My only concern is their cash position. They have absolutely got to come up with self sustaining cash flow in this market, otherwise they expose themselves to the risk that the macro situation gets worse and new money drys up- then the stock will go to $0.05 no matter what asset is there because risk aversion would be the order of the day and the company would be broke.

Steve - cash flow should not be a problem. They are very close to cash flow positive. Gestur says it will be close in Q4 but cash flow positive in Q1-09 for sure. But, even if he is wrong and it takes a little longer, they just raised a pot full of cash to work with - I cannot see this being a problem...their cash position is one of the most positive aspects of this mining company relative to its peers, IMO.

NL