Member Info for Professor1

Hi Mickey Good afternnon- Agree on that absolutely - in that other case I think the BOD must have known and therefore misled the investors? I have posted some questions there to collate and send to BOD.

I think it may be appropriate to collate various questions investors have for TIM on this RNS which can be emailed to him. We have every right to know why this is being conveyed to the investors at the last minute. Please see below my take on the questions in BOLD.

"However, IAMGOLD has been unable to complete their planned Year 3 work programme and, as at the end of the Year 3 term, has also failed to meet its spending commitments under the terms of the Option Agreement".

WHEN DID TIM COME TO KNOW ABOT THIS? WHY DOES HE LEARN AT THE END OF THE PERIOD - WAS HE NOT BRIEFED ON A SAY QUARTERLY BASIS SO THAT THE SHAREHOLDERS WOULD BE BETTER INFORMED TO MAKE THEIR DECISIONS WHEN INVESTING?

"We are in discussion with IAMGOLD on its recent request to carry over the Year 3 underspend into Year 4".

WHY "OVER YEAR 4" AND NOT SAY IN THE FIRST HALF? WHY CANT ADDITIONAL RIGS BE BROUGHT IN TO ACCELERATE?

"We are hopeful of seeing an expanded work plan proposal from them soon which will capture both the existing underspend from Year 3 as well as the Year 4 commitment, and to agreeing an appropriate way forward".

WILL THERE BE COMPENSATION FROM IMG TO THE EXTENT INVESTORS HAVE TAKEN A HIT?

"Meanwhile we reserve our right to give notice of breach for failure to meet the terms of the Option Agreement".

DOES THE OPTION AGREEMENT PROVIDE FOR ANY COMPENSATION?

Discussions with IAMGOLD are ongoing, and although we are disappointed that IAMGOLD has missed its spending and work commitment for Year 3, Senala is an exciting asset in a very prospective mineral belt, surrounded by a number of large and encouraging deposits,

"and the Company has a number of options available to deliver value at Senala."

WHAT OPTIONS IS TIM TALKING ABOUT?

Hi Hunniford

Agree with you. I think looking back at the previous RNS when IMG moved to drill at FARE from the southern target, it looked then as though they were rushing and I am not surprised at all with today's announcement. 10m drill holes is not what was intended. This is a massive overreaction and our BOD know it. Excellent buying opportunity in my view if one has the funds.

Good afternnon Iawaacian and everyone - All good but got little busy on some pressing matters.

Excellent RNS in my view. " Many targets reported higher chargeability than K1A prospect". As you will have seen some days back the summary I had posted on K1A prospect, it would superb - perhaps I should re-post that as a recap for everyone to get an idea what this means for the current targets.

Hi Mickey

Absolutely. Labola will be a good starter. Gold prices have just started to pick up now so will be a catalyst.

Mickey - nicely summarised. Any time it could land

Hi Billions

Agree - cant complain if we get double the AFC.

For the overseas investors, however, it will be a question of how desperately they want this asset / company. And, this is where I was coming from on the discount rate being used- If the overseas buyer really wants this then you cannot have this differential in the discount rate but I may be wrong.

Hi Billions

The discount rate that has been used is UNJUSTIFIABLY high due to the country risk that has been factored in when compared to other countries such as Canada. This will change in my mind, particularly when the country is becoming open for inward investment.

Billions

Can you show me one exploration company which may move onto a development phase that has been valued on the basis of a market value of another company's share. They are SIMPLY NOT.

Deano1963

(1) How many mines are there in the world which can say they have 15m ounces PGM plus a potential further of, as pronounced by the co, of 25m ounces. Not many I can think of.

(2) Ignoring for a moment the other metals including Rhodium, we have average price of $1900 between Palladium and Platinum.

(3) Currently, Gold miners are in a similar situation in that big gold finds have simply disappeared.

With gold, the in ground value of Reserve find is $300 per ounce whereas it us $100 for a Resource find.

(4) If you applied similar matrix to EUA :

(a) the 15m ounces at $300 could fetch = $ 4.5B
(b) the additional resource of 25m oz @ $100 could fetch = $2.5B
(c) WK and other metals fetches say 11p per share
(d) All of the above gives about $2.44 which is my target price.

(e) PGM - although an industrial metal, its significance has only just been realised and

(f) There is no reason or other macro or geopolitical reason that PGM cannit fetch similar inground values as gold.

(g) As with gold find, where the prize is bigger, there will definitely be a bidding war - that's one of the reasons I think there has been a delay.

Anything less and I think the management can walk away from the deal.

Good afternoon Womo, Mickey and all

Agree news due to be released soon.

All gold miners have suffered lately due to US Treasury Bond Yield going higher because of Fed giving wrong signals about real interest rates to the market. Therefore, funds have moved out of the Gold ETF. But this wont be for long and looks as though it has bottomed. Any good drill announcement and we will have a higher new SP base. We have a year full of various announcements which will be a catalyst for SP. Great projects and great opportunity to add further.

Good evening Mickey and all

Have not seen much of the chat this week as have been busy with other matters so apologies.

Absolutely agree - Labola should be a nice starter (hopefully full of positive surprises) with plenty of other news to follow.

One thing really resonates is that on Mr Bolton's appointment, the Board stated "........roles have allowed him to prove himself in countries with complex and difficult bureaucratic, political and business regimes........where Panthera operates".

" Mark joins Panthera from his role as CFO of Oilex Ltd.......where he played a key role in resolving a number of complex legacy issues including a LONG STANDING DISPUTE WITH ITS JV PARTNER, an INDIAN STATE - OWNED CO".

https://youtu.be/16mhhUV3hek

MP

We are squeezed here well and dry and I am not liking it at all.

Greb

I am one of those eagerly waiting EUA to hopefully come good and will certainly be loading up here.

Hi Iawaccian

Like many others here, I try to do what I can in my spare time if its going to benefit us all in any small way.

As regards Bhukia, my view is that we may not have attended nor we should be attending any court seating until the the Rajasthan Govt decides the next step. I would not be surprised if our lawyer would have taken this line. But we should see if we get any new hearing date - the thing is I am trying to find the FULL judgement as opposed to the ONE LINER ones we normally see on the High Court site. This may require some investigative work later tis afternoon.

Agree Mickey

Hi Dogstartrader

Thanks for the useful tips.

I am holding onto this one very firmly indeed - in fact I will top up more once EUA materialises.

Mickykay / MEM

Agree with the frustration with how the Bhukia has been played by the LOCAL GOVT. With Fasken's appointment, this has now become an international test for the INDIAN GOVT - it is they, if they wish to seriously follow the spirit of the bilateral Treaty, who will force the local Govt to comply. I believe, the Rajasthan Govt will come to the table as they have a lot to gain a for the region / community by granted us the Permitting Licence, as per the Indian Law.

The West African projects are really good and will prove to be company maker. The trend in gold price will move back upwards for the long term - (video on Kitco by Pierrie Lassonde which I posted back in January I believe).