johnaus, of course the 1.5mtp/a scenario will also be good for...

johnaus, of course the 1.5mtp/a scenario will also be good for the company, but when you look at Hartley's analysis, it's quite clear that the 3mtp/a, 10 year scenario adds much more value to the company.

If they keep intersecting copper at depth it will be interesting to see how they approach the thought of an underground mine.

You're right in that the CAPEX of $160m should be very easy to fund, I'd assume there would be some sort of debt/equity arrangement, but it's a while away yet.

As for the cash situation, there was $6.6m in the bank at 31/03/11, with a budgeted expenditure of $5.5m in the June qtr. That would leave only $1.1m in the bank at the end of June. I would be expecting another CR sometime soon. Hopefully it's announced after some positive announcements have hit the market and the share price has appreciated somewhat.