what the next few months offer igr holders, page-3

CEB UG will be funded out of cash flow. Initially, they have committed $6m to the program. Discussed this at length with one of the directors 8 weeks back in Sydney.

I see NO need for Cap Raising now or in first half of 2012. Beyond that time horizon, its pointless to speculate as POG might be $2500 or $1500. Debt funding would cover any major plant upgrade.