drilling results 2011, page-6

I'm getting bit worried also.
not sure if i'de put it in the dog basket just yet...but certainly not impresses by managements communication.

drill reuslts could be up to 3 months late; what do they have to hide.

as for $2M placement.

announcement said:
"Funds raised from the issue will provide additional working capital for the current Mangalisa
drilling program underway in South Africa.
Additionally, the company is currently renegotiating revised terms with Raptor Capital LLC to
provide an underwriter to the proposed rights issue previously announced to raise up to $9
million to continue the drilling and exploration on the Mangalisa Project."

looks like it went straight into drilling, testing etc...

we better get some seriously comprehensive results soon.