joint venture alert., page-20

Gday asteroider

Fully agree with you about Tanzania. Having time to now further consider the prospect of a sale, I am very happy that KEY have made the call now and not in 12 months time.

We have such a small market cap at the moment and with $6m - $8m expected from the sale, our financial position will start to look much more attractive.

Yes, the July ? Sept quarter will see around 3.5m lost though the UK drilling. However if they are fortunate ( or good management ) to complete the sale in a few months time, we will still have plenty of cash to look at an acquisition, with the help of a small cap raising. IMO, the perfect timing for a cap raising is once we have the drill bit in the ground, during the July ? Sept quarter.

Cheers
R