RDL and NOOSSAAJJJI think the reason NME have a 3 stage plan (as...

RDL and NOOSSAAJJJ

I think the reason NME have a 3 stage plan (as they put it) is to get early cashflow in the door from stage 1 from mining the laterites so they don't have to keep diluting by issuing more shares to raise equity in the future.

I guess the key question though is how much it is gong to cost to get to mining in stage 1. They had $3.2m in the kitty as at end of june. $1m drilling program on cosmopolitan started + the other drilling and work they have done (ie metalurgical testing, yundamindera drilling etc). I would have thought that they would still have a reasonable sum in the kitty to get producion started early 2010 (my guesstimate around $1m to fund this).