Logically, they would wait for the Opes Prime to be completed...

Logically, they would wait for the Opes Prime to be completed first.

With regard to the $20 millon - they have already indicated that they would undertake capital raisings - see the Note 5 below.

If they are desperate - they can always sell off their investment in Magma Metals which is doing quite well.

Personally, given the strength of the management - it would not be too hard to raise funds as they have all the necessary approvals in place and there is strong investor appetite for clean coal technology.




Extract from 31 Dec 2007 - Interim Results


NOTE 5 – CONTINGENT LIABILITIES
There has been no material change in contingent liabilities since the last annual reporting date, other
than;
On 7th November 2007 Metex announced that it had agreed to acquire the remaining 50% equity in
Carbon Energy Pty Ltd from CSIRO and Dr Cliff Mallett in addition to an agreement to acquire
outstanding Share Options in Carbon Energy Pty Ltd. Legal Agreements relating to the transaction were
executed on 31 January 2008. Under these Agreements, and subject to Metex Shareholder approval,
Metex will pay approximately $2.8 million in cash and issue approximately 111 million Metex shares as
consideration.
Pending finalisation of the acquisition, Metex has agreed to guarantee payments, subject to successful
capital raisings, of the Trial burn construction contract, to be entered into between Carbon Energy Pty Ltd
and Thomas & Coffey Engineering for a total of $18,710,000.