Tongaface,I didn't see your post until today - been a bit...

Tongaface,

I didn't see your post until today - been a bit busy.

The reason I haven't taken all these into account (from your post)

Time value of money
-Capital Costs
-Taxes
-Funding - They have no cash left which means more dilution

Is because they are not known at this stage and thus it is not possible to sensibly calculate them.

As to cash burn I would think late Q3 or early Q4 would ne more likely for any cash raising not Q2.

I would also expect any CR to be on the back of developments at the 2 gold tennements.

Anyway for a MC of around $3mn and 174k ounce Au to JORC I certainly see some substantial upside. Let's see what the upcoming drilling produces in the way of results.

A MC of $10mn+ is certainly possible over the next few months which would give a SP in the 15c - 20c range.

I have not taken a huge position in MKO relative to my overall investments and I certainly did not buy the stock to lose money.

EB