Vayama,Are you sure that CXM's cash will be used in its entirety...

Vayama,

Are you sure that CXM's cash will be used in its entirety for CAPEX?

My understanding of the WISCO deal is:

1) WISCO fund the first $75 mill to get the BFS done
2) WISCO then facilitate the funding for the CAPEX

Thus no money put up for BFS or development by CXM.

As Wilgerup will be producing by June 2010 I would imagine that this part of CXM will be cashflow positive also - ie about 7 months away.

What I can see, however, is that CXM will use some cash to fund its 50% of development costs for the Port operation and for additional exploration on its other tenements.

Is this how others interpret it?

Cheers
John