announcement will be out next week, page-27

OK, I'm not the first or the last to be critical of management in terms of shareholder relations and risk management and I'm no super gold bug but ... I was just reading up on best sub-zero temperatures for snap freezing pelagics and thought I'd cruise some old reports to remind myself why I bought into SBL at what seem now to be such high prices before the CR snuck in under the radar and the poor old Nihon-jin got hit by the Wave.

Looking at that ol' BGF report from 2010 I'm wondering what's changed for the positive:

- More spent on CAPEX, but it'll increase production and was <1 year payback anyway
- Manganese discovery
- lots of drilling in plenty of areas that have already proven prospectivity at surface
- figures based on POG 1200 could be updated to POG 1400 without being too optimistic
- plant commissioned (perhaps with gremlins ...)

And on the flip side:

- Poor shareholder information flows
- large 6 month delay to gold pour
- extra CR no-one expected
- SP
- US economy
- EU debt woes
- Middle east tension
- More damn Shares on issue.

If you shake out this blip though - even if there's problems with the pour - on balance I'm still bullish. There's too much potential.

News flow could be:

- enhanced capacity at mil to xx'000 oz/pa
- first gold pour
- expansion and better picture of manganese from somewhere between 15-54m tns
- cashflow positive in 2011 q3 (?)
- resources upgrades to 2m-2.5m oz by q4

Or none of the above.

One other thing though ... those 'open at depth' shoots at Obenemase. While they could just be dead earth and fish bones, they do temp with their likeness to Zia's Ashanti flyover clip from youtube! And that's just Obenemase ...

COLCOM