karinga creek potash, page-2

nice pick up DONMAN...KC shouldn't be underrated. I was thinking about the dilution. Personally I think it was a bad move by RWD for the amount of expenditure being only $500k. Still their priorities lie elsewhere I suppose and a tighter registry over the longer term may prove to be more valuable. But a good business is a good business so perhaps a little premature to start thinking they are a whale when in acutality they are still a goldfish.

Anyway if the total expenditure was $1m the question of how much dilution will be related to the value of the project prior to the additional drilling and subsequent resource definition to come (keeping in mind that RWD's lab testing would contribute to some of the expenditure). So any ideas, $5m, $10m, $15m ?

Cheers