My thoughts:1. They will mine East Mandilla but it is going to...

My thoughts:

1. They will mine East Mandilla but it is going to be more difficult than West Mandilla. Will need to find third parties for both mining and processing. Processing would be best thru RMS but I do not know how freindly the neighbours are. Will not happen quickly. Probably generate between $10-$20 million. I would like to see them drilling a few more holes cos I reckon there is something significant in the area, just hope it is on the AAR patch and not RMS. P.S. RMS not a bad buy at less than $1.

2. Koongie Park will not be easy. Not the best project to mine and if it was 'sizzling' it would be a couple of forgotten holes by now not 8 years old. Will need to find third parties for both mining and processing. Unless a few more mining companies go belly up finding staff and resources in that part of the world will be difficult for the near future. If East Mandilla has happened the $15-$25 million in the bank is not going to go far so need to raise funds and banks are not very gererous at the moment and a dilution at a couple of cents per share would hurt current holders. Probably a JV and I would suggest TRY is a likely candidate. Overall, will not generate massive profits however, would provide a significant wad of cash for other opportunities.

3. Best hope is they find something huge in Victoria Downs.

4. So overall, I would commit heavily to exploration in Victoria Downs funded by concurrent mining and further exploration of Mandilla. If this doesn't pay off then commit to Koongie Park via a JV. But I don't know how Peter K is going to do this on his own so some of the cash in the bank definately needs to go towards hiring a few more geologists. At least geologists tend to find stuff and generate reports.