sneaking....

I am assuming all holders have been watching us sneaking up 25% since the CR price of $0.60. I was always concerned they were going to need to raise money, especially after they have wasted over $100m with very little to show from it. I was heartened to see it was only a small raising and I would bet it was to avoid drawing down on that extortionate RMB loan that was the last desperate act of the soon to be unemployed. If you read the MD&A from Q3 they state that production at Dikulushi will be sourced from the main high-grade ore body in Q4 2012 which hopefully with 12 days to go in Q4 they are all but. So I am certainly hoping that 2013 will start with a cash bang, according to the DFS Dikulushi will produce at 540kt @ 6.1% Cu and 182g/t Ag, which should be recovered Cu Equ metal in the region of 40,000t, or +$300m in revenue and that should pretty much all come in during 2013. Now the bulk of this is going to be excess cash, and that is the whole reason why the cut back was done, so I would hope that even if they spend another $100m to finish Kapulo and run Dikulushi for the year, the Company will have at least $100m in the bank and an operating mine at Kapulo and maybe even an underground mine at Dikulushi. With Bruce now at the helm I cannot believe that he will let this opportunity go to waste, and finally this Company can realise the value that is in its ground.

For me then, I reckon I will hold on for a little while longer and maybe see how things look in the new FY.

Tubber