targeting upto 2 bill t @ 60+% fe - africa, page-18

There are three highly probable events before the end of the qtr. These are :-

1. Continued drilling is/and will be cheap (they own two Drill diamond rigs on site).

2. They will continue hit more high grade FE and with diamond drilled core the certainty of what they have will be high.

3. Given the rate they were burning cash last qtr it is likely but not a certainty that they will raise at some time before end of qtr (6 weeks or so away).


If it were my company I would announce as many drill results as I could before a cap raise occurs.

The share price could half or double in this time. Which is more likely? Hmmm...I'd say overall the price pressure is to the upside...So you could sit an wait for a cap raise to occur and watch the price kick away from you or enter now and risk a cap raise tomorrow. It's all about probabilities.

Watched many stocks race away from me whilst thinking a cap raise was around the corner when it wasn't. It a personal decision really. Good luck with it