Kind of right, 40 mill of the 50 mill are escrowed so only 10...

Kind of right, 40 mill of the 50 mill are escrowed so only 10 mill are tradeable for 2 years roughly.

They have raised what they required for the drilling even though they could have raised more as in section 2.3 of the prospectus, thye have enough funds for the 2 year program so I see no reason why a capital raising would be in the wind, if they wanted more money they would have made the float larger, they made a point of not allowing oversubscriptions as stated also in the prospectus.

Subject to exploration success following this proposed two year exploration programme, the Company will require
additional capital in order to conduct further geochemical testing and to progress the Concession into the feasibility and resource definition stages in future years.


I also thought stonebridge were the main supporters of the stock not Pattersons as in the prospectus, I know one of the directors is a director at Pattersons.


The Company has assembled and engaged a team of geologists and metallurgists to undertake its exploration and
development activities who include the main geologist who has worked on the Concessions and nearby areas for some
four years and has a very good understanding of the geological makeup of the region, and is a competent person for the purposes of the JORC Code.
In addition the Company has the availability of a panel of mining and exploration consulting firms which have offices or operations in South East Asia and will be available to undertake specific tasks in connection with the exploration and development of the Concessions.


I think the board looks pretty capable, Peter has been a director of 10 asx companies for starters aswell as and was the federal president of Taxpayers Australia and Honorary Consul-General for the Philippines in Western Australia.
He has been involved with several successful stock exchange listings and corporate restructuring in Australia and the United States of America including arranging the first dual listing of an Australian company on NASDAQ.
In addition he is a visiting professor at Guizhou University in China.


He has been a director of the Company since its incorporation and during the past three years has held non executive directorships as chairman in other listed companies being Padbury Mining Limited, Aurium Resources Limited and Yellow Rock Resources Limited.


Yes it has nearology, yes it will be drilling soon, yes the stock is very tightly held and yes its in the right sector. Apart from not having a geologist on the board I'm not sure what you are getting at.

I expect this to be up 50% in the next 6 weeks or so once drilling begins....lets see who is closest.