KAT Exploration Inc (KATX)

[Kadin]

HV...It was part of a 'Development Plan' initiated under the Terms in late 2009.
In the SEMS reports you will find they mention this in 2010 and 2011.

In 2006, following a strategic review and prioritisation of its worldwide operations, Anglogold Ashanti put the Bibiani mine up for sale. At this point the Bibiani mine had produced a total of approximately four million ounces of gold over its operational life.

The mine was purchased from AngloGold Ashanti by Central African Gold (CAG) who continued to explore and develop the underground potential of the old Bibiani mine. Towards the end of 2008 the financial position in respect of the Bibiani mine had deteriorated to such an extent that CAG was unable to continue operations and the local company, CAG Ghana Limited, and its assets were handed over to Investec Bank, South Africa to whom CAG owed a significant debt.

Investec subsequently put the mine on care and maintenance and initiated a process of evaluating the options of operating or selling the mine.

In late 2009, Noble Mineral Resources Ltd signed a ‘Sale of Shares’ agreement to acquire CAG Ghana Ltd from Investec Bank subject to a number of Conditions. One of these Conditions states that Noble shall formulate a ‘Development Plan’ for the development of and the return to production of the Bibiani mining and processing operations.

http://www.nobleminres.com.au/live/wp-content/uploads/2012/01/SEMS-BIBIANI-Mineral-Resource-Estimate_FINAL_100301.pdf

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75525414


I understand why you view this as encouraging and, if the Company had a tight float and zero debt, this might be something to get excited about.

However, over the last two years the Company's performance and practices have destroyed investor confidence.

I know you understand this is a capital intensive business and junior mining companies must raise a lot of capital.

How do you think this will translate given all the variables, i.e., under Regulation S, Operational Expenses, and realistic projections?