When it comes to raising money for our mines there are different avenues open to us..

Once we establish that the gold and how much is actually there ,we can borrow the money to build the mine..This is standard procedure and no more share dilution is incurred.

For example here this morning is an example of raising $500 million ..

TORONTO, Sept. 10, 2012 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced that it intends to offer up to a US$500 million aggregate principal amount of senior unsecured notes due 2020 (the "Notes"). IAMGOLD intends to use the net proceeds of the Notes for general corporate purposes, including the funding of capital expenditures and exploration.

A share buy back somewhere down the road would not be out of the question but the gold would have to be flowing and debt paid down first some where down the line..

Open pit mining is becoming more widely developed in Canada,and profitable..

Detour Gold (TSX:DGC) founder Gerald Panneton says preparations to open Canada's largest gold mine in Cochrane, Ontario are 'in the last stretch.'

According to the Globe and Mail, the new Detour Lake mine is set to open in January 2013 and will have an eventual output of 657,000 ounces of gold per year over the next two decades.

The new mine is one of several projects being developed in Canada, including Osisko Mining Corp's Malartic project in Quebec and San Gold Corp's Rice Lake Mine in Manitoba, presaging an overall shift towards huge, open-pit gold mines more typical of desert regions such as Nevada or parts of Africa.

The mine is expected to considerably boost the fortunes of Detour Gold at a time when gold prices are finally breaking free of a stagnant period.

Well just an hour to go to the bell..Another week of trading.

Maybe close this week above .80 ..

Enjoy the day..

Portee