Ok, as I've watched this stock from within & without over 4-5 years now. Listened to the upramping/downramping & admit I've been in both camps @ various times. I won't regurgitate old concerns, views & delays, milestones etc etc as this is an exciting phase of the company. Forward toward production yeeeaaaahhhhhh! However, if sincerity abounds here with regards to commencement & maintaining of production once the hurdle of commissioning is leaped over (too early to say yet). Btw, I have recently mentioned Bassari as a prospect for others on another African sweetheart thread & was slammed & accused of cross-promoting & downramping the other stock so, don't think I'm in the Bassari downramping club as you'd be wrong!
Without a meaningless timeline proposal, I truly believe Bassari will go into production, just no idea when this will eventuate no matter what is said by management. Surely holders are resolved to expect further delays along the way, whether a fault of management or politics or come-what-may. This brings me to my main concern right now. A concern starring @ me in black & white within main intro of ann.
Although I truly believe the stock, although diluted to hell is trading below present value (not even entertaining pestimated worth once in production, esp if proposed quotas are met in the first quarter. I have an honest concern here @ present with regards to this makeshift Church & State style 'Binding Agreement' that has been thrust upon us! This!!!
"...As required by the Senegal Mining Code, a new development company, Makabingui Gold Operations SA (MGO) was incorporated. The seven person Board of Directors is comprised of four Bassari appointees, one joint venture partner appointee, and one appointee each from the Senegal Mines & Geology Department and from Senegal’s Finance and Economics Department."
Very interesting... red flag much? Yes? No? You decide the implications of such gov involvement due to the er, jurisdiction of this place Bassari are doing business in along with their new found company 'partners' but ignore it to your detriment? That's your choice! Take a step back from your investment decision (forget the profit you are expecting from your investment decision in gold here a sec) & simply contemplate the future implications (possible hindrance) such a joint venture brings with it. Perhaps you don't care? That's your prerogative!
