RE: Future OutlookI think this company is well worth a look considering they are exploring in under-developed West Africa with a management team that is experienced in African Exploration. Keep is in mind this has a small market cap of 7.4 million & 148 million outstanding shares.
They are diversified and hold minority ownership of Stellar Diamonds (5.5%) and Golden Share Mining (6.2%). Also they own 4.5 million shares of Swala Resources which is developing the Arae-Gassel project in Burkina Faso.
The Bakoudou-Magnima Gold Project in Gabon is what everyone is now keeping their eyes on. RSG is working with an experienced mining company Managem, which currently has operating mines. RSG have outlined targets for the mine which already has existing access in place:
- December 2010 : Commencement of Zone A pre-stripping,
- January 2011 : Arrival on site of primary crusher,
- February 2011 : Arrival on site of Falcon concentrators, grizzlys and cyclones,
- March 2011 : Commencement of equipment erection and treatment plant construction,
- April 2011 : Arrival on site of main ball mill and completion of tailings pond,
- June 2011 : Plant commissioning,
- July 2011 : Official Bakoudou Zone A mine start-up.
The projected open pit mine will have a life of 3.5 years and is expected to produce approximately 42,000 ounces of gold per year.
Disclosure, I do own a small stake in my portfolio after doing my research. GL to all RSG longs, 2011 should be prosperous with some patience.