"(RRR)AGM summary by Acto Some emphasis in 2011 on Copper in...

"(RRR)AGM summary by Acto

Some emphasis in 2011 on Copper in Migori (as well as gold)


Expects Colombia to be very profitable, so much so they have to be careful it doesn?t infinge AIM rulings of taking on companies bigger than yourselves, especially with the almost certainty of full exercising. The recent loans has given them 4% more options for $400000. So now instead of 51% costing $7.5, it would be $6.6. But now they could have as much as 55%.

Got the impression another mine purchase in Colombia within a year was a possibility.

Rain has meant other exploration has been delayed. Minor damage on the Manchuca road. Expect production there 1st quarter.

If all goes according to plan, full Limon production within first few days of Jan. Worst case scenario end of Jan.

As vein gets deeper, he thought the grade would be as much as 40-60g per ton.

Arthur tenemnt looks good. May turn out to be half the size of neighbouring Savage River mine, where they are running out of out of resource. Could perhaps see a jv with them.

Chinese involvement with Globe very good for RSL. Think he said he had had some Chinese interest in RSL as well. Chinese doing a lot in Malawi.

Bringing Cue and RSL closer.

Kansai very keen on their deal.

New Edison report within a month or 2.

Interim dividend very likely. "

source: http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ARRR.L&thread=7536973&it=le&action=list