is it verus fault

In the past, I have been extremely critical of our management regarding the Fausse Point project.

After perusing the latest GGP report, I now realise that all along, the delays were caused by Golden Gate because after the first drill they lost interest in the project. However, GGP continued to blame Verus for the delays.

Eventually, GGP came clean by stating "the election to not develop the earlier Fausse Point project". Perhaps, our management will have to clarify the position GGP will take with this project, whether to retain their 18% holding etc.

A lot of our funds have been spent by our management obtaining more accurate data about Fausse Point, and I suppose our management are of the opinion that this project still has a lot of potential, the reason for the rights issue.

In my opinion, before I consider taking up the rights issue, our management should provide the following details, and most probably they will in the very near future to encourage subscription to the rights issue:

a) Will the R/I funds raised be sufficient to complete the FP drilling, b)is a farm-out still required, c)how soon will the drilling of FP commence, d)who is the new operator, e)what new investments.

This is only my opinion.