Sorry, I forgot the "bought deal" where an institution or sometimes a mining company or competitor will buy the whole pp for their own holding. This usually involves shares and warrants, but also, often has a clause where the bought deal placer is protected from dilution in further pp's by virtue of a first right of refusal. Many of you will recall this from the Cliffs first right with any pp done by KWG. Cliffs is able to maintain it's 19.9% by participating in any future financings according to their % ownership.

Thse deals can be a blessing and a curse depending on how badly you need cash!

GNH is not in the position of having to do thse types of deals. I'm guessing we're easily in the "best efforts" league and should attract a very worthwhile investment banker. A benevolent institution would be a good thing as well........not likely though unless FC is a magician.

...........then again......

................Carry

ps, Thanks Snug........your a gentleman........scholar......and if you'll indulge me, we'll find out if a judge of good Scotch Wiskey.........Dalwhinnie 18 ???