Which makes one wonder about why North Sound jumped in so...

Which makes one wonder about why North Sound jumped in so strongly at around 30c Mook.Did they misread the length of time to production as well?

I suppose it really doesnt matter to them in that they can keep their cash tied up for a few years anyway.If they get a 100% gain over 2-3 years thats still anywhere from a 30-50% profit year on year which is a very strong fund performance.They must have factored in the risk of production sliding out by another 6-12 months when taking their position and realised it was still a strong investment all the same.

The other factor may be North Sound may well have cash sloshing around that they can put into higher risk plays such as Aim.Thats not to say that they would want to see $40M+ reduced to an effective $30M on paper.Far from it.They would have wanted some pretty strong assurances from Aim that this was still a going concern and I still cant help thinking the recent management restructure was MF's indicator to NS that he's prepared to tighten the belt on outgoings if production is going to be stretched to where it has been now.

d.