Renison is cash flow positive, say $5million a quarter, which covers all C & M costs but not the debt , so the debt has to go. that will be maybe worst case 500million extra shares issues at around 6 to 7c
so lets call it 1.5billion shares on issue worst case to get rid of the debt...that is what I now use a baseline for risk/return analysis
its now just a tin play.... at AUS30,000 tin( currently $25,000) the cash margin is around $10,000 tonne on say 4,000 tonnes , right now its only $5,000.
Ann: Shareholder Update, page-57
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