going to ground

Morning All,

I must say that I find it all a bit peculiar that no announcements have been made by the company this month so far. I was advised more than a week ago that an announcement would be made shortly however that has not transpired as yet. I expected that at the very least a placating announcement regarding the ongoing development at Perkoa and / or drilling update at Mumbwa would be coming through however we've not seen anything as yet. This leads me to two conclusions being:

1) Offtakes are nearing completion and BC is waiting until these are signed so as to be able to make an announcement of substance - or there is something of substance on the cards and BC is just waiting until he has something tangible to bring to the market (which would be odd as volumes would have picked up by now given that AIM is a leaky ship when it comes to information flow to the market as shown by trading action on 19/5); or
2) Everything has turned to S^!t and the management are praying that things will work themselves out.

Anyway, at this price there's little point in selling stock in my opinion - having said that unless we have financing in place and offtakes all we will have is a nice hole in the ground. This is rapidly becoming a 2009 / 2010 story. Into the bottom drawer these go.

PS: The AGM this year is going to be very nasty I think.