So we hit book value? What's next? Never fear,
Handeni (100%-owned) – Tanzania
? 300 holes reported to date at Magambazi
? Large scale, district play
? High-grade, open-pit potential; likely to have relatively low capex and low
operating costs
2012 work flow,
Complete delineation drilling of Magambazi
? will include up to 400 holes totalling 110,000 metres (Checked!)
• Drill priority exploration targets at Kwadijava, Majiri,
? one rig at Magambazi North Extension and one on Kuta
? on completion of delineation drilling one rig will move to Kwadijava and
two to Majiri
• Complete environmental certification and initiate permitting process
• Complete initial resource estimate at Magambazi – end of Q1 (Coming in a few days to a couple of weeks)
• Complete comprehensive metallurgical test work program – end of Q1
• Complete Magambazi PEA – end of Q3
In 2013 we rock a Feasibility Study + commence of financing (this is where good chunks of change are going to swap hands) and end of Q3 2014 = Construction into pre-production
How can you go wrong with 100 Million Cash in bank? Even if they blow 34 million this year, they will be getting financing by Q3 2013 to follow through into 2014 for construction of facilities... an easy 5x trippler in less then 4 years.
Current SH price
.86 is undervalued by 3x by current phases.