Tsodilo Resources Limited (TSD.V) 2007年年度报告「TSX-V」.pdf

1、Contents Presidents Message to Shareholders 1 Managements Discussion and Analysis of Financial Results 2 Financial Reporting Responsibility of Management 12Auditors Report to the Shareholders 13 Consolidated Financial Statements/Notes 14 Corporate Information IBC Newidico and Gcwihaba Prospecting Di

2、amond Licenses-as of March 21,2008Fellow 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 December 31,2007.2007 was the first full year for the o

3、peration of our Atlas Copco CT14 diamond core drill rig,and our drilling operations in the field proceeded efficiently and without interruption.In total,six kilometers were drilled on our kimberlite and base and precious metals targets and a similar length of core was collected for analysis.The deci

4、sion to purchase a drill rig and supporting equipment as well as geophysical instruments has produced the expected results as we have the ability to select a target;perform a detail ground geophysical survey;and drill test it all in a matter of weeks as opposed to the months or years which it previo

5、usly took.Operating our own drill rig has given us the ability and flexibility to advance our exploration at a far greater rate and at a fraction of the per meter drilling costs of what it was previously.This efficient use of our resources resulted in the confirmation of fifteen additional kimberlit

6、es in the Companys Nxau Nxau kimberlite field in 2007 and provided a wealth of information in furtherance of our base and precious metals exploration projects.During the past year,the Company funded exploration activity by raising funds in the capital markets through the successful issuance of stock