fed approval, page-12

Although the mkt is starting to warm up a little, I am guessing we have seen a few exit POK to chase other stocks that are driven by more definite catalysts. My base case assumes permits come through and therefore I for one think this is not the time to sell given we are so close (my valuation is materially higher than the current price, then again so would everyone else's if they factored in permits).

As I have said in some of my recent posts, my biggest worry is funding. I think we would need about 3 to 4 mill for the next round of drilling and prep for drill sites and building of roads so unless we see the permits come through in the six weeks, there will be a highly dilutive cap raising as they run out of money before the permits. I'm sure management are weary of this.

I have no problems participating in any raising as long as we get the permits.

Hurry up.