Ann: Successful $27M Placement for Okvau Development Activities, page-32

Here is the thing unlucky_bacs, you don't want to be unlucky, so I wouldn't be selling at these prices.

However !!!

Cambodia is volatile, and the recent election returned the (virtual) dictator. He supports mining, and wants the tax and income from mining. He has outlawed the opposition, so it's not an ideal democracy - everyone can clearly see the one principle risk of investing in EMR - sovereign risk.

The directors have a lot of skin in this game, and it's not been given to them cheaply as performance bonuses and other incentives (like most mining companies do).

Most of the directors have actually put their hands in their pockets, and paid out cash. It tells me they actually believe in the project, and think they can become the first large mining house in Cambodia.

The gold is there - no doubt.

We need political stability. We need a prospective sovereign risk, that is not too great.

Given what we know at the moment (as retail shareholders), and with fingers crossed, my opinion is that they can build the mine, and we will see 100k/oz pa.

If you have the patience, wait a year, and the stock price might be at 5 cents or slightly more, not a great rise, but a turning point.

I am taking up my capital raising allotment.

IMHO, at 3 cents, it's a (very) speculative buy.

Gw