Tsodilo Resources Limited (TSD.V) 2010年年度报告「TSX-V」.pdf

1、Annual Report 2010 tsodilo resources limited1tsodilo resources limitedPresident s MessageFellow Shareholders,On behalf of the board of directors,I am pleased to provide this report of Tsodilo Resources Limited(“Tsodilo”or the“Company”)progress together with the audited financials for the year ended

2、December 31,2010.2010 was a challenging yet defining year for the Company.During the year we focused on positioning the Company for the future by diligently executing the strategic initiatives outlined in the beginning of the year.The recession receded in 2010 and a renewed interest globally in the

3、resource sector rejuvenated the industry during the year.Commodity prices recovered strongly during the year and some increased exploration expenditure was evident especially towards the latter part of the year.Diamonds however lagged behind and although rough diamond was achieving prices as before

4、the recession and many advanced projects were resurrected during the year,funding for exploration remained slim.However,our decision in 2006 to acquire our own drill rig and geophysical survey equipment allowed us to continue our exploration activities without delay or interruption during these diff

5、icult economic times.The acquisition of our second drill rig will enable us to accelerate our efforts.We expect to accelerate our exploration,analysis and evaluation activities in 2011.The acquisition of an additional drill rig will allow us to more than double our current meters drilled.We expect t

6、o focus on the more promising base metal targets that were generated during the first phase drilling program with at least one of the drill rigs and based on our most recent micro-diamond results also re-examine one or two more kimberlites.Sample preparation,petrography and assaying are all ongoing