Hi Bikenut,Can't really answer that question. Are you refering...

Hi Bikenut,

Can't really answer that question. Are you refering to the 18m from the 11% share issue to the Chinese Co? Still not sure what is left, but the December Activity Report, says they are debt free, and project debt free, after repaying $4m to Sinosteel. So assume some went there :) Will just have to wait for the next quarterley report I'd say.

Meanwhile I think there may be some income as well. From announcement in 12th Feb":
“In early February, a shipment of bulk concentrate from Radio Hill departed the Port of Dampier for the
Chinese port of Lianyungang representing a $6.1 million value for Fox. Our copper production in
particular is experiencing the benefit of a rapidly rising copper price,” said Mr Harper.
The February bulk concentrate shipment of 5,242 wmt, comprised of a provisional estimate of 239t of
nickel and 380t of contained copper metal which was above forecast. The next shipment of an
estimated 5,500 – 6,000 wmt is scheduled to depart in March 2008." "

They are also spending money upgrading machinery and increasing throughput of their mills. I'd also assume some work on the other Mill they purchased last year would need to be done too.

One thing to note on that issue -there are options with it exercisable at $1.20 12mths from the issue of shares. Think they'd at least want the SP back there in the next year at worst.

But think for the time being (until they deliver on their promises), it will hover around the 50c mark.