I agree, there has to be a cap raising soon. Last time I checked...

I agree, there has to be a cap raising soon. Last time I checked they had less about 800k in the bank, since then they have drilled both Homerville and Jampang.
Estimated cash outlay for Apr-Jun2010 Qtr was only $250k
and there are 12M options expiring 30/06/2010 at 20c.

2 more holes from Jampang to come I believe.
Initial days only, but looks like the area probably has over 1M ounces, but grades could be low on average, with some high grade pockets.
The shallowness could be the winning factor.

Dont know how much it costs to drill in Java, but it is probably much cheaper than Oz, so will see just how much they squeeze out of the remaining cash.
At some point in the next two years I think they also need to fork out 1M for the option on Jampang.

The constant trickle of news has the effect of keeping the average share price nice and high, just right for a raising, or encouraging people to exercise their options.

Homerville is starting to look good, probably a doubling of the resource and an increase in average grade is on the cards.
Also that mention of silver was interesting as it sounds like the northern parts of the deposit might have other mineralization. Since it is an ultramafic unit in a known platinum/tin province (Fifield) will be interesting to see what comes up (PGE??). Cobalt content wasn't bad either (over 1kg in some places).
Just need them to confirm the metallurgy and the breakdown of the ultramafic vs saprolite components. From what I remember the saprolite had significant problems with recovery.