Sounds like a good plan. CSE is absurdley cheap at 5 cents. Tom doesn't seem to think funding will be a problem. Perhaps he will borrow 50% and get 50% from additional equity. The $Aud keeps falling, which is a help. Tom doesn't seem to show any sign of shelving the project at this stage. I am guessing he will need to get the shareprice back to around 20 cents to raise more money. I think when markets improve he will pull out all stops to promote.
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