trading halt, page-11

If you mean an SPP I doubt it as Ian Benning has told me on several occasions that wouldn't be their first choice as they know what it does to share price (I know how laughable that sounds given we're at 9c anyway).

With any luck it's news of enough cash to pay York and get us through the key milestone of BFS and then it's up to Benning and crew to do the best deal with offtake partners etc etc - presumably at a higher share price than now with York assets all under our control and BFS all lined up.

In fact what type of funding they do this time round probably gives you an inkling into how confident they are that the rest will come from offtake partners etc etc. ie if they raise a motza to get us all the way to production then they weren't as confident - if they raise enough to get us through but not full funding they can probably strike a better deal for the rest down the track a bit.

The key catalyst for this stock is the BFS and stitching up the York assets. After that the money will be lining up at our door to start us into production and we can dance with the prettiest girl at the party, not the last one left standing.

As far as the share price goes, yesterday was one of the uglier days I can remember on the ASX for a while. Look at Metro coal today, grest announcement and it dropped too. Look at COK CCC WHC - all the coalers have been slammed.

6 weeks ago gold stocks looked like that.

If we've stitched up funding in this climate of the market turning up its nose at coal sector we've done well I'd say.

Don't get me wrong, I'm as frustrated as the next guy about this being 9c, but I just knew if I sold I would be left high and dry at some point.

You couldn't buy the ZYL chart yesterday any more than you could the LYC chart yesterday. Look what happened there. You'd string yourself up if you weren't holding when the good news came.

The way I see it, funding to get us to beyond the BFS is bloody great news. It's just taken longer than anyone ever envisaged and the SP has drifted back on low volume as the non-believers stepped aside.

Time over again of course I would have sold at 20 and bought back Monday at open. But if I sold today at 9 and had to buy at 12 Monday that would kill me more than carrying the paper loss....

Cross your fingers the news is good, trust that management has done their best, and hope to Christ that the ECB doesn't let us down tonight!