to start gold mining in eritrea zara zara, page-43

Indeed Pomhat..probably the reason they sold the Tusker prospect and all else in Tanzania was that that was the only thing they could sell, enough to stay afloat and rip out more directors fees until the market turns around to rip off another round of suckers with a new placement to further Zara. My guess is they could not sell Zara, so they sold what they could. Zara is probably a good prospect but incredibly remote, no roads, no water at all (see the lack of announcements re the water surveys they undertook, no local infrastructure and a Government that ripped all the income off SBS that they made by selling the Asmara prospect to Sunridge. Given that SBS spent more than their profit from that transaction on initial exploration (therefore tax loss), they should have paid no tax. Instead they got a $5 mill tax bill that sent the company broke, and lost all control of Asmara. So on top of everything Eritrea is not at all supportive of exploration with respect to tax structure.