perkoa financing changes

The memorandum that was issued with the AGM notice mentioned that Perkoa would not go ahead without the C/notes being successful.

Interesting then that they have gone for broke(hopefully not literally)with mine development and decided to raise the other US$35M later in the year on the TSX.

Does this imply Aim has been given "the word" that success is in hand for the $80M debt raising?You would certainly hope so.

There is also the ASSUMPTION with this move that there will be no probs raising the rest of the cash which gives rise to the question,is the mention of the TSX just a red herring and could they be raising the rest of the cash via another debt facility that may have been offered.

I suppose the real cash burn will start when they begin stoping operations and the building of the plant so they should neeed the rest of the cash till closer to the end of 2007.

d.