Glad to have you back on board, Yes I did talk to Ian Riley, yes the security’s extra were all sorted and submitted with bank last week, given the bank is happy with everything, which in Ian’s personal opinion he couldn’t see any reasons for them not to be, in fact he feels the bank is quite eager and upbeat to move things forward, so a contract should be given to management next week from the bank (hopefully.. timelines are hard to define in Senegal), in which it (the contract) will be groomed for about a week by our Legal team.
As per announcement lots is happening at the moment, and yes they seem to be chewing through funds on the ground, however management will be drawing down very shortly.
I asked when production will start... Ian said there will be some mining taking place in the first quarter, and production will likely start in the second quarter... (I didn’t ask him to clarify what the difference was between mining/digging and production.. I wish I had of)
I asked him how confident he was in everything going forward from here.. he is firmly confident and has no going concern moving fwd.
there was lots more he mentioned, like the assessment by contractors on our assets, there could be some minor upgrades needed to infrastructure here and there extra, which is expected.
This is the best summary and recollection of the 10-15min conversation I could share, and how I perceived and understood Ian’s communication, he comes across as sincere and conservative, and was as transparent and real as I could have asked him to be... naturally he has been disappointed with the timelines as well.
Hope this helps, please feel free to call management to clarify any concerns or thought you have, it’s your right as a shareholder to ask any questions relating to announcements put out, (if you leave your number they will get back to you).
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