mining, page-3

made a call today and asked if there were any positive developments at derewo, and was told after a pause no, the illegals have been getting a bit restless and the authorities have to figure out what to do next, probably repatriate the rest of the illegals so the site is safe to mine.
asked about progress regarding Soweto leases, and was told they have had meetings with the DMR and are confident all will be sorted in our favour in the near future.
also chatted again about exploration and whether we had spent the 2 million dollars that triggers a rise from 50% to 80% ownership in the exploration leases and was told we have and then asked if we would be doing more exploration since cashflow from the alluvial is not materializing as expected, and was told there will be an announcement shortly, the company has a report from dr tunks regarding the next steps, also interesting to note that the major shareholders were asking why we are not doing more exploration given the amount of money on hand and the effect on the share price if results are positive.
also asked about DRD's role now they are our biggest shareholder and was informed of their involvement in a mine in png which they sold around the end of 2007 to look at opportunities in Indonesia, so they are happy to be on board.
finally, asked about the clean and clear list for the forestry permit and told nothing new to report there, so it seems that exploration may be the driver of our share price while the alluvial circuit gets sorted out hopefully.

hope this helps,
regards timmo