Just scratching around in ore collected years and years ago. There has been no recent drilling, these, like the reports in recent years are just rehashes. A precursor to a nice fund raising to fund the December payroll ( for the 2 employees, Forrester, age 75 and his wife).
on analysis:
1. extremely low grade, probably not economically feasible.
2. no power in the area. With no power they can’t even get a BFS;
3. the license to explore in Botswana is coming to an end, they hope to renew, but by my calculations they didn’t even meet the minimum spend as prescribed by the Botswana government as a condition of the license for the past few years;
4. the ‘strategy and management’ driving the project is Forrester. Look at his track record to see if he can offer shareholders anything. At the darkest hour of the company, a few years ago, he was raising funds from shareholders, who all but lost their entire investments, whilst he continued to draw a big salary ( for doing what, who knows) and paying himself 4% ABOVE the official rate of interest in Australia on his loan account!!! He had an attack of conscience and amended the rate some years late, but in the face of a 99.9% fall in the share price under his ‘leadership’ it is shameful!
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Just scratching around in ore collected years and years ago....
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