Interesting document and I've got mixed reactions. 1. Some of...

Interesting document and I've got mixed reactions.

1. Some of those hits at Tajiri are excellent and it's very encouraging to see some strong rutile results given the relative strength of rutile compared with the other hms prices. I'll have to go and look further into it but the make up of the better results reminds me of the sort of spread that BSE has at Kwale where a large portion of their production is the higher value rutile and zircon.
2. Tajiri North not as good but the numbers are still in the right ball park and there's plainly a LOT of sand to work through in that region with 20km mineralised zone across both Tajiri and Tajiri North. If recovery proves straight forward perhaps a low grade but large scale operation one day?
3. Fungoni. Interesting to see the introduction of new strategy. It appears they have opened up to a cheap recovery operation to get cash flow moving. Target of 2017 for production if it all stacks up. Fungoni looks to be a modest resource in both size and quality but there have been examples of small private operators doing well off these sorts of resources. I recall fellow hotcopper member Peppie suggesting similar approach should have been used at Coburn to get cash flowing and I agree. If it can be funded modestly and drive free cash flow into the company thereby reducing future capital raises then I would support testing it out.
4. A mention of opening up to exploration in Tanzania for other commodities. I note specifically mention of lithium and cobalt, two common ingredients in battery technology, particularly lithium for lithium ion batteries. Acknowledging they are talking only low scale investigation however on the face of it I am not happy about this. Whilst a good quality lithium find probably would draw a lot of attention, having gone to so much trouble to hone a focus on sands, this sounds like a distraction and diffusion of focus and potential cash drainer. To be frank it sounds like the challenge of raising capital in this environment is sucking management back towards the spec junior trap of chasing the wind of the flavour of the month commodity to pull in capital. IF that proves to be the case I will probably look for the first good opportunity to exit and re-evaluate.