AIW What a Joke, page-11

You'd think management would now be able to give some update as to the status and details of the Mozambique project since they've promised production this quarter and are seemingly to give a presentation at this conference. It certainly wouldn't be appropriate for the company to first release details at such a conference and I doubt they'll get a good response if the only details released are the same as what they've told the market ie:

"Muda River Gold Project
The Muda River gold project is located in the Sofala Province of Mozambique, 120 kilometres WNW from the city of Beira. The project area is approximately 512km2 and comprises of 4 contiguous
prospecting licences.
The project has widespread artisanal workings present which have a history of producing a substantial amount of alluvial gold. A significant amount of work, both geological and engineering, has been completed on the alluvial gold potential of the project. AusAmerican intends to focus initially on the near-term production potential.
The company aims to earn its initial interest in the project by bringing the project into production by Q3 2014. The company intends to utilise funds from this production to fund exploration on this project, Blue Bell/De Soto copper projects and for working capital purposes.
Details of the Transaction
The company has entered into a Heads of Agreement with Mauritius based Crown Mercantile Limited to earn an initial 40% of the Muda River Gold project located in Mozambique. AusAmerican has paid a $50,000 option fee and can earn an initial 40% by spending $1.5 million.
The company has negotiated that 100% of the funds required to bring the project into production will be fully recovered on a priority basis before any distribution to project equity holders. On achieving the initial 40% interest, AusAmerican has a first right of refusal to acquire a further 35% of the project; the terms of which are to be negotiated".

I know I didnt and wouldnt invest a cent on the strength of this "fantastic" new project as disclosed; especially noting AIW's history of broken crack-pipe promises.