It will supposedly take 12 - 18 months to get the various...

It will supposedly take 12 - 18 months to get the various permits - not sure if this is just to get to stage 1 or gets us to stage 2.

However if Thomsen decide to go to stage 3 then we will have to stump up our 30% share of the infrastructure costs which will use up all of the $12.5m.

I didn't realise only 20% supported the capital raise (before I bought in), but since then in August we have had the updated pre feasibility study which showed how much Mt Carrington is worth.

I am not happy that the three great assets I was buying into has been diluted by this Mt Carrington deal and the AuStar acquisition.

Having said that I recognise that to develop all three projects is going to cost a lot which needs to be funded. Seems to me 70% of Mt Carrington is being sold on the cheap, but then we can only get what the market is willing to pay for it. Time to look at TMZ and see if I should invest there as Angus has done..