something interesting about to take place ?, page-3

Been thinking about it some more.

Last quarterly cashflow, 31/07/2012, $3.2m left.

Since then:

The orinico/strickland deal has TRF underwritting a $1M.

The JV with Kingsgate (http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01320862) also cost $0.5m

And we have commitment here:

Twin peaks (http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01282171 )had a commitment of $2m in two years including the initial 500,000 m drilling.


So when you consider the placement announcement (http://www.asx.com.au/asxpdf/20120910/pdf/428mf1klt5w3cp.pdf) line bullet point

1) is for acquisitions and strategic investments,

then it looks like this placement is to sure up the cash for these deals and to just continue to work as usual.

We are still then dependent on the placement filling, and that longer term need the cash coming in from IFE.

In the mean time we really could do with some sort of announcement about Death Adder, BlackHill or Jumbuck coming up trumps to see a lift in the SP and holders participating.