announcement out on asx , page-110

Hmm.. big question..

Like others, I was excited when the initial high grade results were announced a couple of years back (has it really been so long?)..High grade deposits are easy to develop and largely self financing. I also know ATP of old (though haven't seen him in many years) and know that he's not someone to make mistakes. If it wasn't for his continued involvement I'd have been out long ago (wouldn't even have been in to begin with).

Another reason I'm still in (only about a million shares) is I don't want to lock in losses... (I'm averaging at about 10c)

From my perspective.. to be successful, an exploration co needs to be agressive and focused from the outset: they passed this test. Once a 'commercial grade' deposit is found then plans need to be formulated and acted upon to exploit this deposit and lever off it onto the next stage of mine/mill expansion and resource/reserve upgrade: we sort of had this box ticked too (trial mining licence and DSO of HG ore) this time last year though have since drifted.. Last year we had plans for production and self financing; this year we're still drilling and dependant on cash from 'agreements': to me that's a bit flakey and leaves us vulnerable.. especially when further exploration isn't really coming up with the kind of trumps we were used to 2 years ago.. Add to this the excessive share dilution; overseas location and; ASX listing only, then, to me at least, it isn't surprising the SP is lacklustre. Kalenn and dazhrr mentioned how they'd be crazy to invest in the Congo.. wrong, the Zambian/Zairean Copperbelt has a strong mining history, culture and infrastructure and is good and strong (protected from much of the political shit of the host governments).. I'd invest/work there in a heartbeat. Don't get me wrong, nothing wrong with Brazil (6th largest economy in the world).. but unless our projected RoM grades increase (with tonnes to match) then it'll always be viewed by mining analysts as a pisswilly operation off the horizon without significant profit potential to offset the risks. Unless we accidentally hit oil or drill through the floor of Fort Knox soon, i'll be happy simply to break even (mb +10%) and move on...

And whoever said this was a traders stock is also Spot On..
easy money (though hardly fortunes) to be made at the margin doing the pump and dumps on the Anns.. Unless we hit a radically different orebody (or motherlode) and analysts can smell production profits, then I really can't see this stock breaking through 11-12c on the typical news being released no matter how much of it there is. Even 10c (sustained)looks a distant propositon.

OK.. that'll do.. enough worries to think about on this mine here!: I sincerely hope to be proved wrong in what I've written here lately so as to be able to crack the Champers with the rest of you...

BT