underlying commodity nearly doubles in 3 month, page-9

Hi Commodore

Im interested in your 3rd point that you are only giving a 37.5% chance of a Cap Raising to finance the production. I have pretty much taken it as given that there will need to be a cap raising to get into production. Personally I can't see a lender in this climate giving them the sort of money they need unless they have adequate secuity and offtake agreement just wouldnt cut it. I remember reading an article some months ago too that was supportive of MAK but that most analyst believe this to be the case but that A.D. will try and raise the share price before he raises the equity. Of course with only a few months now to production Drummond has pretty much ran out of time and that CR may need to be in the 20's (if S.P can hover around late 30's and 40's) if anyone really believes they will produce in June