I was at Mines and Money today, so was speaking to KNL who were...

I was at Mines and Money today, so was speaking to KNL who were present. I was aware the news was bad, but didnt get to see the carnage on the price until later on.

There was an initial plan to drill 6 Kasita, 5 Mahenge and 6 Merelani-Arusha holes. Keep in mind this total is now 21 due to the expansion of the RC drilling program. Many announcements on 24 July, 8 Aug, 15 Aug and 22 Aug refer positively to the prospects in Mahenge and Merelani-Arusha.

Things I found out today:
- Kasita was drilled first only due to it being easier to get to. Progress continued in a north easterly direction from Ndolodo West to Central and on to Ndololo East. Words were used that made Central and East sound like the real promising prospects.
- The geology of the graphite heads through a valley from West to Central and "folds" around to East, making that section appear the most prospective, especially Ndololo East.
- Despite the assay results, flake size has always been really good, across all prospects, even at Kasita.

Questions I would like to ask tomorrow, when I attempt to speak with Andrew Spinks.
- What real chances are that RC drilling affected the grade at Kasita/Ndololo West, given the apparently good inspections?
- Where are the inspection results for holes 17 and 18?
- Ndololo West initially was reported on 15th August to have encouraging results.

Personally I dont think that Kasita ever returned really inspiring results and all of the holes and samples collected that were reported to be good grades, etc, were from other Mahenge and Merelani-Arusha prospects. I am at a loss to explain Ndololo West though, as some of those holes sounded really good.

I do think though that after 4M shares traded today, there was some really smart money that has got exposure now to Ndololo Central and East at a bargain basement price. There is no way that pre announcement there was 4M buy orders stacked.

If anyone has any questions that they would like asked tomorrow, let me know. Please refrain from asking me to ask the wrong types of questions.

FYI - I copped it today, in a way that words escape me to describe. Except to quote Shawshank: "This is no fairy tale world".. so if you know the movie..