bogdan update

Hi guys,

I can't believe that we are still sitting on 2.0c!
I presume that the big seller at 2.0 was the same punter who bought 10M at 2.0 few days ago.
Give it a bit of time and he will regret it.

Anyway, I had a chat with a guy who 3 weeks ago came back from an assignment in Poland.
He is heavily involved in oil and gas industry.

Not sure if anyone knows but Poland is sitting on a massive deposit of shale gas.

The Polish Govt has awarded 86 exploration licenses to the likes of Chevron, Exxon Mobil, BP, Shell and others.

According to a recent study by the US Energy Information Administration, Poland's technically recoverable reserves of shale gas are the biggest in Europe, at an estimated 5.3 trillion cubic feet.

Anyway, I told him about our new copper project in Poland and I mentioned that we are right next door to KGHM.

He said that KGHM and this project came up in conversation about 2 months ago at one of his meetings.

He said that this tenement was a brown coal lease in the past.
The lease was there for many years and nobody bothered about it but when it expired a group of mining guys pounced on it in a similar way that Nathan McMahon?s Cazaly Resources did on Rio?s Rhodes Ridge.

The difference is that they were more successful. LOL

He believes that SSC must be the Co who has done the deal with theses guys.
I also think that it's very plausible as I doubt that there is another ex-coal tenement right next door to KGHM which someone else snapped up.

Supposedly, KGHM was caught up by a massive surprise about the situation and this is quite well known in the mining circles in Poland.

Now that we have signed the deal and shortly will start drilling, watch out for some local newspapers following our progress.

Anyway, I did some research on formation of brown coal.

Guess what?

COAL IS PLACED ON TOP OF COPPER FORMATION!!!

Meaning that copper is normally well below the coal.

Then I re-read the announcement for the nth time and guess what?

"Sultan has examined results of a single historic drill hole in the Bogdan tenement.
This hole intersected 283.4 metres of overlying Tertiary clays and brown coalbefore intersecting limestone at 289 metres. It then proceeded onto ??.blah, blah, blah ?.before terminating at 302.8 m.
The hole terminated in limestones ??that are commonly mineralized and the mineralization was NOT CLOSED at depth.

The hole intersected very encouraging base metal mineralization including 2.9m at 2.7% Pb, 81 ppm Ag and 0.16% Cu FROM 298.1 m.

THIS ONE HOLE CONFIRMED THAT THE BASE METAL MINERALIZATION EXTENDS DIRECTLY ALONG STRIKE INTO THE BOGDAN TENEMENT."

Now let?s go to page 3, second paragraph from the bottom:

"CURRENT MINING OF THE COPPER DEPOSIT OCCURS AT DEPTHS OF BETWEEN 600-1,000m"

No wonder that we have only 0.16% Cu in that one hole!

The hole was ONLY 302.8m deep and KGHM?s copper deposit occurs at 600+ meters!

If we can get the Cu grade to about 2% (similar to KGHM?s grade) and we own a tenement about 7.5% the size of KGHM, we could be sitting on a gold mine (full of Cu). LOL
And the infrastructure is all in place thanks to KGHM.

Let?s get this drilling started ASAP.
One thing that worries me a bit is whether we can get our hands on a drilling rig.

See the below article:

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article7087585.ece

There are 949 drilling rigs in the US and only 100 in Europe so with this massive shale gas drilling programme in Poland, there is a real shortage of land based drilling rigs in Europe.

Good luck guys.