My take is that it will be financed through Haywood securities, and based on about $30 million in cash, the rest in debt. THe shares will be at about 50 cents, for 60 million or so more shares. This will be raised in about 18 mohths, in advance of a decision to build the mine. We have a long way to go before we need to worry about that.

In the mean time, there will be another PP to raise 5 million or so next spring, such as in May 2010. Hopefully the share price will be over 20 cents, as that will be another 25 million shares or so.

So we would have 300 million shares, but go into production without a partner.

That's my take, so I am cooling my heals for another year.

SKELEG