on the fringe.., page-12

The initial capital cost for Sunridge can't surely be $489 million.

Koka was estimated at $122 million and Nevsun I think was less than $200 million.

If you are going to be an explorer you would want to choose a country in which you can readily sell your advanced project to a good number of potential mining operators. Eritrea does not fall into that category. So Sunridge could soon be in a panic.

Now that Chalice has $50 million, it is a vastly different company. It can explore, develop and operate. Maybe giving back $25 million was too much. The alternative would have been the directors selling down their shareholding and that would have cause havoc on the sp.

Typically how much finance for capex do you get if you put down $50 million deposit, assuming a project was all JORC approved and the feasibility came up highly positive? I suppose it depends on the forecasted early cash-flow.