dondon

absolutely, the $200 million required is a statement of fact. As is the total current amount of $260 cash on hand being enough to complete Algar providing market conditions remain stable. I agree with you on the point that the share offering was reuired for future financing.

It's not a matter of glass half empty or half full, it's a matter of assessing what is being said and whether or not it matches real conditions. If CLL has $260 cash and needs 200 million to complete Algar, then there's 60 million to spare. Now if CLL requires oil to be around $45 to sustain operating costs and the price of oil HAS surpassed this since March, then it's not unreasonable to assume that CLL has been able to operate from sales at this point, and won't require dipping into the 60 million left over..Now Shiite happens and oil could collapse tomorrow, which means my post would become mute.