Ann: Quarterly Activities and Cashflow Report - A, page-14

re: Ann: Quarterly Activities and Cashflow Re... 1. There is enough cash to develop the business in 2013
2. With the first project in SA additional 60 Mio USD are looming from Blackriver.
3. At the end of the year they are going to sue the guts out of Bayan. My guess: The claim for damages amount to 300 Mio USD.

As you see we do not need heavens help for further equity.

"White Energy and Black River believe that the Joint Venture will be an attractive proposition from a public markets’ perspective and will consider listing the Company in the medium term."

http://www.whiteenergyco.com/investor/asx-announcements/black-river-invest-significant.php

All we need is a proven business case and I am pretty convinced that we are close to an agreement for that.