In latest filing, company made a gold property acquisition. No PR on this news yet. Looks like a good merger or takeover play. Volume increasing
The Company elected to discontinue the manufacturing portion of its artificial turf business. The competitive nature and capital equipment costs necessary to be a competitive manufacture did not fit with the future of the Company and it ability to survive. The Company must now rely on other manufactures to supply it with products to sell to its customers.
Subsequent to September 30, 2005, the Company entered into a letter of intent with Copacabanna (T) Limited, a Tanzania corporation, to acquire certain gold properties in Tanzania. The property specific to the letter of intent is located in Mpwapwa, Kiteto and Kongwa Districts. Initial surveys of the property indicate the level of metal in the property is feasible for economic development of the property. Future sampling surveys will be necessary prior to the development to this property. The Company is working with companies and individuals that have had extensive background in the gold mining business.
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