Also, on the cash situation. You can't use the June 2008 FY cash burn as a basis to work out how long their cash is going to last. Their cash requirements have increased due to the fact they are now undertaking a BFS (which increases cash outflows) plus I gather they have been ramping up exploration and processing of samples, including building their own lab recently (again this increases cash burn).
The reality is the more progress that is made by an exploration company, the higher the cash burn as it starts doing the work necessary to move the project from a pile of dirt to finding a resource to assessing the viability of that resource and ultimately to a working mine.
share price and cash, page-5
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