assay results are all that matters..., page-45

Hi Volcano,

Look I still hold this stock, so lets not forget that when I say the following. I can't agree with Sheik more, if you are not feeling comfortable holding anymore, cut your losses like Novac and get out. There is no bad decision to sell if a stock doesnt feel right anymore.

My trust is kate has been lowered, since I have had two conversations, one in which you copy pasted and the second last week. But I did not repeat last weeks conversation, purely because I didn't believe her time line of 'a couple of days for the prospectus' was going to be met, so no point sharing knowledge that could make it look like im just stating things for the sake of it.

Once again its Tuesday 5 days (bit more than a couple) and here we are as I thought, still awaiting the prospectus, underwriting details etc.

Can we trust kate to deliver when she says? I will say no in my opinion. Is this a reason to sell? That is entirely up to you and what you base your investment decisions upon.

Some people only base their decision on management, in this case if that was your criteria you shouldve already been out. I have stated it before and will state it again, I believe in the asset fundamentals of this company the only risk I see is management. If we see some encouraging results from the magnanese assay and grant ridges uranium drilling, maybe the assets will themselves propel the company ahead without the need of much management from good ol kate.

I do feel for Kate in regards to being a small tier exploration company, so her power to negotiate with the assay lab for instance is limited. But I don't feel any sympathy, since she is not enforcing timelines and communicating to the market so that we can price URA. For instance if 30 days ago, she released to the market some information regarding having issues with the assay results and that she has give them until the 30th May until she removes the testing from their lab and sends it to South Africa. Then states that this will take a further 30 days from when its received and that she has built into the contract that it will be delivered by them by the 3rd July. The market would react negatively obviously due to the delay, some people will get out but some people will feel comfortable staying in knowing that they have a MD in charge, that communicates and can make decisions.

But we dont have that..