Rod:

Exactly. According to my calculations, if you include last tranche of PP that is inevitable and associated warrants, if SGX share price gets into the mid-20's or so they would realize $5.7 million via exercise of outstanding warrants in addition to PP $3.75 million just raised. That's $9.5 million total. More than enough to poke more than a few holes into East Jacobus. Don't forget about Ni-Cu Jacobus "continuing geochemical study is designed to evaluate the possibility that the currently outlined disseminated mineralization represents a magmatic conduit from a large body of massive sulphides at depth" that may also deserve a few holes. $9.5 million more than enough to finance throughout 2009 and beyond IMO.

For reference, last PP of $5.48 million last October plus about $3.2 via warrant exercise (total $8.6 million) was enough to drill 1500m (71 holes @ 200m per hole) at Onaman, 2500m at Gold Hill, associated assays, East Jacobus aerial mag surveys, stripping, trenching, and sampling, a very nice bridge (LOL!), and much more during 2008 (including preliminary exploration work at Paint Lake and King Solomon's Pillars).

red911