Member Info for panda1

Hi Manlord, As you probably know I'm a long term holder. Would you mind setting up an email address and posting it here so I can send you one or two questions and points I'd like to raise?

Why is Peter Gyllenhammar sellling?

I'd ignore what Colin says. I remember he used to say Conroast was his best ever investment. What happened to that and when was it last mentioned?

I know you've said you have a personal grudge against Greg but Struthers is in the driving seat now IMO

So you expect the company to build a sizeable resource without doing any drilling LOL

The company is in a very fortunate position at KB East. Instead of having to strip away useless rock to get to the copper-gold sulphide there is a 'cap' of gold oxide which will provide some very useful revenue. As stated in the RNS, exploration at KB is far from over as the copper-gold sulphide ore remains open in all directions and the resource is expected to be significantly upgraded after further drilling. There are already other targets on licence which have much higher gold grades. KB East is predominantly a copper play with the added bonus of a decent sized copper oxide resource. I don't know where you are getting your figures from regarding processing capacity but I'm not at all concerned. One thing to bear in mind is that the nearby mine is relatively old and the available ore is being depleted which means that more processing capacity will become available.

The company had around �5 million at the end of June so there's absolutely no need for a placing. Costs are now split 50/50.

arthy - desperate deramping to try and get a cheap entry ;-) This agreement sets out a clear path to production of gold and copper. If you genuinely thought they would start digging up the ore you are naive and have very little knowledge of mining.

It's worth re-reading the RNS released on 17 January which said: "Management is in the final stages of negotiations with its joint venture partner on the project to advance the gold oxide deposit to production, utilising its partner's neighbouring processing facilities. The appointment to the Board of Mr Struthers, an experienced project manager, will assist the Company as it makes the transition from explorer to mine developer/producer over the coming year." The JV partner, which runs the processing facilities, owns 50% of the company which holds the Bolnisi licence so they have every incentive to keep things on track. I think this is an amazing buying opportunity as the share price is likely to recover quickly when an agreement is annouced.

No rules have been broken or revenues booked twice. Part of the receipts from the placings were still receivable at the end of the accounting period so you account for it as a short term debtor/accounts receivable. It's effectively cash.

No rules have been broken or revenues booked twice. Part of the receipts from the placings were still receivable at the end of the accounting period so you account for it as a short term debtor/accounts receivable. It's effectively cash.

Most of the �400k related to a previous placing. The �800k was the last placing which was much bigger

The �800k receivables primarily relate to amounts owed to GEO from the placing that occurred towards the end of the accounting period. It is cash effectively.

Clearly there is no need for a placing as the company had well over �4 million in the bank at the end of June.

Well, unfortunately the short term fluctuations in the sp are in the hands of YA now as they can easily manipulate the sp to increase their profits. Not much we can do about that so just have to wait for more news to develop.

That's exactly what I'm doing Mac. It's just a waiting game now.

I've just taken 35k shares. It's best to buy whilst they're dirt cheap whilst others are selling and fearful. I've seen it so many times on AIM. The sp will recover quickly when news is released and I believe it is imminent.

That's very bad news that Jay Abbott has left IMO. It doesn't bode well for Midgard which was developed by him.

Yep sounds good. We need to see a massive improvement from last year's disaster at WK. The 65/35 split is good as this compensates for the fact we gave away 7% of WK recently and now own 68%. I was hoping we would also get an update on the Semonovsky tailings project and how the loan repayment of �250,000 due on 12 May would be paid.

There were 2 RNSs yesterday. The second one confirmed that the placing had been completed.