we will know more when the study they have been working on for over 12 months is released. It's on the Buckreef Project. I think they are focusing on the Eastern Porphyry target. I hope all the selling is done before they release that and Consulmet starts pulling gold out of the ground...
This is all window dressing in a delusional hope that someone buys out this turd. Period. All this "conceptual" nonsense is a sales pitch. If Magoo found enough rubes to buy the stock, he might get lucky and find a buyer. Mid 6's would be a win at this point to dump it. Prediction: as cash dwindles, there will be a slow down operationally, if that is even possible and "projects" get mothballed. Magoo will blame market conditions and the price of gold, shortage of capital and then spin it as a win, since he wants to see higher gold prices before digging. Translation: Zero production, zero capitalization, goalposts moved to infinity. Buckreef gets turned back over to the state, game over.
That's it in a nutshell. Why do you think RaDIXhead is running around the foothills looking for anything they can post up as good news? Nickel! Gold! REE's!!! Fields of nuggets at Kigosi!!! The only folks that can mine anything there profitably are locals with a pickaxe and lotsa time on their hands. Like I said years ago, as long as he doesn't produce he can keep this sham going until the money runs out. Magoo already made his fortune off this dog without any commercial mining. He's down to 2 million shares. Even if those shares go up in smoke, he's ahead.
Luddy we both have been through this before (first even if we disagreed glad you are okay). if you take out the portions due to the landholders this amount is less. the average landholder at Kigosi get 45%! Is your figure on a NET NET BASIS??
Its the total for all properties trx attributable after stamico and other interests before royalty tax. I believe the landholders take for kigosi is less off the top of my head i attributed 60% of the kigosi resource to trx. I would have to check my spreadsheet to give you the exact number. Trx is worth something at much higher goldprices. I only speak truth and never lie knowingly.