Yin, I worry about the optimism over this project, mainly because I was sucked in and was taken by the false, cleverly worded bate thrown out by Forester. Please check the power issue before you do anything else. From my understanding, there is simply no power in the area, it is so remote that alternative power is no more than a dream. Test my theory, try and pin Forester down, he will try and squirm his way out of this, but try in any case, ask him very directly if he can assure you that he will be able to secure power and I am pretty sure that he won't be able to look you in the eye and he won't commit to this (check his wording in any reply, it will be phrased in such a way that you will never come back to him on it and hold him to it), as power in the area is not feasible and without power, there is no project, they can't get a feasibility study signed off until they have power and this is the issue (in addition to the fact that the resource is so marginal, as the grades a extremely low, even with power it is unlikely that the project would work), so what do they do, well, they do what they have done for a long time, raise expectations, raising funds at the same time and channel the funds into admin. There are only 2 full time employees, Forester and his wife. Look at the last quarterly, 16% of the capital raised was used to advance the project, the rest was 'admin' and debt which was probably incurred to fund past admin costs.In fact the spend on the project is so low that they have failed to meet the minimum spend required by the Botswana government, year after year.
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