1.7 billion is the achilles heel here.and dillution to do it is...

1.7 billion is the achilles heel here.

and dillution to do it is the worry.

these spec stocks have their fantasy run, to dizzying heights, then as the last of the music runs out, the party begins to sober up.

what they need to do, is re-think the strategy for the development, and do a staged development, where the only dillution, is the first stage capex, it then self funds the expansion.

They need to say to the market, ok, how about 200m capex, and we'll give you shareholders, a free ride after that.

Other alternative, is attract a jV partner, for 50% of their project for the lions share of the capex.

These are troubled times in global markets, and all you need is one european bank, or someone in the domino list need to balance their books and sell the sector, and the specs down, for the selling pressure to become relentless.

Where is the clarity of project certainty, what is the path to production that will protect every dollar inveted today?

Some directors have a poor attitude to shareholders, and its called, consolidation, and further issue of new capitol.

The best stocks, either have a cash cow and no debts, or they are getting good bang for buck with their farm out, jvs.