jimzim's post off iii30 Jun 2012 13:39
This will be a short report - will try and flesh out tomorrow but just home and starving.
Well - the meeting lasted 5 minutes. DS and the Secretary were the only once present of the Board. DS read through the resolutions, gave the proxy votes which were for/against (all passed with 90+%), and that was it. I was the only PI there. There was a Nomad rep, who said nothing. As you already know, all resolutions were passed.
I had a good talk with DS informally after the event, which is really all there is to report on.
Why none of the new Directors present? Well, they don't speak any English and are not really engaged with NRRP yet - too busy with getting their $2 billion show at Rossing on the road. However, Martin French and Luke Bryant are in Namibia and have just had a face-to-face meeting with Taurus trying to get them interested in what we are doing. Communications with Taurus have been hard - all mostly on the phone, and via interpreters, so no real flow, dialogue to things.
My impression is that we cannot expect anything from Taurus for a while and this was reinforced by DS emphasising that our sole focus for now is Namib with next stage being to get the scoping study finished. This will enable us to know what we can hope to extract from the mine and how much it is likely to cost us. Conserving our cash and progressing with Namib seems to be the story - low key for sure but perhaps realistic given Taurus are not rushing forward and the market isn't right for raising cash.
Something for you to be thinking over - generally disappointing as this has been, and will continue to be, a long haul. DS is approachable and seemed to be giving it straight even though he was aware that it wasn't really what I had hope to see and hear.
Will fill in with more detail from my notes tomorrow. Any questions, I will try and address.
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