morning all, hi blair,I didn't catch up on the Mali thing, but I...

morning all, hi blair,

I didn't catch up on the Mali thing, but I certainly will if I go to Africa later this year.

As you know I have had a bit of exposure to overseas mining ventures and I do not like what I see at all. In short I see risk almost everywhere - not only sovereign risk, this crud about low cost mines overseas really needs a close look if anyone wants to invest more than a peanut for a little punt.

I see operators who haven't got a clue how to run foreign workforces (let alone their expats). I see assets that really should be put on the liability side of the books rather than the asset side. I see private armies that are needed to secure people and assets. I see plant that probably should have been retired earlier than I was. I see massive social problems.
It goes on and on.

I am open to looking - hence forth a trip over to another country very soon and possibly Africa as well later this year.

I also see places that I think are probably good - but some of them have neighbours who I don't trust further than I can spit.
What good is developing a great project or projects if as soon as it is making money hand over fist the dirty big brute of a neighbour leans over the fence and says "hi there, what cha doing? can I help?' ------- yeh, right. And I'm going to say 'no'?

You are aware that I can't comment on specifics here - but in general I would just reiterate my humble opinion --------- stuff it - I will keep to Coolgardie and Laverton etc.

I firmly believe the dd one would have to do on any company who would be involved in another county would be a massive undertaking - one would be wanting to make a very serious investment to make it worth it. And the trouble you have to go to is ridiculous - not only long distance travel - but to very dodgy places a lot of the time ------- I am afraid I am too old for that crud.
Having drinks with mates in and around the fml's of the place and a few spies in Kal and Coolgardie etc. is a far easier way of doing things.

If the market gamblers want to punt on some way out place in Botsmaniksy where they never meet the players and haven't got a clue how the place runs - well, I say good luck to them - I am more than happy to pick up fml at around 5c and leave the others to them.

Have a great sunday

Pinto