Ann: African Gold Investor Presentation, page-6

This is so strange. I have seen this behaviour in other gold explorers too. They drill their ultra shitty projects while leaving the by far most promising one undone, until they are completely broke and hated. Finally then they row back and say: "oh now if you give us fresh money one last time, we will focus our flagship project, of course every single dime now goes into our superduper project... blabla."
And you just think, why not 1 or 2 years ago, why does it always need a gun at their head to force those exploration guys to keep hands of their worthless crap projects?

Normally you would think, hey they are geologists, if they don't drill it any more, they know that the ore body is too tiny. But in fact they most times seem just obsessed with spending money on other shit.

To stay honest, sadly most of them see it as their primary job to collect money anyway. The mining thing is just the story that provides access to more dilutions again and again. They get their salaries every month, this is what counts and we shareholders are far away.