check out the web site for aim, page-5

Interesting that he hadnt even looked at the zinc price as of late.LOL.Hes all very relaxed about it all isnt he.Im a little more relaxed too now that the US feds cut by 50 basis points.

He's still sticking to that 130M OCF on the basis of 240-250M cash flow.

He's now got the debt being payed back over 2-3 years,or at least thats what he said.On a conversion rate of 80c(?) this gives around 60:40 equity to debt,US145M being around AUS180M with AUS115M equity already raised.Which puts the debt to be raised at around AUS60-70M

He's banking on the 90M lasting 9 months and stated that they are well advanced with the debt negotiations, which is standard rhetoric for the deal is anywhere between initial talks to legal paper work being put together.Sounds like he still has the contortionist working on the financial package;-)

But as I always do I'll give him the benefit of the doubt and assume they arnt far away from finalising once the offtakes are tied down considering how long theyve been chasing this debt.Still a possibility that there is some kind of financial relationship between one or both of the other offtakes to be signed and some of the debt.

Still nothing really given away in terms of how they are looking to raise the debt although I thought that it had been mentioned a cash raising roadshow to Nth America/Canada.

Still looks to me as though they are advancing as far as they can whilst the rainy seasons on with mine/plant infrastructure being established and once the rain finishes Byrnecut will move in to start on the decline.Weeks was the timeline mentioned here.

He was definitely hinting at something decent from the core assays with two of the holes but as he said best wait until the results are back.However what I did find interesting was that he pushed the VMS cluster effect in talking about the Perkoa drilling.

Thats how I saw it DK.Like you say not a huge difference in what we know already but it did affirm a little about the Perkoa exploration.

d.