Hi MarlboroDog!

The cash cost is something we can all relate to - so that's always a good point. Thanks for sharing the info.

Your other point

And if there is an assurance from one of their backers that funding can be negotiated, it may be a low priority.

is very interesting - because the terms would make all the difference between a good and a bad deal for the NOT retail investors.

On one hand, deep pocketed investors are nice to have if the company can get a loan from them, thus avoiding dilution. It's another story when the loans are made convertible, as the last loan NOT got from RCF approx 2 years ago. Everyone knew that the final financing couldn't get done within the first year, and the option to get shares in stead of cash interest payment, has been pretty diluting to the other investors, at least untill the stock price went above the $ 0.5 level.

I have read somewhere that the most common financing mix for mine construction is 40% equity and 60% loan, in which case NOT would have to raise approx. $ 240 mill., and in that context the question of listing on TSX-V or TSX might be central to other shareholders than RCF and Baosteel. Is there som truth to this?

Regards

DRA