update, page-55

just as an update

contractor rig is operational now. so all issues on that one is resolved.

other rig. sabre owned.. gearbox was not robust enough.. so how did management react.. if you follow the lead here of having a spare one, then that would fail just as fast, so to praise the management, they had a new gearbox made locally, transported (by donkey)and fitted. .. they started drilling.. new issues.. currently they are fixing them and have a sabre man on the ground there dedicated to it. so the sabre rig is handy and cheap in costs, but also fallin to bits as the gearbox and motors are made in china and have reliability and strength issues.. but thats probably to be expected when you consider the rig is like 1/3 the cost of the real deal..

soon the sabre rig will up and running

assays.

most are done and reported, so new ones will be as per industry standard 3 - 5 weeks, no issues with assays
just as soon as a hole is done i guess they will do their thing and get assayed..


corporate.

costs have been greatly reduced, spend is really come down, both here and there. so they can go a long long time now on the extra low budget strategy

obviously all shareholders would love a faster paced multi rig program..but current board is not following that strategy as we know

so for the next 60 days there will little news imho..

strong push to do regional targeting / exploration and strategic targets.. those are being considered. but i guess you need to have operations running on he ground before that eventuates

we always talk nehlen and we always get the same impression, local landowner is resistant to massive drilling on the farmers doorstep, but you get the idea they are working hard and have great relationship and doing all they can to explore targets like guchab and get cooperation. it will slowly develop to a point where the likes of nehlen will perhaps become workable exploration options.

oh,, and the new non exec.. is really interested in the ops, and is getting involved a lot,, not full time as such, but is really keen on the sabre story.. so imho there will be a change in the wind as time and experience tells its tales.

imho.. if you do like the geology and think matt can get it done and find some great stuff.. this share is dirt cheap like so many are in a depressed market..

nothing for 60 days imho.. maybe longer.. then as they gently step out on the guchab structure we will get to know more


geology..

still think matt is on the right path, he is not old school, understand the structure way better, and without him imho this exploration target may not have been drilled this well this cheap..

good luck to all holders..