looking to break 10c.....here we go, here we go, h, page-58

re: reply to tastarga The question of finance for project development will evolve from their current activities.

This will include infill drilling where necessary (currently doing), adding a bit of juice from additional exploration drilling (doing this quarter), and finishing off optimal pit designs/metallurgy coupled with plant design/specs which would also reflect available plant on the second hand market (which is an interative process).

Lenders would already be talking to them explaining their requirements-infill drilling, mine life requirements, cash flow analysis, hedging requirements etc.

Acturtle is undoubtedly correct, further equity will be required, it always is. Additional working capital, margins for cost overruns and so on.

The extent of capital will reflect the project-if robust may borrow a fair bit. Pick a figure, say $40m for capex with a contingency buffer, borrow say $30m, $10m in equity. (Most of that $10m goes in first before the banks go on the hook.)

Daunting given the current market cap? Not necessarily-hopefully by the stage I am talking about is reached the market cap will be a fair bit higher.

My entry point will be when some of the issues previously raised have been resolved to my satisfaction. If that means I have to pay a higher price and it still represents my definition of value, then I will pay it.

Does it mean I can leave a lot on the table-you bet. I did not get involved with the OX until it was over 40 cents. I did not first start buying Hardies until they wer 90 cents as examples.( And to be really boring, RIO at $32.)

Of course there are others such as LAF at 17.5 where I am comfortable.

Have I traded a few in the past 12 months -of course. GIP did not happen, TRY did as examples.

Our major positions I never post on nor will I... hehehe.

Good luck-as said before, there are not too many good gold stories out there at the moment and this is one of them.

Cheers,TAS