If we do have a captial raising instead of a rail agreement we have to ask ourself's why, we had sufficient money for a while yet, so why raise money now? These are my thoughts if it is infact a capital raising that we are in for.
We all know that we have Rockhole bore results that are due, maybe thats what we are getting, if we are raising money i think the reason is that Rockhole Bore has hit significant pay dirt and the company wants to ramp up drilling even more and get really aggresive with the programme, we have a huge southern bundary running parallel to the range on BHP's lease where all of our deposit's have washed down from and settled on our lease, we stand an EXCELLENT chance that we have mineralisation in blocks all the way along the southern boundary, its not continuous as we can see between the North West sector and Rockhole Bore, but if we are finding pockets around the 40 to 50 million tonne at a time, we will be sitting on a very substantial resource, Rockhole Bore has a strike area of 2 km X 600m, Hamersely hit 36m previously and BRM has also hit really good pay dirt, i have said before that Rockhole Bore has the potential to match the North West sector if we continue to strike 30m at a time, the tonnes will add up very fast.
Again if we are raising capital, we could be in for a very good result from Rockhole which could in return prompt the company to take the gloves of and start swining at the drilling programme with bare fist's, i really hope that this is the case, i would love the company to raise bewteen $10 million and $20 million and secure another 2 or 3 rigs and just go nuts on drilling, why stuff around with a couple of rig's when you can double up and do the job in half of the time, i hope that this is the aproach if its a capital raising that we have coming.
All will be revealed soon enough, finger's crossed.
YML
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