cxo, page-35

The way I see it management now has the opportunity to deliver the goods. With over $7M in the kitty after they pay off LTR, and more if they give them shares instead, which they probably will, they can hopefully start putting all the pieces together and commit to breaking ground without the spectre of another CR on the horizon for a few months at least, unless such an action forms part of a finance package. So after the SPP shares have been churned over and things start to happen the confidence of investors should be there to finally move the SP upwards. Although we didn't like the low price or the timing of the SPP at least it's behind us now, whereas if they'd waited till after the DFS release everyone would have been expecting a CR any day and been reluctant to apportion fair value to the DFS announcement. Obviously we're going to find it hard to make headway for the next couple of weeks but I can see about a 2c rise from the DFS. After that further offtake finalisations and finance arrangement should see 10c toppled. I just hope we see all these things in the next three months while there's still ample money in the bank. The one thing we don't want is a DFS followed by two months of silence similar to what we experienced last year in about August/September when there were no drilling results and no apparent progress, otherwise the SP could slip back towards 5c while the cash on hand dwindles. But let's believe that that won't happen and that instead the dominoes will fall quickly in turn.