Not much info in the report, 2nd paragraph is still very ambiguous but I don't like the word "re-examine".
Maybe as a shareholder I just don't appreciate the tedious scientific methodology needed in trying to find these diamonds.
Matters subsequent to the end of the half year On the 28th of July Cluff announced that it has entered into an MOU with major listed Indian entity Varun Industries Limited (Varun) for the exploration and development of gold, platinum and gemstone projects on highly prospective granted tenements in Madagascar. The terms of the MOU provide for the establishment of an exploration joint venture over highly prospective tenements in southern Madagascar.
The company completed a comprehensive review of its recent exploration program at Bingara and its processing at Copeton and Inverell. The company is in the process of re-organising its equipment requirements so that it has modern and efficient operations in the future. The review of its recent exploration program has encouraged the company to re-examine all its detailed data on the north west trend within its exploration tenement from Monte Christo to Craddocks to Upper 4 Mile and onto Eaglehawk. A program of scientific analysis of the data and the methodology is now being undertaken.
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