Tolga Kumova and Robert Jewson (very respected geologist) are good additions to the shareholder registry, both with a substantial stake. Robert Jewson is the managing director of European Cobalt where Tolga Kumova is the non-executive chairman. Robert Jewson also heads his own geology firm, geonomics.
Tolga will only invest in gold plays where his team have done ample due diligence. That should give some confidence to existing holders that the Yalgoo Gold Project has serious potential.
In addition, I welcome the involvement and stake in FFR from Aurum Minerals. It is always a positive to have the VENDOR invest in the project they're vending. It shows genuine interest in the prospectivity of the project and not a simple flog off.
As for Aurum Minerals, these are the same guys behind PC Gold, Ashley Pattison and team. They're real mining people and have experience in owner-operating actual gold mines.
When you combine the new highly credible additions to the registry, the vendor an experienced mining firm taking a stake in the project, the future is looking very bright.
I am also pleased with how quickly the team moved to secure the approvals for 10,000m of RC drilling which is to commence in 7 days. I think existing holders should be very pleased.
We've got great prospects too and we know there is gold in the region as there is an existing shallow non-jorc compliance resource of 140koz at Melville and lots of excellent looking satellite deposits and new targets.
