bogdan project - poland

A bit of a background on Poland and our next door neighbor KGHM:

Poland is recognised as a regional economic power within Central Europe, possessing nearly 40 percent of the 500 biggest companies in the region (by revenues). Poland was the only member of the EU to avoid the recession of the late 2000s, a testament to the Polish economy's stability. The country's most competitive firms are components of the WIG20 which is traded on the Warsaw Stock Exchange.

The capital of Poland is Warsaw.

Poland has substantial mineral resources. It has the world?s fifth-largest proven reserves of hard and brown coal, in addition to deposits of copper, sulphur, zinc, lead, silver, magnesium, salt and natural as well as deposits of chalk, kaolin, clays, and potash.

KGHM Polish Copper is one of the largest producers of copper and silver in the world. The mining & metallurgy company is based in Poland in Lubin.

KGHM is one of the largest Polish exporters, the largest employer in Lower Silesia (30,928 employees as at 31 March 2011), and a significant part of the WIG20 index (Warsaw?s Stock Exchange)? with a current MC of US$11B.

The Company generates enormous profits, and holds a strategic interest for the Polish economy. The year 2007 saw record results in the production of electrolytic copper ? 532,974 t ? and of metallic silver ? 1,215 t, and above all a record profit ? nearly PLN 3.8 billion (US$1.4 billion) and a future promising steady growth and an increase in the value of the Company. The targeted operating profit for 2011 is US$3 billion.

Bogdan Project:

The project covers an area of 42 sq km located immediately adjacent to KGHM?s operations and sitting along the extended feeder fault and very close to extensive infrastructure. Our tenement appears to be rectangular in shape with the long boundary about 10km long and the short boundary about 4 km long.
The regional feeder fault appears to run few hundred meters in and along the whole length of our long boundary.

If you examine the diagrams of the feeder fault (see today?s announcement), it can be clearly seen that most of the KGHM?s mines are located on or adjacent to this fault. Having 10 km long exposure to the fault can only be of benefit to Sultan, especially knowing that deposits like these are continuous by nature.

No wonder that Mike Ralston is so confident and excited about this project. Not only have we picked up a highly prosperous tenement, we also got it on excellent terms.

We also shouldn?t forget that our Chairman (Derek) is of Polish background so communication with contractors and authorities will not be an issue.

Looks like all steam ahead now with the initial 2,500m exploration programme commencing shortly and finishing by Christmas.

By the way, something just occurred to me:

Derek is Polish and we picked up a project in Poland.

Milos is from the former Yugoslavia and we are awaiting a project in the Balkans.

Guess where Mike is from? LOL

I?ll give you a clue.
It?s a 6 letter word that starts and finishes with an ?A?.
A _ _ _ _ a

That would complete our trifecta of new acquisitions! LOL

Good luck to all on Monday.