construction to start october 2011, page-3

The decline? With cash on hand, I'd think.

The mine as such? Wait for the DFS - due within 2 weeks.

"I ask because there will be dilution"
Given current trends of the price of gold, chances are that most Hera capex costs can be covered by a forward sale of part of the future gold production at very attractive levels ... (operating costs should be around $650 / ounce, so hedging at $1850 would leave a profit of $1200 per ounce ...) + maybe a loan, combined with put options on gold ... I don't see any need for diluting future profits from Nymagee that will turn out to be huge, imO ...