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Offer hovering around 16.12, 16.14 and 16.25p. It was sub16p at one point. Think I'll leave it another day or two. Jambo bwana!

PIs in the main really are a bunch of lemmings. We jump off a cliff en masse. The crumbs will be steadily swept up by fund managers. Perhaps they visualise 100k oz pa target being reached fairly quickly aided by a divi carrot. On the other hand we do not know if two IIs are reducing to zero, I take the view it could be so and have set aside a few £k in readiness for a bottom.

SHG is still a small outfit but a profitable one. The outstanding debt has been paid off. I was making comparisons last night with Acacia and attach links. One objective was to examine their methodology on Gokona. I take the view that one of three SHG sites could follow a similar pattern in the next couple of years.

https://www.acaciamining.com/~/media/Files/A/Acacia/presentations/2019/2018-preliminary-results-presentation.pdf
(See esp. pp 11 - 12)

https://www.byrnecutoffshore.com/projects/north-mara-gold-mine-gokona-underground/
Gokona - Byrnecut Offshore Pty Ltd.
North Mara Gold Mine is located in the north-western part of Tanzania in the Mara region near the town of Tarime, some 100km east of Lake Victoria and approximately 20 kilometres from the border with Kenya.
www.byrnecutoffshore.com

Correction - closing date = 29/09/20

Heavy rain halts proceedings for the day, so continue with the study on W Kenya.

EZ will face obstacles. In the light of Tanzania his team have the skills to overcome them. Barrick set up their local office in Isulu Village in Ikolomani subcounty (of Kakamega). They encountered difficulties. Among them "African Barrick Gold Company in Ikolomani Sub-County was invaded and investor’s property looted by the local communities who felt disregarded and alienated in their own land". And there is a mass of other incidents in recent years.

A newer report shows "the devolved unit handed over the title deed of a 10-acre parcel of land at Lidambitsa area, Idakho East Ward in Ikolomani Sub-county". It therefore increases the 5-acre parcel previously described. Theoretically it indicates the government is at last putting effort into the country's mining industry.

There is a closing date 23/09/20 for "INTERNATIONAL EXPRESSION OF INTEREST (IEOI) FOR ESTABLISHMENT OF A GOLD REFINERY IN KAKAMEGA COUNTY, KENYA" (State Dept of Mining - their caps). So maybe there is a hurry-on coming. Another update that includes "Chinese" and Shanta's name is -

http://bullionbulletin.in/more_mining_refining.aspx?pageid=DTGold9_083120

A few more links can be found at the foot of the report.

@ 12:16 - A bit more SP punishment to come, I think. >$2000/oz should help put it back on course. After some further investigation, Isulu/Bushiangala is not going to be an easy ride. Ministry of Mines has been in a tangle for years. (* Currently very weak on the bid.) I can wait.

@ 12:34 - Dodgy it is. Have been interested, too. Poor jurisdictions to boot.

@ $1,874
Stepping back for a week. Plenty to do.
I was looking at current Kenya miners last night. Karebe seems to be the only other outfit and it's tiny. Slightly dated info on their website but still relevant. One of several features -
http://karebe.com/wp-content/uploads/2018/01/KGML-Response-Jan-2018-FINAL.pdf

https://africanminingmarket.com/tanzania-eyes-historic-revenue-collection/8138/

I hadn't realised Tanzania ranked third in gold in Africa.
Also, with the Kenyan government likely to be reliant on SHG developing the Lihranda corridor, I decided to add £2k tomorrow at this price.
Not long to wait before commissioning of new Singida plant.

(Certainly not going to read the SOLG bb tonight.)

Not unduly surprised by SP reaction and will be hanging in for the medium term. I know there are SA miners wanting to get a foothold in East Africa but hope it's not too soon.

https://www.miningweekly.com/article/sibanye-stillwater-looking-to-buy-gold-mines-outside-south-africa-2020-09-22

"Sibanye, the world's largest producer of platinum and rhodium, aims to acquire gold mines outside South Africa, Froneman said, in a bid to diversify its geographical exposure".

We have no idea how much more offloading will be done. A couple of very large blocks were tendered over the last two trading days. That in itself suggests 7m approx have to be absorbed.

