47 cents by weeks end, page-21

the raising at 31c was announced when the shares were trading around 40c. If they were to raise again now, or in 6 months time with the shares trading less than 30c, the raising would probably have to be done around 20c - the same price as the company floated two years ago.

If BIH proves to be bird in the bush then to fund billa kalina et al (if that proves worthwhile) then they are going to need yet more cash. Unfortunately it is a common theme with this company; holders would probably agree there is something amusing about a company relying on a bird in the hand to assure their funding - except that it may mean yet another capital raising will be required.

That BIH has taken two years thus far from original drilling and they are still looking at 'early next year' before determining whether it is economic would be a real concern to me as a shareholder. I certainly wouldn't feel BIH is guaranteed to go ahead!