RE: Posted by Bpultra on the KGN boardOnce again I feel like I have to jump into the fray here.
There is obviously a lot of frustration with the pace of events with AGG and frankly I share it, especially the lack of a continuous news flow that was publicly promised us. The problem though is that the frustration level is leading to erroneous and mistaken statements.
AGG has not been directly drilling in Ghana in recent years. AGG is not burning cash "punching holes in the sand" in Ghana. Newmont may be as part of their JV with AGG but AGG is not directly drilling in Ghana.
AGG's entire focus has been Mali/Kobada for the last three years and when you have limited resources and have been through the financial wringer like many juniors during the meltdown you need to focus where your resources are being spent. I've stated this several times now in the past but say it again. Kobada is a known resource that is probably a minimum 2 - 3 mm oz deposit and possibly 5 mm oz plus. The market hasn't woken up to this fact yet but at some point in time they will. If I was running AGG Kobada is where I'd be drilling too.
What's really frustrating is guys like you and Bpultra (that have been around AGG a long time) and the markets in general don't really seem to understand the basics of the story which are:
- Kobada Zone 1 is probably a 1.5 mm oz resource and open
- AGG just announced a new discovery area of mineralization 4.3 km away (the market yawns)
- there is still a lot of blue sky with other potential zones of mineralization in Kobada
- AGG can liberate the gold with gravity separation which means this will be cheap as chips to mine from both a capital and operating cost perspective
- AGG should be trading well north of a $1 based on what they currently have
It's not outside the realms of possibility that Kobada could be a more valuable holding than Keegan's Esaase.
FWIW I do agree that AGG's properties in Ghana should probably have some resources spent on them but Kobada has to be the primary focus. I think the other area AGG needs to focus on is IR and PR to get their story out to a wider audience.