Unfortunately that’s the gamble at this stage. If we knew the...

Unfortunately that’s the gamble at this stage. If we knew the answer we would hold the keys to the money box.

I think it’s more likely that Hawke’s Point will accept.

If they walk away and the price goes down I’m just going to ride it out and see what transpires. If funding isn’t possible then the road forward is more small capital raising to keep adding to the resource and keep exploring and waiting until the gold price recovers and sentiment returns.

If the government here in Australia changes I think we could easily see the AUD fall further and a higher A$ gold price. If the $A gold price can push up and sustain new higher levels going forward, in the $1,700 to $1,800 range or above, the picture for these and other early development projects suddenly looks a lot sweeter.

I’ve got little doubt that Bibra will be developed in the not too distant future so it just becomes a keeper now in my portfolio. As I said if capital raisings come along I will add so as not to get diluted as long as the EV of the company remains below the post tax NPV of the project. Esh