Laos : The gold results were as you say not ideal, they are not the last of the results and are for one of the two areas being investigated - the Century tenement. The other area (Xekong which inc the Ban Bak prospect amongst others) has not been worked on recently due to the wet season. This still has the possibility (even remote?!) of 'not being a dud'.
Kroombit : It is of some concern due to its low grade. From what I can work out there is no actual development timetable for Kroombit - eg. this year we plan to start production after completing x,y & z items.
Torrens : Cant call this a dud until all the drilling (and lots of it) is done. I believe that Olympic Dam was found on the very last drill of many. There's the issue though, drilling is req, and it aint happening atm.
Whilst there is plenty of $ in the bank and low number of shares on issue I am concerned as I cannot definitively answer the question 'what is going to make the $ here ?'. With roughly 1.5 - 2m dollars being used up per quarter (sorry if these are very rough!) that 6-7m in the kitty will be gone all to soon.
Anyway - I dont think its a dud as such, but it is certainly quite speculative and thats why the price is around .05cps. Getting close to the price where I'd throw in a few thousand at it just in case Torrens came to life..
Cheers,
Mark
ARE Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
