Thank you Happy Chappy & others for your invitation to continue posting.
May I say it was never about tolerating criticism or posters with a particular agenda to achieve a objective beneficial to themselves.
It was that I felt that I had posted over the years about all I could to enlighten fellow investors on what Bassari had to offer.
It has been very difficult times , slow going with very little to no money at times,with the only option open to management was to raise funds from people who believed in the company , do whatever they could with the funds to keep solvent.
Without the help of many believers who stumped up the money over the years IMO without doubt we would not be having this post now. It is to the credit of Alex's ability we are here today. Many thanks to those who dug deep.
Sure there has been dilution but the alternative is a no brainier.
Progress in Senegal takes considerable longer than most people here in Australia comprehend. It has been frustrating for everyone concerned. Very expensive to Bassari with administration each month with offices in Australia & Senegal . Maintaining camp compounds (2) Machinery ,plus a functional workforce in Senegal .
I have witnessed first hand knowledge on how loyal ,appreciate all these employees are, committed to the company & belief without doubt that Bassari will survive. They have over the past years survived on reduced wages to ensure that Bassari survived. As much as 1/4 of their original sign on .True facts as I spoke to them all & when departing from the Douta compound everyone of them wish myself save journey & prayed in three languages ( French/English/Waldorf)
As I have always had confidence in Bassari future I have also been buoyed by the following ,
1. Chairman Alex . Very large shareholding, plus family, no other directorships, extensive knowledge of the local industry, experience, previous experience at Sabadola gold mine establishment & commissioning, extremely good relationship with government & ministers.
2. Largest shareholder Ten Luxton recently bought in at a costs of approximately $2.5 million shareholding 165 million shares . Very successful IMO businessman who in previous position was General Manager of the ANZ Banking Likely costs of Share approximately 2cents
3. BCM 2nd largest shareholder. International mining company with exceptional credentials & experience.
For those who are new to BSR here is some more pics which I hope may assist in getting a wider picture.
Please read my previous post & that of Interested Onlooker which I hope will give you a balanced view.
The landscape is Makabingui
Visable gold is from what I saw on site at Konkoutu Hill some 200m down.
Production Plant & storage dam , generator at plant site
Kilm room situated in secure area of production site.
There is much more I could pass on about Senegal . Maybe at a later post.
Very interesting country with much to offer.
Very underdeveloped.
Very unexplored.
Much has been posted & said about the prospects of Bassari in the past but I feel strongly that the deeds of management together with drill results will drive the company in the future.
Cheers. Nev
BSR Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held