Abu Dabbab Tantalum, Tin & Feldspar Project, acquired October 2001, since then we have spent ;
exploration $ 11.2mio
development $ 2.67mio
admin. $ 16mio
How many times close to finance, how many international banks have we spoken too? ..... lost count
February 2012, I say SELL !!! ABU Dabbab.......Move On !!!
Noah's Rule put a low point NPV to Gippsland of $94.6mio at 20% discount rate. Put it on the market & see who comes to the table. Negotiate a cash sale.
Give Noah's Rule a mandate, market the project in Japan & China...SELL IT !!
Sell the Asset Mr G, SELL Abu Dabbab.
It is time to face reality & move on.
Abu Dabbab Tantalum, Tin & Feldspar Project, acquired October...
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