interesting ss post, page-6

The same thought re the expiry of the extension to the issue-c/notes was going through my mind as per your reference on SS Juqu.

I think we can ALMOST safely assume that this extension has not been meaningfully used towards the project raisings.There were a couple more option and performance conversions during last month so this may well have been why they asked for the extension,although I wouldnt have thought these would have made such an extension necessary.Perhaps they will go for another extension.Im not too sure on just how many of these they can go for.One would think the Asx has a limit.

But to get back to the other possibilities for financing,if nothing more is heard on the c/notes,then logically speaking(using Mr Bligh type thinking-another Delphic contibutor eh Punters?)we can look forward to what was mentioned a little while ago in the media re a TSX listing for the completion of the equity raising.This would of course be post the signing up of the debt which SHOULD give the sp a bit of a kick in the guts from where it languishes now and enable Aim to once again minimise the number of securities issued.This just may well be why we are seeing a current effort at capping in the low 20s with whoever may be taking up such an issue at a higher price wanting to factor down by buying a reasonable amount of stock at a cheaper price prior to any such issue.I notice there has once again been a nice consistent couple of 400K sells move in just above the on market seller.They may also just want to simply keep the price of the stock down prior to any such raising so they can make more of a gain form whatever they get their issue at,but then this isnt exactly Aim looking out for shareholders interests by minimising dilution,is it!

Probably just conspiratorial thinking again but if this is the case then one probably better not hold ones breath for any debt annmnt soon as this buyer looks pretty patient in picking up stock at low 20s.

Now Im factoring in a good dollop of your mention of "why the North Sound take up(?)" AND borrowing some sentiment form Mr Blighs SS comment

"Management are presently fine-tuning the bulk finance to benefit shareholders and minimise long term debt. This proceedure can take some time as management are looking for more flexible terms."

with this next scenario Juqu and that is that there is a reason North Sound are so confident in this stock and that may well be that there might just not be a necessity for this second equity raising.Perhaps the debt lenders have come to the party with the rest of the cash required.

I was thinking about yet another way in which this could pan out and that might be that the offtaker or debt lender might take up some kind of security issue but then that would require another extension to the issue waiver.

I'll repost this Mining News item from Walter D which I think is the last known comments from MF re where they are CURRENTLY headed with the finance raising.

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Indaba '07 ¨C Aim looking to hedge Perkoa output

Thursday, 8 February 2007
Paul Garvey
THE managing director of emerging zinc producer Aim Resources says the company is likely to hedge a small amount of the output from its Perkoa zinc project in Burkina Faso, despite not being compelled to do so by the groups behind Perkoa's debt financing.

AIM Resources' Perkoa zinc-silver deposit in Burkina Faso

Speaking to MiningNews.net on the sidelines of the Mining Indaba event in Cape Town, Aim managing director Marc Flory said the company would not be required to hedge any of its zinc output under the terms of the soon to be confirmed debt facility.

Aim is set to complete its debt financing, believed to total around $80 million of the $145 million required to bring Perkoa into production, in the coming weeks.

However, Flory said the company would still hedge a portion of its output as means to lock in the current zinc prices, which ¨C while around 25% off the highs reached late last year ¨C are still substantially above their historical levels.

"We will look to take some minimal hedging, as these prices won't last forever," Flory said.

"But we won't be hedging out the blue sky."

The remainder of the outstanding financing requirements will be met through an equity raising when Aim lists on the Toronto Stock Exchange later this year.

Flory added that the company was close to finalising negotiations for an offtake agreement with commodities trading group Louis Dreyfus.

Aim expects Perkoa to have a payback period of 12-18 months and an operating cash flow of $130 million per annum.

The mine is expected to produce around 70,000t of zinc a year.
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All still very much up in the air as to how this will unfold and to be quite honest I dont blame you one little bit or holding off on getting back in with the doubt surrounding this aspect of Perkoas development.

I am a little concerned re your comment on "lack of decline development" Juqu.This cannot take place until they have completed the box cut which was mentioned as not happening until the second quarter of 2007(previous media article or company annmnt???).Im hoping this to mean the calender quarter of 2007.But I remember back to one of your posts that mentioned your other half had previous ties to Brynecut and that at the time of mentioning this you were very bullish on how things were shaping up re the box cut and decline.Can you mention if you have been privy to any further info or is it just the lack of info from the company?

d.