Thanks GringoOrlando, your figure of a $2.50 SP to raise huge...

Thanks Gringo

Orlando, your figure of a $2.50 SP to raise huge cash is i beleive on the low side, If YML is trading at $2.50, YML will only have a market cap of around $200 million (80 million shares fully diluted) . if infact we do get to a time that we need $250 million for development, that will mean that YML will be a producer of Iron earning somewhere in line on your assumption's. When we get to this stage im convinced that YML will have a market cap of atleast $400 to $500 million, the market will factor in future earnings imediately to the SP, take a look at FMG as an example.

With YML having a market cap of $400 million, lets say a total of 100 million shares on issue allowing more funds to be raised between now and then, the SP could easily be $4 maybe more when the time comes to raise the big cash, my point is that we could be facing much LESS dilution that what you have layed out with a SP of $2.50.

The market will rerate YML as milestones are met, lifting the SP, i really beleive that we will be past $2.50 within 6 months if they keep proving up more iron ore, rockhole bore could prove to a huge deposit in itself, im eagerly waiting for these next 11 holes.