Had a chat with Craig on the phone to get a quick update. GMR...

Had a chat with Craig on the phone to get a quick update.

GMR are looking to divest Chile as per the presentation. Total GMR spend is about $7m on the 18moz Silver project. The funds will be used to advance the Kada and Kouri projects.

This month GMR are releasing a mineral update for Kouri which will include 650m extention at N/E end of the current 1.4moz along with Red Hill and Diabatou. The Diabatou Gold Shoot will have further extension in the months of October and November. This shoot has similarities to the M1 shoot owned by WAF ([email protected]/t)and the Zone 55 shoot owned by ROXG ([email protected]/t)


GMR will be in a great position for production when they can secure above 2Moz resource. Positive news from the mineral update will give GMR an indication to proceed with a scoping study followed by a feasibility study.


Kada due diligence will be completed in November with a mineral update to be announced in Q1 of next year if all goes well. Drilling to commence within the next few weeks. Large amounts of drilling already completed by Newmont will hopefully set GMR up for a nice Maiden resource.

In regards to management, Craig see’s the value of working in closely with Adonis which will hopefully bridge the gap and help GMR move in a positive direction. Adonis had operated in Guinea for 14 years and with his in-country and strong government and industry network, GMR expect to be able to advance Kada Rapidly.

GMR has a clear plan to advance the works at Kouri and Kada, with these 2 projects in hand GMR are in an excellent position to grow into production.

To all shareholder has faith in the process, be patient and only invest what you can afford to lose.

Promising times ahead.

Good luck to all!