AS1 Discussion, page-3

What you're hearing is probably a pretty good reflection of what's happening: nothing. Or at least, nothing significant enough to require disclosure.

As at the last quarterly we had:

• Kada, Guinea: Excellent mining characteristics with soft material, excellent recovery using low-cost CIL process, decent grades, near the surface. But lots of drilling, assays, modeling, and planning required. That means lots more money still to be requested from investors.
• Kouri, Burkina Faso: Discussions, but clearly no offers. The problem as I see it with this resources is that it's patchy and veiny, which is risky with such a low indicated vs inferred proportion. The overall resource grade and stripping ratio is pretty close to the limit of viability at a safe assumption of the gold price. And with the possibility of gaps in the resource where drilling has been sparse, there would be a lot of risk for a buyer. This will either go cheap, or it will be on the company's books for a long time.
• Paguanta, Chile: Not even in discussions. This is a prospect has decent grades, but it's hard to gauge the size of the potential resource. The target is open in several directions, so it might turn into something large. But the logistic problems of turning this into a mine are substantial. Ore transport would have to be by road, and the first 45km from Paguanta to the port at Iqique is dirt road. I posted with maps here (and I stand by my description of it as a "mongrel" of a location): https://hotcopper.com.au/posts/66514038/single
• Loreto, Chile: In discussions with land owners and local communities for project access. The project is also encumbered by legal proceedings. Tek is unlikely to do anything with this prospect until these issues are dealt with.

Just to clarify; I'm not optimistic about the chances of good news from anywhere by Kada. I expect funding to be entirely in the form of capital from investors. Convertible notes to fund drilling are okay. To a point.

Within the next six months I expect to see, in this order:

1. Some positive news regarding Kada.
2. A share consolidation of at least 10:1.
3. A significant capital raising (placement and SPP) to fund further development at Kada.