half yearlys

hey All

From the report

"NEV030, the second 1000m+ deep drill hole, has now reached a depth of 958m"

Artisinal Zone:
"Company isconsidering applying for a variation of conditions of grant of EL 1115 to drive several exploratory adits into the mineralised spur
and carry out underground drilling and limited bulk testing."
"NEV022 and 023 were drilled within the zone beneath the artisanal mine workings. Results have led to the discovery of a new high grade gold zone."

Although everyone thought NEV 26 was a fizzer it provides valuable info for the geos
"NEV026 results confirm that the gold seen at the artisanal zone is not just supergene in nature and that high grade gold veining does occur in the sulphide zone as well as the oxide zone"
"On the back of the drilling to date, it is planned to bring a third drill rig to site in 2012 to focus solely on defining the Artisanal"

GOA have 750k cash at the mo

"The Company has successfully raised
funds through share issues and debt funding on a number of occasions and the Directors are confident that this could be achieved should the need arise.
b) Since the end of the half-year, the Company has announced details of a placement and share purchase plan (“SPP”) to raise a
minimum of $4.1 million. Patersons Securities arranged a $2.1 million placement, and have underwritten $2 million of the
SPP."

"The Directors are satisfied that plans are in place for the Group to have positive cash flows through to March 2013"

The Directors are confident of having money for at least the next 12 mths
All of the above gives me warm fuzzy feelings and I have not included Croydon and Furrgie
Cheers