re: Ann: WWI to sell part of its South Africa... fakeshark, I...

re: Ann: WWI to sell part of its South Africa... fakeshark, I like it but when I first saw Mintails was involved I thought here we go again. Mintails were supposed to buy this in 2010 but couldnt raise the funds but now that I have read the MLI announcement which details their side of the deal in more detail, I like it. I am just wondering about the final $3 Million though and how all that works. I will have to email West Wits for clarification on that part.
Overall I like the deal. They still have assets in SA probably worth around $10 Million as well and I think the idea is they will eventually sell this as well to fund Derewo in the years down the track.
Derewo could be big IMO. When talking to West Wits they seem excited about its prospects. Also they need to have produced 20,000 ounces by July 2013 for the 46,000 odd options to be exercised so plenty of incentive to get that first 20,000 ounces away, especially if the share price heads towards 20 cents and above in the coming months.
Sure, I know some will say the board has too many options but hey you dont get something for nothing these days. Derewo is their idea to buy and if this baby works out we could be looking at 20 Million ounces of gold resource so IMO they deserve their options.
I dare say the quarterly will announce the Forestry approval. I think the deal to sell SA assets has probably taken them away from Derewo for the moment in relation to updating the market. Now looking very much forward to the Quarterly. Production is scheduled for April this year from memory. Go WWI and MNM. My two stock picks for 2012.