Strike,
I'm in the go-for-it camp.
Even if a (Pre-?)Feasibility Study is going to cost Tyhee a million dollars (about half its cash), Tyhee should go-for-it!
Now, the estimated million could even be less since a lot of the economic study work's been done.
I hope that Webb makes an incautious, maybe risky, dash to advance on that milestone even if this credit crunch persists.
Baires