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I agree. But the question remains, what have Jubilee been doing for the past 3/4 months at a cost of �300k, if they haven't confirmed the recoveries, looked at the original construction plans and costings? Why another 40 days delay to do work which should have been already completed? Difficult to see construction completed by end of the year let alone commissioning. That, IMO is the reason for talking to the government.

In the meantime Jubilee will be holding discussions with the authorities on the timing of the project - do they want to change the conditions in the Minister's letter restoring the licence? Will the Minister agree? What if he says, 'stick to the terms'? Will that affect Jubilee's 14th June decision? Lot's of tank traps before the show get's on the road.

Have I missed something? I'll check their website, but has Jubilee announced the successful completion of their DD into Kabwe? how can LC be finalising the plant design when they haven't even signed up the JV with BMR. From the plant photos I've seen tell me there's not much more for him to design. It's done - sign the JV, put the boodle on the table and get on and complete the build.

Thanks for the update. Obviously AB hasn't nailed the investment date yet sounding a bit like the supervisor of pass the parcel.

Hi Chimey, been watching the action sporadically. Just when everything seemed to be trundling along (reasonably) OK - boom!!! the licence got pulled. Very big disaster, but somebody in BMR sorted it. Civil works look well advanced, so that tells me most of the design work's finalised. Jubillee deal was a fire sale to keep the project moving - IMO they got a very good deal on the cheap. They can't fiddle with the process design, 'cause that surely would involve ZEMA., meaning another 18 months delay. And �2 mill to complete the plant ??? And where's the promised �1mill investment? Come on AB, get this money in and get relisted. It's pathetic, the licence has been back a week now.

No licence = no company = shareholder wipeout. So who got it back? AB, errr, no. .Any of you have experience of Africa 'cause I don't believe that little exercise was a walk in the park. If it was LC, we would not have heard the end of it. That could only leaves one other person and he was driving the project - now gone. With the number of directorships CB holds, what contribution can we expect from him as he rushes from one board meeting to another.

N0pe. Probably some fat fingered broker who keyed in a wrong number and now has to balance his books.

Completely Agree. There must be an imminent deal lurking with another player in Mali - and maybe, not far off. They have now (more) cash in the Bank, so they're not a distressed seller of assets. Happy Days ahead, imo.

Halos are the manifestation of mineralised fluids circulating in the underlying geological structures that have been forced to surface by pressure resulting from tectonic movements. These fluids exit through vents, fractures and contacts in the geological structures. Simply put, they're important because they signal the potential for underlying hard rock mineralisation. DD is the only way forward to investigate this potential. Any junior exploration company worth their salt will undertake a detailed structural survey using satellite imagery, airborne and ground geophysics plus any available previous sample results and give all this to a very clever geo. to interpret the underlying structures to target DD. Sadly, in this world, many juniors will waste the equivalent cost of a structural survey on what amounts to a 'wild cat' DD hole. Yes, the average grade for the maiden resource was poor. But as I said Randgold almost walked from Loulo, until a smart geo got to grips with the structures controlling the mineralisation and decided to reorientate the DD - and suddenly Bingo. A funny old world this mining game. The Director who made the buy is not a geo, however the good news is that he has brought a mate on board who is. Sensible fellow.

DD kit is not heavy. Getting a competent outfit is the challenge, particularly when most of them will only mobilise when 20,000 metres @ approx US$150/m is on offer. So jg, a Q4 target is not unreasonable. Make no mistake, DD is vital, primarily as it enables geological structure to be defined and understood. RAB (IOM a waste of time because of contamination risks) and RC drilling only really looks at in-situ grade (great for elluvial deposits which is what I think they've been drilling up to now). Understanding the geological structures is vital as it can better focusing future exploration and drill targets. However RC drilling material is adequate to determine mineralogy and gold recovery amenability. Whether they've yet scoped for potential gold recovery (£10k will do it) using the RC drill chippings is a mute point. Finally, remember Randgold's mined grade.They did a lot of drilling with indifferent results before they found the bonanza. So there's still a long way to go yet. Here endeth the lesson! Questions invited.

Rainy season runs from July to November approx. So the question is, in the intervening period from Dec last (cut off date for maiden resource calculation) what drilling and what assay results have come in, and from which permits? This lack of info to the market is not good. Unless I've missed something, the absence of any results (good or bad) suggests that little or no further drilling has been undertaken in their most prospective target. And is Dave Archer going to let his £500k be spent on further drilling in pursuit of the Mali dream? Maybe, but unlikely in my view.

Mark the RNS announcement carefully. The change I that believed was coming, has now started. Dave Archer & Co are on the move! The below average maiden resource will be a minor part of the future of AME. Fill your boots guys and enjoy the ride.

Prae are definitely the main players. But they've had a good kicking with the drop in SP and will be looking for new directions. They will not be sitting around waiting for the rains to stop and drilling to re-start. I still believe the latest board member is the key to how things will move forward. He's got an interesting and proven pedigree of operating mines.

Yeh, in fact there's a contradiction here. As the drilling resource definition was completed in Dec 2012, drilling must have gone on during the rainy season last year!!? Sage, sure you can value a company with an Inferred Resource. Inferred is an official JORC compliant category on which Wardell Armstrong made their calculation. The JORC rules make interesting reading. Why was the SP10p awhile back and for that matter 20p shortly after listing? Because it's all blue sky at that point and based on 'experts' reports. Only when the facts become known will the SP resemble anything like its true worth. Furthermore, the original valuation was done on the Karan and Diatissan prospects. Whatever happened with them I wonder?

My impression also jg. . But let's turn the page. In Dec 2012, they declared that 3,126 m of RC resource definition drilling had been completed. RC drills can chomp thru' 100 metres/day. By drilling only 3 out of the last 6 months, a further 4/5,000 metres must have been drilled. The challenge is to keep up with the stream of samples to analyse. So unless there's been a catastrophic breakdown of the drilling kit/organization - more drilling has been done. But not a whisper, let alone selected intersections results. IOM, not good enough.

Hoping for a better, but suppose the good news is a maiden resource has been declared within the H1 time frame. But Mr CEO, note, it's not in keeping with your lofty ambitions. The resource definition drilling was completed in December 2012, and all the RNS resource announcement (which has taken 6 months to get together) does is recycle old results we knew already. What has been happening in the 6 months since December last? There must be some more drilling results! Inferred is the lowest category. In-situ gold can be valued at circa $139M. Accepted industry valuation criteria is roughly 5% of this figure equating to approx 5p per share. And no more drilling until the rainy season ends in December. My verdict: A very average result and must do better.

Thanks JG. Nice concise report. I wonder what the Praetorian mob are scheming.? Doubt they were there to serve tea and fairy cakes.

The BOD should feed us the juicy intercepts as they occur. Folk get tired and drift away. What's your JORC resource predictions guys? From the last announcements, with lots of metres @ circa 2g/t plus a few high grades my guess is 350,000oz @2.25 g/t. Anyone closer than that and I'll buy them a sherbet.

AGM next Monday. Good time for good news? Tick-tock, tick-tock.......

A 500koz JORC resource should = an SP of circa 25p and a 300koz resource = 16p. Discounting these numbers by 50% puts the SP in the 8p to 12p range. A deal that's done for anything less will be a steal.