summary, page-6

Sorry about the false alarm, only Saturday practice session. Phew.
That most recent announcement I was referring to didn't seem to make it onto HC so might have to go to ASX for that one.

The news out of DMM that there are 15 Confidentiality agreements, some are doing due diligence, site visits is sounding good to me. They presented these options -JV/Strategic funding/Off-take. If anyone knows which option generally shows the most promise, I would be very interested to know.

Seeing as there are 15 potential suitors, and I would consider DMM low capex generally, I imagine it would be very appealing compared to other projects. Some I guess will lose interest because of the low inferred resource atm and would need a higher figure to feel confident making such a large investment. Basically for 15 groups to be interested, there appears to be a fair bit of demand out there.

d_crome, whether DMM would use the money to pay off the note, there was supposed to be a general meeting on 8th May, so hopefully we will find out if resolution 4 was passed or not. If the shareholders passed it, then the right to convert lies with CFE I think. If the directors thought that better options had come up in the meantime, then they should vote against it.

Back to CFE/Dempsey. I just thought to point out something in the independent valuation that I noticed wasn't mentioned regarding the potential stake CFE could take in DMM. I am going to assume that DMMs share price stays above 10c. The independent valuation p12 shows that CFE could potentially control 36.4% of the company if it is issued shares (again at 10c). This looks to have been based on none of the options being exercised.

Shares to be issued: 25,000,000
Existing shares already: 43,687,607
CFE : 36.4%

If all options (at the various prices) are exercised up to June 2010, shares on issue
will be: 71,092,333
Shares to be issued: 25,000,000
CFE: 26%

These are so many scenarios to play out and these are only a couple, so imo, DYOR etc.