another large line going through

On the sell side this time of around a Million. I wonder if this is the same person / company that bought 1.1 Million a day or so ago ... A little disappointing as I thought the quarterly was not too bad all things considered. Bit disappointing on the Mumbwa side of things for the drill program to be delayed due to water however there's not a whole lot that can be done on this front.

Ultimately offtake arrangements are needed here along with the box cut to be finalised and all that kind of thing. Boxcut is currently a month behind schedule (according the update dated 14th March) however all other schedules appear to be more or less tracking according to schedule. Cash burn rate is not looking too scary with anticipated cash outflows for exploration and development for the next quarter being about 19 Million and 2 Million for administration (leaving an anticipated balance of cash around 53 Million) for this quarter. I would suggest that it is not outside the realms of possibility for the debt funding to be secured before the end of June however even if this sourcing of cash is delayed for another 3 months AIM has sufficient cash reserves to continue development. Mind you, things get a bit scary around Dec 08 IMHO.

One of the most promising things around this announcement was the comment about the apparent willingness of the two parties (AIM and NS) to discuss their differences and delay court proceedings. Whilst not out of the woods yet it is a good development.

Anyway, as always, this stock is not for the faint hearted and is far from a raging buy. I am cautiously optimistic around the future direction of the company however we have a very long way to go.