the secret is in the detail

Hi all,
although you wouldn't want IFE to be banking on potential options, clearly Ian and co know they can bank on cash flow as shown by today's conversion of ~3.5m oppies. THIS IS ANOTHER $2.6m TO THE KITTY.

I think they have now raised:

Dec 10 - raised $6m
Feb 11 - raised $11m
Jan 12 - raised $6m
Feb 12 - raised $3m
Feb 12 - oppies ~$3m
Total $29m

With more oppy money to come, Ian seems to have now STOPPED issuing shares for cash flow, stage 1 appears funded.

The latest ann also said that stage 2 can be paid for with debt (or at least in part) so this is great for current holders.

If you can beleieve mgt (and I do), mining starts in 5 weeks, cash flow a couple of months after that.

Interesting to see that BCI have just ann a $5.5m first year profit - market cap is ~$280m

Cheers,
W