crystal ball gazing

With regards to the Erongo EPL, here is what I think may happen.

Firstly, the company will probably agree to pay the fine for the breach when they explored for Uranium without a proper permit back in March 2005.

Here is what the Namibian Mining Act 1992 has to say when you don't play by the rules:

"(6) (a) The holder of an exclusive prospecting licence who has contravened or failed to comply with the provisions of subsection (1)(c), (3) or (5) shall be guilty of an offence and on conviction liable to a fine not exceeding R20 000 or to imprisonment for a period not exceeding two years or to both such fine and such imprisonment."

If you're a non believer, check it out for yourself on http://www.mme.gov.na/mines/acts/act_minerals_X.html

Secondly, because the EPL is still on a "pending" status (i.e. it has never been granted), I think there is a good chance the company will re-submit a new application that includes "nuclear fuels minerals" in the mineral groups to be explored.

The Act requires in the application a detailed exploration schedule and planned expediture over the duration of the licence. With the three new wisemen now running the show, I think the company is now serious about doing real exploration works on its valuable tenements in Namibia.

If you looked at past Reefton financials, f--k all were spent on exploration works. The stocks were just a vehicle to fleece unsuspecting fools.

I think time is changing, but that's just my thought.