re: Ann: Company Update - Matter Settled - Sh... I am no lawyer,...

re: Ann: Company Update - Matter Settled - Sh... I am no lawyer, so my interpretations might be somewhat faulty, but I am glad this legal matter is resolved, though as I suspected, SRR appears to have been liable for some of the debts of the previous owners (without knowing it apparently).

SRR to pay a total of $4.5 million, and will try and recover this money from the previous owners, who seem to have pulled off something of a "sting" operation on SRR, by possibly not making known all of the outstanding claims against it.

It will be interesting to know what our current JV partner, OrePort, knew of the plaintiffs claim, during the due diligence period, and what their reaction to this judgement is now, since SRR will try and recover some of the judgement monies from them.

Hope SRR can recover (from the original owners), at least some of these payments to the plaintiff, without having to take the original owners to the Namibian courts (which could take a year or two to come to judgement).

Not sure how this issue was not discovered during the due diligence of the Otjo project.

SRR have done a good job of explaining the matter, but there are some interesting questions that some shareholders might still want answered.

Anyway, it's onward and upward from here, and all about the Manganese, though I am also interested to know what the gold grades potentially could be from the Ghana project.

Gw

Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.
(Norm Franz 2001)