Ann: Quarterly Activities Report, page-31

Hi Guys,

This is probably the first time I have ever posted on this forum.
I have been a holder since 2013......from around 10c....and I thought was a bargain considering it was first floated at 20c. Saw the share price go down to .001c, supported all the cap raise and also averaged down at market. With the project at Krygyz Republic and finally offloading it to the Chinese and then trying to get into this Tanzanian deal....it looked quite promising. The market cap only reflects the cash on hand and nothing to the Tanzanian project. But after a lot of careful assumption I decided to bail out this week.(Have only kept a token amount of shares)
The Tanzanian deal is extremely complex as per the management and on top with the recent development in Tanzania towards mining, I think the deal will only get more complex ( if they ever close the deal)
I have some Graphite play in Tanzania who hold licences and progressively exploring, yet they all are suffering with this change in mining laws. MSR doesn't even have a licence so far.

The only cushion is the cash on hand, but these companies can burn those cash very quickly before they are again in the market to raise more cash. I also took comfort from RSG's involvement, but what is 2-3 million dollars for RSG.......close to nothing and they can wait for another 5 years if they have to.
The management can just sit at their comfortable Perth Office and make their wages.
With the backing of PRU & RSG, I think they will be able to close the deal but when that will happen is a very big question. The answer of this question is worth more than the market cap, as it will certainly double.
I just ran out of patience with this one....on top with the resurgence of the new gold bull....there are some dogs and horses ready to run.
By the way, my timing is very very bad......more than often just when I get tired and bail out.....soon after the stock starts to run. That could be the case here. So all the best to the holders. If that happens, I won't complain as I eventually got my capital back after years of averaging down(very dangerous strategy, very reluctantly I had subscribed for the .001 cap raise as there was no point in selling at that price), but sure it did hurt with the holding opportunity cost and I just couldn't let that happen anymore. With a very small holding now, hopefully that will make me a fortune one day.