According to Sept cash flow report it appears to me that DECO...

According to Sept cash flow report it appears to me that DECO have taken over the cash flow expenses for RCP since Sept 1.

? The Company has at the Sept 2010 quarter end, USD 6,000,000 yet to be drawn down under the La Jolla Cove Investors convertible note facility. The Company also has the financial support of its major shareholder Stirling Resources Ltd. which has provided $275,000 of funding since the end of the Sept quarter.?
(Source: RCP Sept cash flow report)

RCP have not drawn down on any more of the convertible note? therefore no $$$ owed to LJ and hence nothing to convert.

Certainly has not been any LJ conversions announcements for some time which would seem to support this.

Appears to me that DECO don?t want to dilute too much more of their approx 25% holding by issuing ridiculously cheap shares to LJ for very little in return.

I wouldn?t be surprised if mining approvals are not too far away and the company is biding its time with some sort of funding package waiting in the wings once approval is granted.

(My opininion only)