ThinkEnv

ThinkEnv: Responded to SGX queries on press release of maiden gold mining deal in the Philippines, stating they have engaged a mining, geological, survey Co, RSC Consulting to carry out sampling tests and geochemical analysis. Add that team deployed has experience in all stages of mining cycle and mineralization style in tMindanao property…..

In response to queries on KPIs of Philippines deal and Ghanaian deal, Grp note that they have extrapolated the numbers to reach the desired KPI as there were no feasibility studies or valuation report carried out before reaching the numbers. The reason given was the long period of time and high cost of such reports. Mgmt has stated they will determine whether such reports are necessary at a later date…..

On proposed subscription of new shares of African Stella, grp clarified that their belief of the achievability of ASWA’s targets was based on ASWA’s own representation. Add that ASWA based their numbers on the recovered gold grades from artisanal workings they have observed over the yrs. Subscription of shares are structured with subscription monies due with passage of time, to allow Co. to monitor progress of investment.