Replies to post #747 on 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.

[FL]

What's West Africa's least-known country?

Guinea-Bissau. Even people living in Guinea generally have no idea what's going on in Guinea-Bissau.

This beats Niger, mentioned in my earlier message, and The Gambia, for international obscurity.

In the American press, Cape Verde, Sao Tome & Principe, Mayotte, and Malawi are very obscure. That used to be the case for Equatorial Guinea, Sierra Leone and Djibouti, but times changed. Since Emperor Bokassa, Central African Republic hasn't got much attention.

For worldwide gold/resource exploration, its arguably good to be an early participant in an "obscure" country -- but there aren't that many left in the world.

Champion Resources, now part of Red Back (RBI.V), said they did a general prospecting survey of Guinea-Bissau, but I don't think they found any significant precious metals. They did license a large phosphate deposit near the Senegalese border.

FL