Tsodilo Resources Limited (TSD.V) 2015年年度报告「TSX-V」.pdf

1、Tsodilo Resources Limited Annual Report 2015President s Message 2015 was a challenging year for the mining industry,with a significant decline in metals and rough diamond prices resulting in a decrease of global funding for development and exploration projects.All segments of the mining industry wer

2、e affected from international mining conglomerates to junior mining companies The Company has pursued a number of measures in 2015 to address the business challenges it faced and continues to deal with lower resource prices resulting in a decrease of capital available for our activities.A focus on e

3、ven more efficiency across our activities in 2015 resulted in lower costs compared to 2014 while still allowing us to advance our main projects.The Company made difficult decisions in 2015 by relinquishing licenses that no longer met the Company s investment criteria in light of the current economic

4、 realities.Fortunately,as a result of decisions made almost a decade earlier,the Company was able to carry on its activities on a limited budget by utilizing its own drill rigs and geophysical equipment.We were able to conduct our exploration program without interruption throughout the year.During t

5、he past year,the Company supported exploration activity by raising funds in the capital markets through the successful issuance of stock by way of private placements.This process will continue in the coming year.Our current share base consists of 33,542,784 issued and outstanding 39,393,970 on a ful

6、ly diluted basis)common shares.Tsodilo has a 75%interest in its Botswana Bosoto(Pty)Ltd BK16 kimberlite diamond project;a 100%interest in its Botswana Gcwihaba Resources(Pty)Limited metal projects;and a 70%interest in the Barberton,South Africa gold and silver project.The world s economies will reco