@ 07:46
Echoed. And top work.
Someone in SA told me there is a close working relationship after I asked about prospects of deep mines in Kenya and Tanzania. Glad I finished my buying yesterday just in case there is a surge here.

Hmmm . . . not one of the better days. A reversal of the current trend will be welcomed. Some of us, including fund managers, etc. have a bit of egg on our faces. SOLG, too, had a spot of punishment at the end of the day.

https://www.the-star.co.ke/news/big-read/2020-09-01-why-mining-is-wild-west-story/
Although the snags apply mainly to Migori district there are a few issues to be addressed. Informal artisanal miners are everywhere.

https://www.thisismoney.co.uk/money/investing/article-8755623/SMALL-CAP-SHARE-IDEAS-Shanta-Gold.html

An extract: " It took the world's powerful gold mining executive, Mark Bristow of Barrick, to clear up that mess, but now, with Tanzania back on the world's hot list of gold mining destinations, Shanta once again has a clear run in a country that it has operated in on its own terms without difficulty for many a long year".

Do you want the full story? It's quite long and you are familiar with most of it.

"phenomenal opportunity coming in gold"

Bit hasty on the button earlier this morning. Could have waited for 18.5p. No sweat, have finished buying SHG.
It's odd in that I have a similar view, but for the moment not everyone has the same impressions. It's a real blow to note covid is going to have further impact/consequences.

Be interesting to see tonight if IIs are still soaking up all this stock swilling around.

@ 14:01. Yes, thanks. I saw it this morning. It had eluded me earlier. I also noted somewhere that EZ and LL flew out to Nairobi at short notice to complete the deal over a weekend. No messing around.

How to earn the equivalent of $5/day. There are thousands scratching around in Kakamega. https://www.aa.com.tr/en/vg/video-gallery/gold-mining-in-kenyas-kakamega-county

https://www.altondrilling.co.nz/products/lt140-man-portable/

OK, I accept the Chinese equivalent is cheaper. Depth attainable is c200 metres. Have been curious on limits for initial probes on the new tenements. I further accept that initial samples will give a fair idea on grades. Presumably heavy duty equipment is not on site.

All post contributions have been followed for months. I have my own cautious opinion on how things will go, but it will only add to the conflagration.

https://www.advancegold.ca/news-releases/2020/advance-gold-provides-update-on-its-high-grade-gold-joint-venture-project-in-west-kenya/

" joint venture between Advance Gold and Shanta"

Did I miss something here on 20 August?
Hadn't realised there was a Canadian interest allegedly involved with 12.23%.
Will read it in the morning.
(I do, of course, remember Rosterman at Kakamega - long history there.)

"The areas with rich gold deposits along the Lirhanda corridor include Malinya, Rosterman, Shirumba, Kilingili (along River Iguhu), Shipeso, Isulu, Bushiangala and Sigalagala". (Our licences are at Isulu and Bushiangala. It seems there are a total of seven which may include other locations in the corridor.)

It is claimed "gold from Kakamega was of higher quality than that from the Democratic Republic of Congo and was exported to Dubai, France, Saudi Arabia, Britain and the USA. This gold is smuggled through Uganda" by artisanal miners/dealers.

Oops. Apologies. I see the link was posted hours ago.

https://www.proactiveinvestors.co.uk/companies/news/929428/shanta-golds-us90mln-cashflow-from-new-luika-will-underpin-development-work-on-the-district-scale-west-kenya-project-929428.html

Proactive is oozing optimism. Bit over the top, of course. Nice to return home to have a chirpy read.
There's also a video attached which I haven't yet watched.
Found a bit more cash to use here on Monday.
(SHG recent volumes exceed SOLG by quite some distance.)

Just looking in with a sandwich in one hand. Alwaysone, don't be over-hasty if the years are on your side. Be aware that I only moved a portion out of my SOLG.

Should pick up later on today. Depends if the IIs are taking a breather.

CD - I'm 79. By the time Alpala is up and running I'll be history. Have been very fortunate to have had the energy and drive all these years, but wish to hang up my boots next year. My primary task is to make provision and help a few folk around me. Don't need wealth as I can't take it with me. Whereas your needs are almost certainly different.

Works for me.