In short yes.There are a lot of variables and different...

In short yes.

There are a lot of variables and different scenarios that may play out in the next 24 months and few have CSE not being here in that time frame.

The bulk of drilling has been completed in the past 12 months and this is being scaled back. The possibility for future drilling will be driven by the current and possible future direction of markets during that time period. The most likely scenario is that all exploration is on hold and only that required to prove up Einaleigh/ Kaiser Bill would be undertaken.

Once the above scenario is in play then CSE cash needs are <$1 mil per year, with in excess of $3 mil in the bank.

The question is when can development of the mines start. Should all commodities continue lower, say USD $1.00 for Copper, then the viability at that stage will be borderline. CSE will most likely get there cash costs down to $1.25 and have to wait for commodities to pick up, once this happens they will raise bank and equity finance (not necessarily shares) and sell production forward.

My concern is not whether they will be around but whether someone makes a play as soon as the markets turn, thereby taking a no risk play while everyone sat through the turmoil. Hopefully share holders would see through that and not sell.