Just looking at a few statements made by BMR over the last couple of months about Star Zinc ore as there are some potentially mind boggling numbers.
RNS dated 17/11 says that equal amounts of WPT and Star Zinc ore will be used when the production is ramped up.
Same RNS says ratio of 2:1 LPR/ISFS mixed with similar amount of Star Zinc ore for the second phase.
There are 573kt of WPT, so we need an equal amount of Star Zinc ore. There are approx 4m of LPR/ISFS combined so, again, we need an equal amount of Star Zinc ore.
Total Star Zinc ore required to satisfy both statements is therefore 4.573mt!
RNS of 16 August says just 275kt of Star Zinc resource has been identified historically. Star Zinc is going to have to be massive then to cope with the input needed to meet these figures. If there is that much stuff at Star Zinc, then imagine the Zn/Silver/Germanium value we can get out of all of that!
We are also waiting on ore results from nearby Ka****u which would probably be added to the mix too but the RNS specifically states ore from Star Zinc first the first and second phases.
I took some serious pain in BMR under Alikhani but more yhan recovered by exiting and investing back into MTR when Borrelli arrived..am now building here again but retaining a fair chunk in MTR.. It was my jaundiced view back then that MTR would try and asset strip BMR....I am less negative about the relationship now
I can see what you are getting at, but BMR remains firmly in the driving seat no matter who may make an offer, for the reasons mentioned. With regard to MTR itself, it hasn't the necessary 'anything' to force through a buyout for whatever price. In my opinion. It is also ill-equipped to take on the project at Kabwe.
Alex has painstakingly taken the necessary courses of appropriate action, particularly on the technical side, with Jeremy Hawke coming in, to build up trust following the Alikhani debacle, reset the Company, and gain ZEMA approval on the main project, which has been accomplished via an impressive EIA application. The personnel has changed markedly, the correct people drafted into all areas of the business that required change, to ensure that the project not only be taken to its fruition, but also for BMR to potentially branch out on a global scale, with a developed method for the optimal processing of tailings. As I say, this is a unique method, niche, but a realistic platform from which to generate significant future revenue streams.
I haven't mentioned Star Zinc yet. Lol.
I feel the point here is acceleration. BMR will have its foot down and be fast approachIng the redline on its own lucrative and environmentally beneficial project, long before MTR can be involved in a project of any significance that will be up and running. Or, at best, will be running but still stuck in first gear, perhaps even with a dodgy gearbox.
Plain enough. I would say that most long-term holders here share this view.
I don't think it's a question of eggs in one basket, it's a question of what your basket had in it when you bought it. If the Cafe basket has a shoulder of mutton, sausages and eggs and plans to sell cheesecake you have a problem. We have painstakingly shopped over the years for parts of Kabwe as they appeared on the shelf. When Alikhani started to buy he was a collector of the various parts and to his credit he single mindedly made it his goal to put the various ingredients under one umbrella. The problem was his culinary skills led him to spice up the dish with a concoction of copper assets that were never in the recipe. Then he cooked the books and let his mates sample everything he had sold to his backers. Then he plain forgot the where he was shopping, what he was shopping for and why on earth he was shopping anyway. He was the risk rather than Kabwe assets in a single domain. I'd rather take the risk of the asset asset in Zambia, acquire other resource in Zambia and achieve the dream of making some dollar and benefiting the local community. Spreading risk seems a kin sometimes to diverting attention, funding and drive. We don't want another Alikhani buying spree based on risk aversion when we haven't started conversion of the task in hand.
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