theres gotta be some this week, page-18

Afternoon all,
I reckon they'll need another CR before start of production. John wants to buy the place outright which will cost another $4M (on top of the $2M to pay in October for 70%). In line with this we've got a bussiness to run and some good people to pay, and we'll have some more good people over the next 9 months. I plan on them needing to raise some cash come Jan next year, maybe around $8-10M to get them through until July-Aug next Year, and then it will depend on what sort of finance arrangement John can agree on with probably 2 or more parties. An important variable is how much more drilling they need to do as part of their DFS and future mine planning.
If they do do a CR in Jan 2012 then I think they will raise more with less, hopefully we'd be looking at a price of 20c or above depending on how well the current drill program goes and the outcome around the DFS later in the year.
In a nutshell it depends primarly upond John negotiating a good and timely finance deal, and that of course relies on the success of the current drill campaign and DFS. How much risk he can take away from the proposed project?
If we allow for a shorter price for the CR required in Jan of say 14c, the final dilution won't be affected too much - 75M extra shares on issue vs 50M @ 20c.
IMO there is still room for another CR on top of the one in January (if required) before start up. If John can keep the shares in issue to below 550-600M then i'd be happy. We'll see come later next year, hey.
It will be interesting and hopefully rewarding.
Busting