re: Ann: Mineral Resource Upgrade Delivered a... "SHAW RIVER...

re: Ann: Mineral Resource Upgrade Delivered a... "SHAW RIVER DELIVERS 17 Mt MINERAL RESOURCE (59% Increase) AT “OTJO” PROJECT"

great news, and this from only 13% of the known strike tested to date. plenty of potential upside to grow the resource and give us a long (potential) mine life.

excerpt from ann:

"The large scale and global significance of the Otjo Project makes it considerably well positioned when factoring in a number of very favourable additional characteristics, including:

o Located in Namibia, a mining friendly and low sovereign risk jurisdiction;
o Excellent proximity to existing public user road, rail and port infrastructure;
o Granted mining lease with environmental approvals in place;
o Potential for simple open pit mining due to outcropping resource tonnes;
o Processing plant consisting of crushing, screening and beneficiation equipment on site, currently on care and maintenance; and
o Considerable exploration potential with only 13% of the known strike of the mineralised horizon tested to date."

Mango, agree, what about production?

What about a game plan going forward:

1. possible offtake agreements (are they having any discussions);
2. production.

the 5th bullet point above (re processing plant already in place) is interesting, and relevant to point 2 above.

SRR once upon a time was looking to be in production in 2012, but this now seems like quite a while back.

or am i just dreaming.

SRR was a great unfolding story with Baramine, then along came Otjo, then into a lengthy suspension, and then ... well the sp crapped itself.

if they simply keep drilling into 2013 they will run out of money.

Baramine had very good drill results coming in quite regularly which lifted the sp into the 20c plus range, but it seems to be on the backburner while Otjo progresses. What are the plans for Baramine?

i for one would like to see SRR come out with a clear statement on its path and direction for us moving into 2013.

for the timebeing, yes today's announcement is great news!