Nah that's factually incorrect, he never said he's done nothing, his words were, "we'll be focusing more of our efforts on it, we haven't done much on on it in the last 12 months". He has, however, spent the last 5 or 6 weeks almost entirely on it (whilst back in Australia). I've spoken to him about Mulgabbi. He's tight-lipped, so I have no market sensitive info (obviously), but he confirmed that he's been "spending lots of time on it recently.
The majority of the last 12 months were spent setting up Brazil, eg. creating a strong network and team, getting to know Brazils tenement application and approval system (failed with Jamie, noted), and evaluating hundreds of projects. The Brazilian crew has become quite self-sufficient without AP needing to tend to everything. He did, however, mention that setting it all up wasn't an overnight job but took almost 12 months.
From the Barry Fitz chat.
AP has in 12 months: Purchased a DD rig (rebuilt it). set up an in-house Brazilian drill team (the expensive Aussie team must be gone), confirmed we have a "great Brazilian driller."
We have a Brazilian field team (soil sampling).
This whole drill team and field crew are run by our Brazilian "General manager Sergio Cardoso."
This is not a one man show anymore and our costs are well maintained too. Having a fully equipped Brazilian team and leader now gives AP the opportunity to focus on Mulgabbie.
I'm personally awaiting a gold update re a 50/50 deal mentioned in the quarterly, understanding we need to follow a strict process to get a deal done with the right party and have it written up properly, this process and road to production will be 18months (guessing).
TCB, I'm hoping we can put our checkered past behind us? we've definitely butted heads a few times, mainly in regard to AP's intent. OZM, like lots of expkorers, might end up in the grave yard. There's no certainty I'veseen it happen to over 50% of them, but I do think AP is giving it his best shot, which all I can ask.
Will we miss this gold boom, or will it continue?
Will we hit in Brazil or will we flop?
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