re: Ann: Media Release - Quarterly Activities... RE: Mav77The...

re: Ann: Media Release - Quarterly Activities... RE: Mav77

The "megamine" isn't a "key" asset as you so claim, it always was a longer term and riskier proposition. The current East Modder mine is low depth and very easy to strip mine. The "megamine" despite the name isn't a very good investment when compared to EM or Venter, it's much deeper underground which brings additional risks from a technical point of view (cave ins, injuries, ores and rocks behave differently under the massive pressure).

The Sub Nigel one shaft is a training center, I doubt the production from there was comparable to EM production figures, due to the "noobs" learning the business of gold mining there, wetting their feet so to speak. Only once they are fully trained on Sub Nigel do the operators then go to work on EM, so the "loss" of this asset is similar to crying over spilt milk.

Goliath Gold is a very positive announcement for GDO, as currently the MC doesn't reflect the value of EM + Venter, let alone the "megamine" on top of that. This transaction allows GDO to be able to have a more accurately valued MM, along with the extra tenements and resources that White Water bring to the table. I'm someone who doesn't like companies doing value destroying transactions (under written share purchase plans anyone? Capital raisings in disguise) but I can't see anything negative with the WWR + GDO transaction.