where did our $6 million dollar project go ??

Where did our very promising $ 6 million dollar Ondundu Gold Project go ????

Chairmans Address to shareholders 28.05.1999
Welcome to the 28th Annual General meeting of Southern Cross Expl N.L

Here we are, twelve months later- to the exact date and unfortunately we can not inform you of any real progress on the companies promising gold mining project in Namibia which was acquired in 1997.

There are still problems involving environmental impact studies,feasibility studies and such like, the lower gold price did not give us any great encouragement, nor the knowledge that capital is easily raised, particularly for junior explorers with projects in far away countries !!!

Recently our joint venture partner in Johannesburg made a preliminary enquiry as to whether Southern Cross would be interested in joint venturing or selling the Ondundu Gold Project to a new company about to be floated in South Africa. In view of the perceived difficulties in getting this project off the ground, we said yes we could be interested depending of course on price and terms!!

The proposed listing of the company on the Namibian Stock Exchange has been deferred .

Activities report 29.10.1999
Namibia - Ondundu Project

The company is reviewing the current situation with the Licence holder. Joint venture partners are being sought . There is no progress in respect of environmental and other studies to bring the deposit to development.

Southern Cross has a 75% interest in the project through the Namibian subsidiary which is the holder of the Mineral Licence.

Was that controlled entity Keadeber Resources (pty) ltd ?????

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