why is the sp not moving up up and away, page-5

$2.5 million in cash as at March 31
$2.5 million in capital raising during quarter
$4.3 million in payables as at 31 December 07
$1.1 million in operating cash flows first quarter

Leaves at most Net cash assets of around $1.3million (take into acount further outflows)


252 million shares on issue
50 million options ex 20c

So market cap of around $25million with a water well on its first try.

So why would you expect punters to push this up to the high teens or into the twenty's so that they can raise the cash to potentially sink another water well.

Cash first - results second - share price direction

Get it any other way with this stock and you cop it!

IMO only