Just to give you an idea of how stupid this was:
We gave up ownership of 50 percent of Credo and 25 percent of Zuleika for 170 K. This is after ZAG has already pumped 6 million into the JV over 4 years, as were terms of initial agreement.
ZAG has cash of around 3.5 mil and is getting ready to do a big drill program this year. Why sell now? Pathetic.
MD has got to go. Enough of our money has been wasted on junkets, outrageous salary, supposedly getting the house in order after all the blame dumped on Claudio and zero results for anything.
Ann: Sale of minority JV interest in Zuleika Gold Project, page-4
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