Lostcause,I disagree with your perception of market perception...

Lostcause,

I disagree with your perception of market perception or at least it's degree of doubt. I think it's priced more like 50-50 than 1 in 10. A market cap of over $300M is prety substantial for a 10% chance at success.

I think the factors in the current share pricing are ;
- The (IMO 50%) risk factor in getting finance
- The expected dilution that will come from adding in a financing partner
- The time to production (2014 at the earliest)
- Risks around dealing with African governments and possible instability in the region
- The time period before dividends could be paid (production not until 2014 AND possible financing repayments before profitability will allow dividends.

Illiquid