issue of options shortfall, page-9

Yes company capitalised at around $4m with very little cash. 75% of 1m oz Gold project is worth somewhere between US$30m and US$75m depending on how it is valued.

Huge upside but the company is hamstrung without cash. Not a good idea to issue shares at $0.03 - $0.05 when true value is probably closer to $0.20. Investors obviously nervous about cash position but Indonesian partners likely to tip in around $6m to take their share from 25% to 40%, hopefully within the next few weeks. Other parties also interested.

Shame about the cash but assets too valuable to let it fail. Worst case scenario it goes into receivership and shareholders eventually come out with $0.10 plus after sale of asset. Can't see directors and major shareholders letting that happen with offer expected short term, possibly a week or two.

Agree Rogues, directors need to drum up support for share price but hopefully an offer will fix that very soon.

von.