Great to see the insurance claim has been settled with payment of $1.45m to BDI !
Based on the $406k cash on hand at end of the Dec'13 quarter and the additional $1.45m cash from the insurance payout, the shares are trading below cash backing.
With Dave Porter (the major shareholder of the Coy having previously invested $500k to take up his shares @ 2.5c) becoming a Director recently, we now have the cash available to proceed with additional drilling at the Diapaga lease in Burkina Faso and also be ready for other opportunities.
Porter has an excellent exploration track record (refer his CV on the Company site) and I'm looking forward to seeing where the next 6 months will lead us.
Ann: Insurance Claim Settlement , page-2
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