sub 20 cents, page-2

The biggest issue here is a lack of confidence in the JV partner. If the market was confident that the agreed funds were going to arrive in May next year, then they wouldn't have pulled it this low - simple reason is that the $25M due is more than our current market capitalisation alone. In fact, if CAP received the funds this afternoon, our net cash and investment backing would be at around 38c per share, which is double the current share price!!

Indeed it would be unfair on CAP management to solely blame them for the demise in share price. Sure, we are all experts in hindsight and can question their due diligence on BMG, but a large part of this sell off comes down to the corruption of the BMG chief.

Ultimately, our management and board are doing all in their power to keep Hawsons moving along; you only have to read the latest quarterly and presentation for evidence of this.

FYI: 9 to 10 RC holes are being drilled at Koonenberry, for a gross depth of 2000m. Should take no more than a month to drill, but give probably another month for the results to be assayed.