Marama,according to their last presentation''Fully funded 2012 exploration programmes'' they shouldnt need to raise cash for a while.1.2 mill in kitty plus 4 mill coming from EDC.Not saying they wont need it down the track,it's obvious they will,but if they have to, the risks will be somewhat diminished.That's the beauty of the deal.Can you imagine having to spend all that money and the dilution that comes with it,to end up with a fizzer.
HRL Price at posting:
6.7¢ Sentiment: LT Buy Disclosure: Held