Southstone Minerals Ltd V.SML

AGM

[Pacmann]

any info on today's AGM

[hempster]

Yes, I listened to the AGM. Was kinda like pretty much any AGM and lasted only like 15 minutes. Eventually the only things that happened were the voting for the directors and Kwena disposition. No additional information or whatsoever, though there was the possibility to ask questions. All in all we only were like 10 people on the call, of which half belonged to the management.

[Pacmann]

bit disappointed. We kinda new kwena disposition was going to happen. I thought maybe other things would be discussed such as where the company is headed... At least update on current and near future projects such as Liberia mining... Its been long overdue on updates

[hempster]

I had the same hopes, but unfortunately it was really just formal stuff. I think after the disposition is completed, we might get a more significant update. The Liberia project is one of my biggest hopes for the company, and I do hope they did not have their mining license amended to also include gold just for fun. Would love to see a combined gold/diamond mine. Let's just hope it does not end

[Pacmann]

yeah i'm hoping something big from liberia project as well and if this project was no go like the other projects we probably would have heard it by now..nevertheless hope to get some news about liberia on our next project updates which is overdue

[hempster]

I don't want to kill your hopes, but I fear you might be overestimating the progress of the Liberia project. As far as I know, until now they only have aquired a mining license, and currently might be developing an exploration programm - e.g. mapping, sampling, geophysical surveys etc. Still a long way to go until they might set up their first trial operations, and even then it is not clear

[JSMichau]

hempster, this is from the Q3 Operational Update in june 17 2019. "Tango is devising an exploration plan to be launched in the 1st quarter of 2020".  We can expect some delay because of Covid, but my understanding is that since we are in Q2 2020, the plan is made and they are ready to start the exploration, or they are close to do so.  The selling of Kwena could even help

[hempster]

I was aware of this, but did not think that they made any progress on this front, since we recieved more updates on the previous projects when they were still in the planning phase. But you may be right, maybe the plan is already or almost ready and waiting for execution, lots of other junior miners used the past few months for data analysis etc, so we really might see more activity in the second

[Pacmann]

sp is slowly ticking up of late.. Ask is lot higher than bid price today and with a bit of higher volume.. Maybe finally something good is happening.. I really wish they NR on operational project update real soon.. Does anyone know when we should get the next NR for the projects?

[hempster]

They did have a 3-month rythm for their operational updates. The last one was due in March, but it seems they skipped this one bc of the lockdown in South Africa at that time. So if they stick to this schedule, the next update should come next month.

[Budlight1971]

Nice increase, I hope that we will have news of the sale of Kwena, because even if I do not mind, many investors do not buy company action with dirty energy.