RE: What happened to Morogoro ?Dear rational trader,
Aren't you stupid, here I am wasting time responding to your uninformed post while you sit in your basement suite with your ketchup stained wife beater thinking hard about your next idiotic diatribe.
Morrogorro was JV'd to Canaco resources who did a 2500 meter drill program that did not yield the drill results to continue financing the project. DLKM's Tanzanian geologist believe this is a property of merit, and may end up drilling the property after the terms of the JV expire. While I am on Canaco they also have a JV agreement on the Magembe Diamond property which wraps around the famous Williamson Pipe now owned by De Beers. Canaco although lead by Andy Smith who is a top operator has failed to adequately finance themselves and have not done effective exploration in Tanzania. The diamond property has world class potential (read the fu**ing web site!)
If you know anything about the mining business you would know that 2 grams per ton productin at $900 gold is very good business, as well, major producers shy away from alluvial production as a general rule. Newmont has no pull in Tanzania relative to DLKM. Get off your couch call the Ministry of mines and ask them who the big players are in Tanzania.... Since you likely don't have international calling on your pay as you cell phone I will tell you. Barrick has the largest land package, DLKM is number 2, Sinclair's TZ Royalty Corp is number three, Anglo is number four. Anglo has the biggest mine (Geita) Barrick no. 2.... DLKM will have the largest mine 24 months from now based on reserve not output.
You are probably the only guy on who doesn't know the answer to your last question... The Vendor is elderly, ex civil servant and not in great health. DLKM was recommended to him by several people in the public and private sector as a straight honest North American company he could trust to do a fair deal. (And before you say it, yes even straight honest companies can make mistakes!) He is getting $1mil cash, and a employment contract @ $104k for 5 years as well as a 3% nsr (thats "net smelter return" for your uninformed self) He lives in a country where $5,000 per year salary puts you in the 99th percentile (don't make me explain percentile even you should be able to handle that one!).
Before you waste our time here, do some research, bring yourself up to speed,.... oh not a bad idea before you make your next "Rational Trade"
Long and Strong, going Jet shopping soon! LOL