Thanks Raj and Blythefan, its good to get your input, particularly when there is little news flow coming from the company.
Regarding the testing of the samples, initial testing last year was done in Namibia and that turned out to be a disaster (you may recall the re-test work carried out in Australia), since then everything seems to be shipped to Australia for testing. It seems crazy as there must be some decent test laboratories in South Africa/Botswana/Namibia.
I’m sure the testing will be cheaper in South Africa/Botswana/Namibia and even if its not cheaper the relative cost must be lower as the delays in having it tested in Australia must cause time delays and this results in capital raising at lower prices effectively pushing up the cost of the test results.
Raj, I hope Kihabe will be a major driver in the share price or else we need to examine the current management’s ability to lead the company going forward. They spent a lot of our (shareholders) money (over $ 10 million) on the diamond project and then simply halted it! If they continue to spend further sums on Kihabe and it’s not a winner for the company (and the true test of its success must be reflected in the share price), then this is a second dead loss, one in which the management has again plowed all its time, resources and our money over the years.
I’ve got to give the management the credit of knowing what they are doing and that they have a plan that will unlock the value of the company, hopefully this involves:
Using Kihabe as a banker to bump up the share price to fund the diamond project at a decent share price.
Both projects must be winners for this theory to work and the assumption must be that Kihabe will be quicker than the diamond project to bring to fruition and to impact on the share price.
Time will tell.....................
Xray, from my side I’m not buying any more shares for the moment, I have enough in this company (although not listed in the top 20 shareholders, judging by the numbers on the list I'm high on the list, presumably in the nominee holdings of the bigger shareholders), no more shares for me at this stage, unless the four of us take over the management of the company!
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