Yixter said and I concur:
"One thing to note the 10 million cash is what they should be around come the end of the year, now if eagle 1 is as successful as we all think than finding money will not be a problem!"
Actually doing a PP is not needed yet and when needed the price should be a lot higher than it will be in the immediate future. Then will be the time to talk PP (December?). Basicly all this talk at this time of a PP is a waste of time.
Similarly the possibility of a buy-out by a biggie is almost as irrelevant because a biggie generally does not buy on rumour but verified resources. We need a lot more drilling to demonstrate that resource.