found this interesting, page-11

their efforts to build a bigger resource is a double edged sword, dilution on one side, value building on the other

should of focused on south africa from the beginning, new tenements are great but means more dilution at depressed prices just to be able to drill them out as they will have to raise more money. I dont think increasing the resource will add much value in a market like this.

Tasmania is a good example. the acquisition of the TAS projects was a waste of time and money and as a result the overall reward for shareholders will be less.

At the moment acquisitions are only value adding if you have excess cash to pay for them.

I think the new tenements adjacent to Waterberg are great but i would like to see all cash spent on the BFS