spoke to bill yet again!

Hey All,

after reading that report I was somewhat miffed, so I had to give Bill a call again! (geez he must think I have nothing better to do lol) But I though it would be good to seek clarification on this so called report...



From the source:In my own words, "sbl will struggle to archive its production targets... and its unclear whether cash flow from operations will support further expansion plans".

Since reading, I have spoken to Bill some minutes ago and he is well aware of this and had spoken to the analyst's responsible, Bill was frustrated as he believe's the report for most of it was wrong! As he pointed out to me "we have all ready archive throughput over 1000 tpd, they and I say they put a big question mark to whether this could be archive during ramp up"


Further C/R for expansion plans, Bills answer once again was " We will be conducting feasibility study to commence later in the year and we can't put a price to this til we complete the feasibility study and then and only then we will look at ways fund the expansion and will put forth to the board, but there is C/R on the horizon"

Finally Bill stated " I have always said we are an explorer and we aim fund further exploration by gold sales, and if revenues are not what we estimated it means we just spend a little less on exploration"

We talked about ounces produced to date and ramp up of now a 1000+ tpd Bill and why no costs " to archive above forecast 1000 tpd in August is beyond our expectations they guys over there are doing a great Job, I do not want to pressure the guys too much just to satisfy the market, numbers and costs will come in time. We are still using tailings so if we put out figures/ costs it will not give a exact cost. When we start to blend high head grade then we will get a better understanding of the costs"

Hope this helps....