1.The offering of 1:5 free options at an exerccise price of...

1.The offering of 1:5 free options at an exerccise price of $1.20 with them being available to convert to MOX from July 07 to December 07.

MOX has about 50 million shares, so about 5 million MOXO will be offered, potentially raising upto $6 million cash during the second half of 2007.

They will need the cash by then as ongoing drilling at Punt Hill and KI will be draining the coffers.

Will MOX be >$1.20 if the Woodchuck and Groundhog assays are not good? Answer...NO!!!!

2. The Woodchuck and Groundhog assays will need to be more than 15X better than the Whistlepig assays to make this a goer. The photos released give the impression that they could indeed be that much better.


Is the offering of free options at $1.20 a sign of confidence in their Woodchuck and Groundhog drill core assays????

I guess we will find out next week.