Well that is the key isn't it. An immediate fund raising...

Well that is the key isn't it. An immediate fund raising exercise is now necessary, and the old guys on the board can't bring money to the table. If they rely on Mt Ching then its a further dilution in the holding in the asset, because clearly he is not investing in the listed company. Any new players are only going to look at recent plays and say if they come in then they want a slice of the direct asset as well.

So effectively, come January or February, whats a diluted perhaps 20% holding in an asset worth to keep the salaries paid? Have they managed to keep the work rate up in the face of all the financial turmoil and have something real to announce that can allow a dilution without dipping below the current level. An increase is only going to be wiped out by profit taking at the first chance, so at best you are only looking at maintaining the current price.

The crystal ball... If you reversed it back and worked forward on the rubies and slowly on the Graphite and Vanadium until it could launch from a better position, would the position today be different than effectively 0.0046 ex MUS share price and future viability.