Gold Exploration in West Africa

[roan]

Re EET. I do not like Youga, looked at it when it was on the block. Too litte oxide, too much hard rock and I could not see great upside. At Semafo, the Managem management reduced operating costs but I think they were the cause of those stupid hedges Semafo is involved with. Samira should do OK but again, I think most free cash goes to Semafo not EET. Semafo has a better play in Burkina (Mana) than EET as well. As much as I loved Ivory Coast in the past , and worked there, the current state of affairs will not change in the short to medium term so starting mines there will be very difficult to say the least. The powers in country are profiting nicely from the current problems so they are in no hurry to change.