upwards and onwards, page-7

Owen, I think that statement merely means the SP will be a multibagger within 5 yrs: fairly nebulous aspiration, a throwaway line really.

However, I don't think it unreasonable for us a collective group to discuss likely fundraising scenarios perhaps PP and others would like to air their thoughts.

From my perspective the $8mil in the bank is insufficient to pursue all drilling targets for next year: there are now simply too many sub-projects, too few drill rigs and too little money.

A CR via the ASX to raise a further ~$20mil to carry the company through to ~end 2015 as an Exploration Company only is not unreasonable and therefore should be considered possible and to happen by mid 2013

A CR to raise funds to build a mine/mill is unlikely as the present SP and market cap is too small (needs to be around $250-400mil minimum) to sustain the dilution required: ie we're already fully diluted.

Monies from Vale could potentially negate or at least defer the need for a CR to finance further exploration, however, as discussed elsewhere, the odds on receiving the $40m are lengthening by the day and the possible $1m interim payment does little other than stimulate optimism.

Xstrata? Could go either way.. Could sit there and do nothing until we fall over then step in with a very lowball takeover offer, or they could take a bigger position (for cash rather than assets). Could go either way.

As long as contract mining is deployed! there's still sufficient funds to go ahead with the DSO ore.. This would, IMO, be a major game changer.
Off take agreements would be settled promptly: revenue streams pretty much guaranteed for the life of the DSO project. Critically, this would boost the SP (and therefore Market Cap) by essentially revaluing the insitu copper for that project and, to some extent, the whole project. Once the market cap grows sufficiently then instos will come on board driving the SP and Market Cap higher which should then open up other options for funding a major mine/plant at PB.

ImHO timing is everything, the market isn't interested in assays anymore (unless we hit the equivalent of Zambia's copper reserves) and we're currently being punished for not following through on earlier production talk.

Enough of the WildCatting, boys, its time to get the spades out....

BT