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Prickly,
"we should not have to rely on eagle eyed PI,s."
Quite the point, if we are funding this to the tune of £500k then I think bzt investors should be updated on a timely basis through the RNS system. That is not an insignificant sum, and, being so needs reporting on the bzt thread. Im not saying every occasion but some updates surely need posting on here by the company.
Mr T
Thanks Prickly for the update.
All the best
) During the exploration period Caerus shall be the operator.
Mr T
as Caerus is the operator during the exploration period we can access info which is important to BZT shareholders via their website Twitter and RNS feeds. CE has already referred to todays announcement .
Caerus are probably better at communicating than BZT but no harm in BZT relaying this same info as not everybody is aware of our J/V as you say and we should not have to rely on eagle eyed PI,s.
Steve,
Greedy!!!
Mr T
>> Surely positive updates of some sort on this particular project would help us lift our sp.
Not yet please - need to free up more cash :)
Prickly,
Many thanks to you and CE for attending and posting your thoughts etc.
One point I would like to make is if we are funding the JV, with £500K, should we not be getting updates via RNS on the progress being made at Caerus. As I have stated endlessly, the market has more or less ignored this JV, in fact if I remember our sp sank following the initial announcements?
Surely positive updates of some sort on this particular project would help us lift our sp.
Mr T
Yep, very helpful. I also think 0.13/0.14p is the bottom of this SP cycle and have doubled my shareholding accordingly over the past few days. Great opportunity to make money here both short and long term imo. gla
Thanks for that - good update!
The AGM was sparsely attended and I sat in front row next to(Caveat Emptor) . We had Colin to ourselves for an hour and a half and we went through some of the projects whilst CE also asked about the options and warrants. Warrants for current raising were not on the agenda. CB was as usual open and straightforward. His general point about options for employees and consultants was to pay a fairly low salary or fee but to offer rewards if the project is successful.
1. Mankayan IDM . When is BZT likely to see any benefit? We seem to have given away a valuable asset for very little . He replied the success of the ASX listing hinges on the renewal of the licence. We have Ronnie in the philippines who is advising on the technical side If this goes through OK (he is still confident) then we should see IDM raising about 10million aus on listing ( say in 6 months) and in about 18 months we will be able to monetize some cash by selling shares after lock in. Value will be determined at the time of disposal but could be quite significant by then.
2. Caerus .. 500K of the raising will go to the joint funding of drilling in Troulli and Kalavasos which CB hopes will be linked together as adjoining mines . Caerus are very positive about the Trouilli so far as we can see . After the diamond drilling is complete and provided it is deemed viable the decision to mine will be taken. The capex funding will be secured from different potential sources. CB talked of royalty streaming trade finance and project finance. He mentioned Trafica. Orion and Excelsior as potential sources that he was familiar with It seems there is quite a choice available in the current copper environment. I was keen to see how this could be financed without further dilution and he and the finance director seemed to imply that not much if any equity finance would be needed . We are talking about setting up a mine capable of producing quite a good income maybe 10-20 million dollars per year fairly quickly.. I think he said it would cost 10 million to set up This was the transformative element , a very good deal for us. Bearing in mind the 80/20 split in proceeds although BZT have to find 100% of the funding
3. Hope Goreb.. The same finance arrangement (CB said template) can be used to set up a mining operation in Namibia . Ie a combination of project finance royalty streaming and trade finance. With a minimum of equity. He hopes to give us news on this within 2-3 months and will keep us posted on the developments . Raju (FD) mentioned later t that he is also very keen to avoid any further unecessary dilution which is not unreasonable as he is a substantial shareholder .
So Caerus Mankayan and Hope Goreb are all within reasonable sight of producing of a "shareholder value event ". Ever the optimist I have today bought another tranche as I think .13 should prove a profitable entry point .