News: CAP Carpentaria Exploration raises stake in Hawsons Iron Project to 66.5 pct, page-6

Danhold, you seem to be taking a very keen interest in CAP even though your posts seem very negative?

Any reason?

I'm not sure where you have got your info from re CBA etc.

However, I do agree that CAP will need further funding and that existing shareholders should expect some dilution of their interest.

I expect that current shareholders will effectively end up with between 10% and 20% of a mine that is producing 10Mtpa. Total expected cost CFR to China are US$48/t. Expected revenue is US$88/t (based of 62% benchmark of US$63 given premium grade). That is a margin of US$400M per year and allowing for dilution existing shareholders will get the benefit of US$40M to US$80M per year, for 30 plus years.

Yes there are risks and hurdles to get there, but CAP is jumping over the hurdles and the risks are getting smaller.