General discussion, page-7457

further to this post, and so everyone understands…

Our grade will see a very quick immediate upgrade from works at morila superpit. I think people have become overly concerned that we do not have the ability to get to 1g+ material at speed.

The Morila pit mining starts from the western side… what we have to know about this pit is it is so large in terms of land mass, there can be multiple work fronts working in tandem.

They have now smartly chosen to halt repatriation in order to save costs. Please understand this will have no bearing on the western side of the pit.

Waste repatriation largely affects the pit floor . That’s where Morila is almost purpose built for what we are doing here as the western side has a gradual slope running from ground level slowly down towards pit floor and is more relevant on different sections of the pit including underground / stage 2 etc

finally, holders should be reminded the first approx 4 years of mining ARE possible without repatriation. In fact, they would have been possible without dewatering a significant portion of the pit…

once again, the asset is not the issue here. We have an immediate cash flow issue that needs addressing… that’s on management to resolve.

just a reminder, rebuild costs of the plant stand around the $300m mark and thats pre Covid inflationary global pressures… a substantial amount of money and time has gone into making this asset mine ready again.

I think it is truly laughable that people believe the company would have any issue selling it off of that is how it had to go… There are multiple companies working not just in west Africa but also Mali itself, with business plans built on acquisition and expansion. The project would have been snapped up quickly originally if it was publicly offered for sale… I don’t doubt interest would be higher now.

Currently, our dated LOM plan ONLY covers 1.45m oz for a grade level of 1.3gt… it does not cover ANY underground ozs that were known about on acquisition.

So as Morila sits, there is over $300m of rehabilitated plant ready to go at a run rate of some 3.5mt, a 2.4moz project resource (pre update), a dewatered mega pit shovel ready to produce gold, a new LOM plan ready to incorporate 40k of additional drill data, an inclusion of underground to the LOM plan, resource upgrades, machinery onsite or close to being onsite, workforce / contractors ready, a future farm-in solar field contractor (I believe selected), a yet to be utilized and revived SAG mill sitting there waiting for a little love (I’d be assuming 2023) to add an additional 1mt input rate…

but some don’t think we can sell it let alone give it away… I’d probably advise you to go study mine sites for sale in west Africa… this is an established gold region…

managements task to sort out the current issues… I’m still of the belief we aren’t too far away from getting this right, no doubt the sale of the LLL shares would have covered the remaining issues to production… the fact we have hit issues however are not underwater in debt, I believe, is being completely over looked by many.

I can’t explain why we are in this predicament nor why things like annual listing costs arnt being paid… but from where I stand, Morila remains world class, LLL holdings remain world class, both are not of immediate value to our cash flow issue… sort it out BOD, I’ve seen companies in much more of a dire state work their way back to strength… find the cash to get us to positive cash flow, enjoy a decade of reward.

call me a happy clapper all you want, the asset is world class, the management has been less than. We are close…