share price and cash, page-21

My point is simply if they have no cash they're not gonna get any without exchanging some of their/our equity. We can argue about price but I want to know how desperate they/we are to do a deal.
When we're a 400 mill company 20 mill in a boom environment is a cinch. Sadly the maths at 40mill in a bust is not worth doing (thanks Phil)By my reading of accounts however it is a deal we have to do. Did I read the accounts correctly??
Anyone in here care to look and see,,,, please.

Maybe I'll take your suggestion Steven and call BMN and ask them if I've read their accounts correctly.

Clearly if they run out of cash all the scenarios need to be rewritten, sub prime writ small.

The points about grade and viability vis-a-vis project timeframe cost is highly relevant. Look at Rossing it was discovered in ?1928? with mining beginning in ?1975?
That BMN will do it alone to it's timetable of 2010 or 2011 has been fundamentally altered by sub-prime.
And some other interesting facts.
Namibia has 30-40% unemployment and AIDS >20% of the population. My point is it aint like home where you, more or less plug and play your project. (infrastructure is less of a challenge and do any of us have a perspective on this)