fair value, page-16

"as per last qtrly, it has 700k and are planning a 300k expenditure this qtr. "

as i've posted previously until the funding is sorted it's road-blocked....

where this funding comes from is the big question - weather it's in the form of a capital raising / placement OR JV by which they farm out a percentage of the project in return for exploration expenditure (which is the most favourable IMO as it wont dilute the registry only the final claim on resource)....

as Drummond stated in the recent presentation though "either one of these options will add significantly to the share price"

obviously in regards to the snippet from the quarterly the company would have to state a figure for expenditure in the region of $300k as they have, because you can't put forward expenditure figures that exceed what you currently have in the bank...lol

it's a waiting game until this is put forward but gut feeling says it will re-rate very quickly once this is secured.... blackswan ?


PS- excellent post NineLives

and just a tounge in cheek comment from the MD when he pulled that slide up in the Preso "perhaps its such a large deposit and large project people haven't quite got their heads around it yet" ..... :-)