That’s wrong RT, mate they have another 3.5million heading there...

That’s wrong RT, mate they have another 3.5million heading there way, would expect announcement over the next couple of weeks declaring money has cleared... this is to do with the sale of there recent Gold project.... sale was originally 5mill...

Last time I spoke to the company, just over a week ago they said they had no intention of doing a capital raising as they had enough money to continue with the drilling program and cover business costs for some time (easy into early 2011)

Having said that, companies that do continual cash burn with out explaining to the shareholders how they propose to make cash flow usually concern me greatly...

My impression of these guys is they don’t seem to have a drive to get into production even if the next lot of results are exceptional... I’m presuming they will continue to be explorers, they may just continue to sell tenements when proven resources are in the form of a JORC, this is the only way they will make money IMO..

As with my trading I averaged down to the clear bounce, lucky for me my average got to 3.9cents, considering my first purchase was allot higher… I don’t like the trading games here at the moment, the recent liquidator could be playing games as some have suggested, If you have the dollars its not hard to trigger some signals to a stock, increase volume, few props, pump it, dump it… then later start announcing expected drilling results etc etc… seemingly this is what we have just been through…

I’m a little confused at the moment what to think with this company, I was excited and encouraged at one point, but now I have come to the conclusion that this is another manipulative play on the market with no substantial proof that my investment is secure in the short term let alone the long term… so having said that I sold out at evens… now the SP will sky rocket..lol, either way I think I made the right decision, I wouldn’t have sold if it wasn’t for the recent liquidator, plus this looks all to familiar..