I'm not sure I agree with the $4m but welcome guidance.As at Dec...

I'm not sure I agree with the $4m but welcome guidance.

As at Dec 2010 they had $600K, costs about $100K per quarter to run and they expected exploration expend $400K ... best guess is that they have say $100K in bank as we speak. June 30 accounts showed tenement obligations of about $600K for year ended 30 June 2011 ... looks like they will / have delivered ... and a further $1.8M in year ending post 30 June 2011.Tenements entitlements look relatively secure in short term.

I expect they will again do another say $700 ~ $900K issue to underwrite at least 1 qtr ahead ...and will work hard to pump price ahead of sequel raising... I suspect they are a little dissappointed at price given other potash players roaring success and even more apprehnsive about dilution...

I think AIV has some great assets ... both copper and potash. I'm probably looking for an excuse to buy in... but struggling. What I don't like about AIV is the apparent endless wandering about with potash and copper and gold and rare earths and blah blah blah ... and on face value, not a very aggressive management team. Their neighbours are very attractive ... real estate really is about position position position!!

Can anyone point me to sensible potash processing maps and configurations .. I'm lost when STB boasts at surface resource cash cost $200 / tonne; ELM alike and AIV struggling sub $500 / tonne ... what am I missing. Is AIV just talking this down or is this particular resource hideoulsy complex?

Have a great day!