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As far as i know the mine can be made profitable. The previous operators Goldplat never had the time or inclination to concentrate on it.
Isn't their mine already operating, albeit probably at a loss? It appears to be operating below optimum efficiency but I am not sure they need much in the way of new equipment to turn the mine profitable. Will be watching that one with interest.
Reverse listing
https://eastafricanminingnews.com/kenyan-gold-asset-scheduled-to-reverse-list-on-the-london-stock-exchange/
Huge re-equip required.
Can't see £4m covering it.
EZ probably steered well clear.
re: Kenya - today's soundbites
https://www.expogr.com/kenyaminexpo/detail_news.php?newsid=6189&pageid=2
" Exploration and mining firms in Kenya are undertaking exploration leading to the declaration of what is called the continent's largest gold discovery-1.3 million ounces of inferred gold along the Liranda corridor in Ikolomani, western Kenya".
Tanzania's secrets still have to be unearthed. Our knowledge of the region is scant. The greenstone belts are probably more numerous than we think. For instance -
o there are at least 23 ancient volcanoes (with one active). Four of them are close to NGLM and the bulk of the remainder lie north mainly around Kilimanjaro
o the last minor quake in the Singida district was 7 days ago. Although volcanic history is unknown it could be argued Ikungi is part of an ancient greenstone belt
o there are also 7 targets according to the new mine manager. I therefore do not go along with a statement that the new open mine is a waste of time. It will make a big contribution from 2022 onwards
o Yuri's knowhow and experience will form a big role. He is possibly focused on NLGM (and Lihranda) at this point
o starting with South Porcupine reserves far greater than now will be racked up this year
Until proven wrong I am not saying any part of Tanzania is going to replicate the Barberton greenstone granite belt (Kaapvaal craton). Deposits will likely be more modest and the locals have been digging up Au, Cu, etc for centuries. All Yuri has to do is track 'em and then get his more modern tech and tools out.
W.r.t. to Tanzania there are 120+ tribes in the country. It's possible there are 120 dialects but they mostly understand one another . . . a bit like the Xhosa and Zulu. Unlike DRC/Rwanda it's pastoral and hopefully will remain that way provided Islam stays in Zanzibar and Capo Delgado.
On the matter of that other stock I recall the colonel describing my cutting it by half as "mad". Well I can't dump the rest of it now. The loss would be quite heavy. New management should turn the ship around. When possible the plan is to quite substantially increase SHG. Have also been picking the brains if an Aussie geologist, who is filling in a few knowledge gaps on both copper and gold. Zambia is very much in the frame.