Ann: Corporate Presentation, page-30

Not even close to finished yet but so far I have:

Good:

• Near term financing commitments sorted with recent raise.
• Lots of ancillary projects to be funded from the main open pit gold mine, few or non of which are included in current market cap.
• Some of said projects have derisked exploration upside.

• A surprisingly solid joint venture with the government of Cuba, an unloved and resource rich area.
• Legal proceedings at approx x2 market cap for which could settle for around half around the time the open pit mine really needs the money.
• A very accomplished company head with a fantastic track record of value accretive company building.

Bad

• Looks like a bit of a one man band operation with an 83 year old figurehead preaching patience on what looks like a 2-3 year hold. I don't wish to be cruel, but I'm concerned when a company looks so top heavy, especially when I consider my grandparents are around this age.
• Self identified financing risks by Brian. What if his talks fall through and because of the Cuban environment other financing is hard to achieve?
• It's a bit of a slow burn share price rise to my mind.

Conclusion, happy to take a position when I have the money and if I can get a good entry and looks like something I'd happily average up on if things were going well.

For the regulars, these are the musings of a very tired individual interested in your company that spent an hour with their announcements. Feel free to chip in your bullish and bearish views.