dgo into tanzania, page-9

Astonwang,

To be honest I don't really hold the BOD that culpable for where we are. They went in to the HW-3 drill with an ok cash balance, they also had the carry so went into the drill fairly well supported.

What they didn't allow for was pretty much everything going wrong with the well.

Most companies will provide for some contingency, but cost overruns of around 3 times the initial budget would not be allowed for in cash resources by many companies.

I do think they have jumped too early on a takeover approach, and I certainly think that both of JKA's big guys getting big jobs with the new company was a telling factor for recommending the takeover.

There are obviously plenty of ways to fund the company, and they seem to be jumping to the weakest (but easiest) decision with this takeover approach.