Ann: Karouni Gold Mine, Guyana - Operational Update, page-50

I still think take over of Azimuth was a good move

Run away inflation in Argentina was the start of the problems, Casposo had been paid off and cash flow from their was going to fund development of Karouni. But runaway inflation in Argentina,problems with exchange rate and falling gold price, try was hit with a triple wammy and hence the loan and CR to fund development of Kurouni.

Well done for try to develop Karouni with a low cap ex, though higher that expected. After a good start, then a number of major issues came up.

In more resent times LOM is the issue but with OC that is looking to be resolved

The recent unfortunate accident is just another issue that has put a dampener on moving forward