South China Resources

I am, as always, somewhat confused. What do we really know about this company ? Do we have any idea of the potential resource, the company's plans or timeline ?

The Horn report, which is on the website, was written in September 2006 and was commissioned by the company. They say;

The 2006 project exploration and development plan are to include:
- Evaluation drilling
- Establishment of a Geographical Information System
- Resource Modeling/Reserve determination
- Pre-feasibility study

"The 2006 business objective is to complete phased exploration and to advance commencement of a PFS..."

The report says that their will be an independent review of any resource estimate or resource modeling. Is this the point we are at with SRK?

It also says that the resource modeling is expected to take 8 weeks from when the project data is supplied and it is planned to start to take place in the third quarter of 2006.

As this was written in September a start must have been virtually imminent at the time the report was written.

The report also says that the PFS should start "nominally" in December and will continue to March 2007.


It seems to me as this report was written in September, essentially by the management and assuming they are competent, we must be somewhere near this position.

I don't think the moly problem can have thrown such a big spanner in the works as they say they have known about it since mid year and have been taking mitigating steps.

There is obviously a large amount of drilling and exploration been going on that we haven't been told about as yet. I have no doubt these have been positive as they would have stopped if they weren't.

It would be nice to know where we were with everytning though. I hope the SRK will tell us a good deal more.