yep a placement, page-3

cefadog...

Maybe a capital raising, unless of course you spoke directly to the company and they said "yes cefadog, its a capital raising"

I agree that yesterdays presentation may have been released to spruce up some interest, albeit unsuccessfully.

Their exploration cash burn is around $700k/quarter.

At the end of the march quarter, they had $1.8m in the kitty, therefore by my calculations they should still have around $1m in the kitty - but then, this doesnt take into account the costs of the feasibility study - i have no idea what these costs would be.

Given the luck I have had recently with capital raisings, it probably is a capital raising - no doubt well below the current market price as well, but here's to hoping it isnt.

Marchello