FURTHER INFORMATION FROM DMW:
Here is the list of questions I posed today to DMW, and again, their prompt and realistic resonse. Interesting reading!!
MESSAGE:
Dear DMW,
Thanks for your very prompt and realistic response to my questions! Very refreshing!
I have a few more questions for you.
1) I believe I read that financing was needed to "get the mine operational again". Is there a specific $$ value needed to do this?
<<< 1. We are looking for US$2 million; however, this number is not firm and is a "ballpark" figure only.>>>
2) Assuming the mine was running fine prior to the attack, what in specific would these costs relate to other than enhanced security measures?
<<<2. I am not sure of your question.>>>>
(In hindsite, I think the startup costs are in reference to the enhanced security, i.e., there are not other costs, making the question useless)
3) A hypothetical question for you. Considering the current fighting in Angola, if the security measures were complete, would the mine in fact open or is the current level of fighting and it's location enough to keep the mine closed?
<<<<3. Considering that we continue to operate the Luo mine, I do not believe that the current fighting in the central part of the country would deter us from reopening the Yetwene mine.>>>
4) Can a news release be expected stating that the security measures are completed, separate from an announcement that the mine will be re-opened?
<<<4. I do not believe so. Firstly, I do not believe that it is a material announcement and, secondly, we do not want to disclose in any detail our security improvements to bandits or rebels.>>>
5) Is the statement that the mine should be re-opened by the end of
January still on track, or has it been adjusted forwards or backwards for any reasons?
<<<<5. No change to our plans at this time. We will likely have a better feel for the timing during the week of Jan. 12th>>>
6) Can you give a brief update on the Sierra Leone situation. Anything progress there at all? (Different country altogether where the mine has been closed for approx 1 1/2 years. I'm not focusing on this area or mine at all...just a general curiosity)
<<<<6. Update on Sierra Leone with reference to the Kono/Koidu area:
Text of report by Sierra Leone News web site on 26th December
Minister of Information, Communication, Tourism and Culture Dr Julius Spencer said Saturday [26th December[ that Freetown was calm, and maintained that the security situation in Sierra Leone was firmly under the control of Ecomog [Economic Community of West African States Cease-Fire Monitoring Group] and other security forces. "As far as [the] government is concerned, we remain faithful to the position adopted by the UN Security Council with respect to the conflict in Sierra Leone, which is to simultaneously pursue the military option and dialogue," he said in a press release.
Spencer said that despite media reports to the contrary, "Makeni town is in the hands of Ecomog, although there are continuing rebel attacks on the township. With regard to Kono, no military occupation has been established in the area by the rebels. Rather, the area was invaded by marauding gangs of illegal miners, among whom are rebels. This situation is being addressed by the security forces."
Spencer said that of the 12 districts in Sierra Leone, the rebels were known to operate in parts of only three. "It is also important to stress here that the rebels are currently under severe pressure in the eastern part of the country where they have their main base," he said. "All other parts of the country are calm and secure."
(c) BBC Monitoring Summary of World Broadcasts.
BBC MONITORING SERVICE
BBC MONITORING SERVICE: AFRICA 30/12/1998>>>>
7) I notice on your webpage that there is a map reference to some interest in Venezuela, but can find no further information on it. Is there some place else I should be looking?
<<<<7. We have been negotiating a sale of our Venezuela properties for nearly a year. We concluded an agreement in principle last week for the properties to be sold, and have removed the reference to the properties from our website. As the properties are not considered "material", we have not press released it. We had not been active in Venezuela since 1994. It was costing the company about US$200,000 per annum in maintenance costs.>>>
8) I notice that some of your other interests around the world are
requiring cash infusions of their own to remain valid. Are these in
jeopardy at all with the Angola siutation?
<<<<8. Not at the current time>>>>
Regards,
Kevin |
