The Announcement ends by saying "With our financial position...

The Announcement ends by saying

"With our financial position strengthened considerably and the review of our mining practices and water management strategy now well advanced, we are moving towards unlocking the true value of Talang Santo.”

At current prices this company is a steal.

On the downside there is a water problem.

On the plus side it has good grades of gold and other propects nearby. It has equipment, roads and infrastructure in place. It is now funded for another year, the water problem is being tackled logically and the new shaft is under way.

In November the shaft should reach the 5 Level and about 7 months from now the pump station will have been set up with sufficient pumps to handle what appears to be  a known volume of water.

If  the pump station solves the problem the shares will fly.  If it doesn't, mining will continue at a slower rate until one of the nearby prospects is developed.  No doubt the company is working on that too.

And do not overlook the fact that those major shareholders who have lent money to the company in the past are now converting their loans to equity at current prices.  That seems to be a vote of confidence by those who are close to the action.