burnakura sold, page-9

Dear prhb

prhb (03/10/07) "While understanding the frustration of some, I don't think the facts completely support Bargold."


I have been a loyal shareholder of TTR's for over 16 years and am well aware of their plans, dreams, aspirations and actual achievements during that time.

I refer you to the "Shareholder Update" dated 6th October 2006 in which it was stated ...

"The Company and its joint venture partner Burnakura Pty Ltd, (a subsidiary of Extract Resources Limited) have resolved to close the mining operation at Burnakura with the ultimate view of disposing of this asset....
.....The Joint Venture is controlled 50/50 between the Company and Burnakura Pty Ltd and was targeted to produce 36,000 ounces of gold per annum Although Burnakura is considered to be a viable operation, the Board has determined that shareholder value accretion can be best generated from its Phillips River Gold
Project and has decided to refocus it’s financial and human resources to this project."


Near enough to 12 months ago I reckon.

RE Management changes: I accept some changes have been made and acknowledge the track record of Hamish Bohannan.
My previous post was alluding to the changes that have not been made.


Also you say "normally this kind of announcement would have seen a lift in price"

For the life of me I cannot see why you would think that. Gold price is close to all time highs and TTR is giving away its 50% of a gold mine producing 36000oz pa for $3m+

Guess the $3m+ will now alleviate the need for a capital raising - dont think so!!!

I don't want to appear argumentative but which facts don't support my previous comments?