tz, page-25

From the last Appendix 3B - there are 149,667,405 shares on issue. If they did a cap raising (50% dillution) for 150m shares - that would raise $7.5m, which would drill Nyuni 2. I'd settle for that if it means keeping Nyuni.

Sell down West Songo Songo if we have to, or divest part of it for a free-carry drill. Maybe Aminex would want it or more of it.

I mean lets face it. Our company is currently worth $8.2m market value. We have plenty of good prospects both short (UK, EP437), Medium (Italy, Tanzania), and Long Term (Italy and Tanzania again). We just don't have the money to do anything about it.

The clincher for me, is who is now on our board of directors, and their experience in getting finance for their previous companies. I don't think this is going to be an issue.

Lets face it - if we produce 400 barrels of oil a day for 300 days in a year - at $70 a barrell. With the current SP - we'd be on a PE of 1. Maybe that is a pipedream, but hell, we've taken a big risk with this share. Rode it down like a rollercoaster, about time we received some reward.