Ann: Promising Heap Leach Results from Sulphur Springs, page-4

Yes, if nothing much happens over next 18 months, and for some reason the share prices plunges so an issue becomes impossible, then Jetosea would appear to be able to assume the bulk of the equity, which seems reasonable. After all, we would be in an armageddon situation.

so that is very much a base case and almost dismissible. The board now have 18 months to progress the value of the project and negotiate the project funding, with some dilution if the share price does very well (via the extra 60m options.

The very fact the current financial support is extended only helps the negotiations cause.

it probably also locks in that the next placement will be AFTER the share price has bounced on the news of a project go ahead. Charlie won’t mind, because a 50% premium will still be just 50% above a low price as the project develops in scale, the regional hub gets underway, and the heap leaching bacterial approach is applied to more marginal ores.

it’s only the project funding part that’s now holding up shareholders enjoying some good gains. I suspect these two combined announcements might be the catalyst for a meeting of minds with the financiers.

with all the top 20 holding firm, I suspect it won’t take much new interest to get back into the 6c mark, where we may have some residual selling from 6c option holders hedging their bets.