preliminary results

watso almost missed this , as the results came out yesterday. nothing really new in the report as far as operations are concerned, as these would have been covered in the quaterlies. mention was made about evaluating $20m dollar facility - which hopefully will carry the company through the comissioning phase of syama. the notes to the accounts point out that the accounts payable (balance sheet item) and estimated outlays in mali (ie syama), exceed the cash available (obviously why the company is looking a a $20m facility - which has been offered (but on what terms???)

having a quick look at the financials, watso noted an item called "interest tax expense" of about $10m - which would suggest that somewhere along the line, the company is making a profit. looking through the notes to the accounts, it seems that tanzania is doing well - and that is probably where the income tax expense is attributable

notice that the stock is firming on very light turnover, with a lot of bot activity (a lot of sub 5 trades)