to open at 21c, page-12

Will probably get shot down for suggesting this but here it goes.

CAP has approx $9 million in cash and has commited $3.5 million to exploration over the next 12 months, leaving $5.5 million, minus the daily costs involved with running the Company. Work at Hawsons has not been included in the exploration budget.

BMG have till May 2012 to pay up and maintain / increase their J/V status at Hawsons. If they keep their end of the deal, they pay the next installment of $25 million to CAP, so IF the J/V proceeds, we will be cashed up come May next year

Over the last 6 months, SP has declined from 90c to 20c and offers exceptional value at these prices (IMO).

If CAP was to announce a share buy back, spending $1 million, they could almost buy back 5% of the shares on issue and have enough cash to last past May 2012.

All IMO.