comments on rs article.post observations, page-5

Paper storm Asteroider?

I think North Sound might have something to say about this and would dump Aim if this was to happen.

Imo Aim have gone a fair way to reducing dilution to date with the UK issue halving the number going to be issued.

Imo just how any TSX issue works out dilution wise will depend on how the offtake/debt and other required equity raisings are ordered.If the TSX issue is done later in the year post the offtake/debt then ther should be much less dilution due to the sp rising.

But will it work out this way?

Will the lenders give Aim the cash on the basis of the stregnth of the project,the cash they have raised to date and the offtake.One would think this is enough but then as has been said before this is Africa and sometimes lenders want more equity backing prior to any lending.This is where a cost over run(to be incorported into the offtake perhaps) might help to a degree by minimising some of the cost risk associated with extra transport costs if they were not able to utilise the rail.

Another issue will be just how soon or at what level Canadians want in.For all we know it may well be Canadian buying thats keeping it down atm,if they are smart.

d.