Looks very very close to the historic and current Tigray/Eritrea conflict zones, see link below.
Poor road network; miles from a port on secondary roads; unskilled workforce; any drill rigs in country? no Geotech specialist in country. Why didn't we take our own independent geologist, Cornelius and McPherson assessing the geological attributes is a bit pointless as neither are qualified.
Why haven't the only operating gold miner Sichuan Road and Bridge (the company that bought our share of Colluli) jumped on this massively speculative site, they have the only in country production of gold. Cornelius say's he's "VERY CONFIDENT" based on historic artisanal data, and MINIMAL MODERN EXPLORATION can he inform/provide the shareholders fully/to of this exploration data he is relying upon to be VERY CONFIDENT. A junket trip at best.
This appears to be a complete strategic mismatch-derisked cash on hand should find a more derisked project to build and create value. This looks like a quick way to destroy value. Chances of finding an economic discovery within 5-10 years is on the balance of probability...very low.
How much tax did we pay the Eritrean Government last time, was it US$47m? Not bad for a free carry.
Who will build the required infrastructure this time and will they require modern slavery?
Conflict Zones:
https://www.google.com/url?sa=i&url=https%3A%2F%2Fepo.acleddata.com%2Ftigray%2F&psig=AOvVaw1sn6zkvZk_bPPThIXcazfn&ust=1730349399924000&source=images&cd=vfe&opi=89978449&ved=2ahUKEwju_-n7o7WJAxVeSWwGHdlCJqAQjRx6BAgAEBk
Road Network is outlined below.
https://ontheworldmap.com/eritrea/eritrea-road-map.jpg
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