Don't mean to jump the gun here but, Id say the answer to your question depends on a lot of things ... one of which is warrants. It looks like 8 million will expire in March but the rest have some potential to be in the money and most have early ecall clauses so even the october 2010 warrants are in play is SGX takes off.

Number of Exercise Expiry
Warrants Value Price Date
8,000,000 $1.25 March 19, 2009
937,500 $.22 March 19, 2009
150,000 $.20 March 30, 2009
3,651,500 $.18 July 11, 2009
1,786,000 $.19 September 1, 2009
5,428,570 $.19 October 12, 2009
5,480,000 $.75 November 14, 2009

PLus

3,951,000 $.20 October 2010

Let's also not forget options thatcan be exercised as well.

It will also depend on what they find when they drill and how agressive they want to be given what they find.

It also depends on how the SP reacts to what they find.

And it will also depend on what happens in the market over the next year ... The fan is still turning and there's pobably more "poop" to fly with regards to the economy and markets in general ... how will the venture exchange react when the Dow and TSX and other global markets retest the bottoms of November 21?

I personally don't think even management can give you an answer to that one ... "except maybe, based on what we know now, there is enough cash for our wnter and spring drill program on Jacobus east."

It may not even be question of will they raise more money but rather can they get it.