re: Ann: Quarterly Activities Report and Cash... Feysville:1....

re: Ann: Quarterly Activities Report and Cash... Feysville:

1. Rogan Josh:

- it seems that we have extended the resource area by 50m to the south from what we thought to be an already defined area, that means obviously better chances of getter more gold out of Rogan Josh.

quoting the qrtrly:

"While these holes were primarily designed to test bedrock targets, they also obtained shallow intersections including 1m @ 5.13g/t Au, 1m @ 3.93 g/t Au and 4m @ 1.47g/t Au) of supergene mineralisation that EN. The
supergene mineralisation was extended southwards by 50m with a shallow intersection of 6m @ 2.34g/t Au obtained on the southernmost section drilled. The supergene meneralisation still remains open to the south."

- Rogan Josh seems to have somewhat MINEABLE type of geological structure (normal type of rocks) which were described to be similar to HANNAS SOUTH, which was ok to be mined!! therefore, THE RISK OF HAVING SIMILAR PROBLEMS TO EAST MANDIALLA COULD BE LOWER becuase management seem to see it the similarity to HANNAS SOUTH getting stronger!

Those who were wondering to whether Rogan Josh could face the same destiney as East Mandilla could chill & relax slightly!

quoting qrtrly:

"Rogan Josh appears to be similar to the Hannans South deposit where gold grades are enhanced in the weathering profile as a sub-horizontal blanket overlying broad zones of generally low grade mineralisation in the underlying bedrock shear zone"

2. Delray:

obviously delay proves itself to be more interesting area full of more gold the more we dig, therefore the qrtrly suggests that the target resource area is still open to north & south & that obviously is a good sign that we could find better grades & extend the gold present areas.

quoting qrtrly:

"The current drilling has demonstrated the strike extent
of the mineralisation to be at least 100m and the mineralisation remains open to both the north and south.
Further drilling following up these promising initial results is planned"

to Answer GAZZAT's questions:

1. Rogan Josh is the area that is SEMI-READY now to be mined becuase we somehow could define the boundries of the gold present area.

the issue here is whether that new 50m to the south will mean MORE HOLES to be drilled to explore more or if we'll stop here & start counting the eggs.

next logical step after defining the exact area of mining is to get a contractor to tell us how much gold is inside Rogan Josh & there will be some environmental plans submitted to govt & approval taken to mine & then we start.

the question here is WHEN will the decision be taken to go ahead, if management would take a decision today to get a resource count on Rogan Josh then I would assume that we'll be mining Rogan Josh within 5 - 6 months.

2. I think this question about what will happen if money runs out is really up to anyone's guess!!

In my own opinion, I would suggest that Rogan Josh will come in with cash before we run out of cash!


Koongie Park:

1. a new drilling program will start in May & will last until August.

2. it seems that someone has decided to test the metals available on close to surface areas & which will be obviously much cheaper, faster & easier to mine!

that could "IMO" help the feasability study in showing what will be the short term revenue from project (first 1 or 2 years) & give accurate expected income at the begining of the mining process assuming that shallow depths minerals are usually done first & are the cheapest to dig out!

the geotechnical work mentioned is about finding the stability of the rocks to see where the mine is going to be built & how big, etc.... that obviously supports the success of an ongoing feasability study building process.

quoting qrtrly:

"This drilling program is designed to enhance and advance the Pre-Feasibility work currently in progress by:
- Targeting shallow high grade supergene copper resource extensions at the Sandiego
- Targeting high grade copper sulphide depth extensions at Sandiego
- Testing potential strike extensions of near surface zinc sulphide mineralisation at Atlantis.
- Testing an EM anomaly 200m south of the Onedin deposit.
- Drilling for geotechnical purposes"

other issues mentioned in KP are all related to the feasability study drillings & geo-technical studies.

I like this last bit as well:

"It is anticipated that the drilling program will result in increased resources at Sandiego(particularly copper), improving the viability and together with the continuing
development program will advance the project to feasibility stage."

overall, we are on track & we continue to go in straight line towards both Feysville & KP.

Like Gazzat, I've noticed the enthusiasm & noticed the much more postive language in describing grades in all projects.

I think this could be the most "reader-freindly" qrtrly they had in a while.

spendings is much but again we are in the serious end of the drilling stages now & it has to get expensive!

I don't like the UNKNOWN stage we are in now in Feysville. it wasn't mentioned at all to what exactly is happening now in relation to Rogan Josh & what will be the next stage from here!! Focusing on the open pit means IMO that we're holding back for something that we don't want you to know about!!

I have a feeling that no one wants to get going immediately with Rogan Josh even that it is ready so SP doesn't rocket WHILE KP's feasability is not ready yet & therefore no one can RAISE FUNDS on the higher price yet.

what I think management is doing is that they are delaying Rogan Josh purposely to ensure that whenever it starts to produce gold, SP will have to go much higher & that will be the best time to RAISE FUNDS FOR KP.

if SP goes higher now & Rogan Josh gets mined now then it will be done & finished before feasability study for KP is finished & therefore raising funds for KP wouldn't have taken place at the higher SP.

that could answer GAZZAT's second question!

so the perfect combination or jackpot will have to have things happending in the following order: Rogan Josh producing gold, SP goes higher, KP feasability study comes in with total amount required, SP is still high from RJ gold & we raise funds for KP at that exact time on a high SP!!!

interesting times ahead & I hope I didn't bore everyone!! I know there are still some who like to read my posts!! even if they don't like to admit it!!! LOLOL

of course that's my own opinion, DYOR & this is not an advise to buy or sell, bla bla bla ......!!

cheers,