Cluff is enthusiastic about establishing a mining operation in a country in which foreign investment in mining has been negligible in the past, and potential for discovery is immense. It is pressing ahead to take this vision to a reality. Countries such as India have potential for the application of western exploration and mining methods to highly prospective geological terrains comparable, in the case of India, to the Archean and Proterozoic terrains of Western Australia, but to a large extent undeveloped. Enthusiasm, however, must be tempered with reality, as there are real reasons why these areas have not been commercially developed to date, many of which were identified in the Independent Experts Report. Cluff is not prepared to recommend to its shareholders that they invest in such a foreign exploration and mining operation until these factors are understood, quantified, and the time frame within which they can be addressed is understood. Accordingly Cluff is pressing ahead aggressively and positively towards completing its due diligence, and pulling together a commercial arrangement and work program which minimises the risk factors, and has a good chance of achieving our aim of production in the short term. This program is also aimed at giving us a strategic edge on further mining opportunities which will inevitably develop in a country with as much mining potential as India.
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