Musings from the AGM The regular meeting was over in 12 minutes....

Musings from the AGM
The regular meeting was over in 12 minutes. Then a detailed presentation and some fascination discussions. These went well beyond the formal presentation.
The takeaway points were.
1. Michael Quinert is to SA over the next two weeks.
2. The removed ore is as stated and several methods for measurement are satisfactory
3. The original dirt mover (who was a bit slow) has been supplemented.
4. Determinants of profit (money flow) although there is no arguments need to be signed of before cash flow will be on a monthly basis . There is one month outstanding.
5. The first cheque of $300+k follow pt 4
6. The tonnage will quickly escalate to 14000 ton/month
7. Once cash flow starts ,further infill and historical results review expected to dramatically increase resource to 2.3mil oz from current 1.3mill allowing increase in ore sales
8. Mintails SA and other contractors making good money at current gold prices, would have to fall to $900/oz to close down due to unprofitability. Gold production reports are up some 60% from the plant with room to take double or more feed from WWI.
9. There are many other miners in the local surrounds that are keen to get some ore.
10. Some new methods are being used to overcome the tradition water problems making more ore available.
11. Then there is the possibility of further review of the company’s exploration targets surface and underground. Of special note is the Rand leases ,all proven gold reefs with previous shallow workings that could contain over 3 mill oz. THIS SHOULD NOT BE UNDERESTIMATED
12. Any deposit would be keenly sought after by local majors at say $25 /oz

Overall the company was said to be now cash flow positive and there ought to be no need for any further capital raisings. This cash flow will be judicially applied to exploration and no douby assist papua to get going.
On Papua Derewo tailings etc…..simply put there is lots of gold and the new group with BIG BIG credentials hopefully can deliver access or frankly failing that may be a thing of the past. But will be no drain of cask reserves.