ok guys i just spoke with peter komyshan - general manager for exploration
i asked him the following questions and i got the following answers:
Q: hello, my name is erik, and i am a shareholder of anglo... i just have a few questions for you A: sure
Q: i dont think i have to point out the recent share price action in response to the latest quarterly announcement... A: yes i am quite well aware of that. Q: yes there has been a lot of 'downramping' lately, as they say.... A: i am aware of the comments that have been made. despite what anyone says we are working very hard here. just because we are not constantly announcing things it does not mean we are not working hard.
Q: then why are there no regular shareholder updates? answer: we are working on a lot of things at the same time. there is no point reporting on things that are not complete. how can we report on things that are half done? it will do nothing to the share price or for shareholders.
Q: from my understanding you recently hired a geologist to look into koongie further.... A: ummm. no. we were certaintly advertising for one though. but we are still short on geo's...
Q: why has the metallurigcal testing of koongie park been so slow? answer: we need to get the metallurgy right because that will form the entire basis of an operation there. Q:but you said its going to take another 2 quarters... answer: well that is just us being conservative. i personally dont think it will take that long. however the metallurgy is very important. Q: it is obviously very economic koongie park though... i have worked out the NPV and it is around $200million given the 60% primary sulphide levels at onedin and the 30% primary sulphide levels at sandiego... AAR can easily see several multiples from here on the back of this. answer: i believe it is the other way around with onedin and sandiego Q: oh yes, ofcourse, my mistake A: yes it is clearly economic as you have said, and you are right to point out the primary sulphide levels. however we still need to focus on the metallurgy, it will be essential for all future operations there... so we are able to produce a salable concentrate most efficiently. we are not just going to go out there as things are and start digging without this knowledge.
Q: I assume that after the metallurgy is complete you will commence the BFS? A: we are already incorporating that into our studies at the moment.
Q:onedin will be able to be open pittable, is that correct? answer: yes - it can be - however there is no point until we have the metalurigcal results
Q: it is my understanding that koongie park is open to the south and at depth - when will u be doing follow up drilling there? answer: it is more open at depth than to the south, its only a bit open to the south. obviously i would want to drill that prospect as soon as i possibly could, however finding the equipment and labor is difficult. i am interviewing someone tomorrow for it though... so we will see what comes of that
Q: the 2km at mandilla also looks very appealing... A: yes that is true - however even if we do get the labour/capital it is still pretty much a long shot for now.
Q: why dont you issue stock options to staff and management? A: but... we already have?? Q: thats the 3million options i can see in the quarterly correct? A: yes, that is correct
Q: ok well, im still holding, thank you very much for your time A: thank you Q: sorry what was your name again? A: peter komyshan, general manager for exploration Q: ok thank you peter A: you were erik yes? Q: yes A: thank you Q: bye bye
well there you have it. he sounded quite convincing to me over the phone - im not sure it has the same effect as a transcript. he had a huge emphasis on the metallurgy. obviously once they get right things will move very fast from there... also interesting to note the labour/capital problems - but he is already interviewing someone tomorrow... so its clear they are not just sitting around on their hands doing jack all.
AAR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
(20min delay)