Ann: IN SITU EXPANSION STUDY DELIVERS STRONG VALUE ADD POTENTIAL, page-82

While capital raising does dilute the share ownership, there are positive factors associated with it that counteract a pure mathematical calculation of shareholder equity - especially on the downside. Additional cash provides working capital as well as sending a message to the market that serious money backs the current management plan; therefore, downside is potentially minimised. Furthermore, the millions of options priced at 25 cents do not get re-priced because of dilution.... so you have a tremendous force at play there. I would say an entry at the current price is fine. I never target a low - that is the thought process of a short trader. I was flagging that the company could be potentially going down to zero and that aligning with management at 25 cents was the most I would pay at that time.

Again those old posts took place while prices screamed downward from 60 to 47 cents. I only mentioned that the SP would hit 35 cents in response to someone calling for 65 cents price within a week - my comments were dramatic because I didn’t want people to lose money and get sucked in by people calling for 65 cents!!!

While the capital raise will dilute value; it most likely will save the company. So if I were forced to pick a low target, I’d say we are getting close now. I’m happy to start accumulating under 30 cents. The capital raise has been positive IMO.