Good points wipeoff. Of course the share price is relative to...

Good points wipeoff.

Of course the share price is relative to what you paid. I was referring to the fact that the shares were over 6c, if I recall correctly, when Mr A started this business. I know times have changed since then but I honestly expected the price to move above 4c, on the basis of the court case. Equally I expect them to move above 4c when the lease is finally renewed.

Of course we all have a great interest in where the share price is going as the company has recently gained approval to issue 200,000,000 shares with 200,000,000 free options. The purpose of this issue is stated as "for additional working capital and acquisition of assets" That sounds aggressive and exciting so the company will be working hard to increase the share price in order to maximise the capital raised.

Of course the most effective way of maximising capital raised is to issue some good news and the other option is to involve shareholders. Imagine the excitement generated if free options convertible at 2c in 2-3 years were made available! Given our beliefs about where things are heading, that represents a massive potential bargain for those prepared to support the company.

Does anyone really believe the shares won't be worth more than 2c in 2 -3 years? When you think about it, that is a very clever move by the company to put in place such a strong incentive for shareholders, and possibly some sophisticated investors, to participate in a capital raising.

And of course these shares need to be issued by the end of February 2011. So if we are going to get enough revenue for an aggressive exploration programme and one or more acquisitions, then things will need to happen quickly. 200 mil at 3c would only raise 6 mil with another 4 when the options are converted. Double the shareprice, say 6c and you raise 12 mil + 4mil. That would put us in a very strong position indeed!

Firstly let us just get the lease!