Summary:1. KAB have a drill rig but never drilled2. KAB have a...

Summary:
1. KAB have a drill rig but never drilled
2. KAB have a lab but never used it.
3. Have >55% Mn at Chowa but favour <40% Mn at Peco.
4. Noble are NOT shareholders.
5. We are transporting via Tanzania NOT Durban
6. We should use lumpy or prices NOT fine ore.
7. We have offtake with Sino but no shipment made since May 2012.
8. Noble revised warrants down from 2c to 1.2c
9. $1mil Celtic not converts in May 2013.
10. $1.5mil OKAP loan was due in Dec 2012. Presumeably extended for 12months. Money used for?
11. License has been delayed several times but is hopefully on schedule for Jan 31.
12. Chowa pit is not 2km long
13. Peco is next to a swamp
14. Our leases are mined illegal by natives.

Probably a few other points about rainy season, or the hard surface and technical issues. Or the 2000t blasted but only 510t shipped.

We can post about the negatives in another post.

Price target of 1.5c seems reasonable but only based on what happened on the 17th Jan. It could/should be repeated on actual confirmation of licenses.

2c IN Feb could be a challenge. Their will be a quiet patch where we have ordered the plant and are waiting the 90days. But who knows. It will be daytrader driven.

Personally I doubt we'll reach 1.5c again on the 31st. VWAP on the 17th was below 1.2c and not much volume was at 1.5c. It was a very shortlived spike although amazing volume. Some would have got burnt and wont try again.

Also the current trading is strange. Volumes above average. And sp holding up well. But the 0.9c and 1c line keep getting refilled. It's definately not accumulation. Feels like the day traders/ST traders that paid 1c-1.5c last week are trying to sell in an orderly way to minimize their losses.