somethings brewing, page-15

Hi Wilcox,

from my discussions with them and reading between the lines .... very short term I think there is one particular opportunity and maybe a second for them to secure a large cash injection either via deal or large investor in the US and hopeful expectations are of this happening are pre Christmas. I have no idea if it is along the same lines as BHP, Kronos or much smaller or different.

In discussions overtime (while the sp has been rock bottom) they have always maintained they will never dilute the stock with a large company/investor at these prices and that they would aim to splt the injection/deal for some cash via a placement (at a higher price) and more via a convertible notes or similar.

What they hope for and get isn't always what they want!!

What they say they will do isn't always what they do!!

Short of anything like the above I would expect a CR either side of Christmas.

As far as the R & D I think you are pretty spot on.



Cheers