Ann: Lady Ilse Gold-Copper Porphyry target grows significantly, page-29

The facts are that MAG will have to raise funds to support significant drilling at Lady Ilse.

In many respects it would seem a shame if they did a cap raising now when they have greater than $5M coming in from exercise of options in May.

GB is of the opinion that they will drill a single hole at Lady Ilse initially and soon (which is supported by the 'imminent' wording in a previous announcement).

They really don't have the funds right now to carry out an extensive drilling program but will by mid May.

If they do drill a single hole soon and the results are encouraging from that hole, then it will give the share price another substantial kick along and then next round of expanded drilling can be funded by +$5M that comes in from oppies.

By the time that money runs out and if drilling is successful they would then be able to do a CR at a much higher share price and reduce the dilution factor.

All speculative of course but that would make sense to me. I think the likelihood of them doing a cap raise now is quite low. Just my opinion though.

Looking forward to drilling and hopefully confirming the current indications of the size of the Lady Ilse project.