argonaut and patersons , page-7

AC. Am not being negative. I agree that there is great potential in the Mongolian deal, but the acquisition has to happen for CEO first. I'm not in at this stage because i cant see how they are going to fund the purchase. If they cant fund the purchase all that potential goes to someone else. Isnt it a bit hard to do a capital raising at .05 cents with share price sitting where it is. So what are the options. 1.) capital raising at a lower price. More shares will have to be issued and existing shareholders have to cop the dilution even more, unless the asset gain is far more valuable than the purchase price and extra funds for drilling etc. 2.)Joint venture partner with cash. If anyones interested they would more than likely sit like vultures and wait for the leases to be up for grabs if CEO cannot complete at 8 million odd rather than providing the 28 million required at the moment for purchase and drilling. Given the situation as i see it,the safest option for CEO is to renegotiate a deal for the block/blocks(2 max from memory) where the 40 and 60 metre discovery has already been made and try and secure an option on the other leases, even at a higher price. This way less money is needed up front. Drillout the known zones and with continued success SP should rocket. Then go back to market at a much higher SP and runs on the board for more capital to complete remaining purchases. I think an announcement to obtain the initial blocks only at this stage would be enough to turn the share price upwards. That's what I think.