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We just need the bigliest finance deal accompanied by the littliest most teensiest warrant and dilution award and we are then cooking on copper.

According to our glourious leader on Roast, XTR is likely to be a 10 bagger and great things are going to happen at Bushranger.

Let that sink in.

Feels like the success at KEN has gone to his head and this also feels like 2020 all over again. Well hopefully no Covid this time.

Banzai

CB is running out of words to describe this finance deal: imminent, round the corner, forthcoming weeks. I wonder what he will pick this time ? Joking aside, the longer this runs, the more chance of another dilution to maintain progress.

A query though. Prior to the last raise, we needed £7 million in finance to enable construction. The last raise netted £2 million, of which circa £500k went towards our expanded stake and the remaining £1.5 was used to honour contracts and gets things moving.

Do BZT now only need to raise £5.5 million ?

Rm, I think a bit of both. The P & D brigade will have been active in KEN and will now be shifting here. Similarly, news should be close. It will be two months at the weekend since the due diligence phase finished and CB told us we were just finalising paperwork over 'the forthcoming weeks' though us seasoned holders know what a timescale is to our glorious leader.

However, mine construction continues and IF the financing deal is a good one and Charles Archer raises his forecasts in line with the new copper prices and JORC, this will re-rate. I am not convinced of it being a 7 fold multi-bagger like some here but if we got back to .3p ( my initial buy in many moons ago) I would be satisfied as I have averaged down since I was younger.

For new retail investors, this is worth a buy as whilst there is always risk, this is more likely then not to rise nicely from here and that is from me, an all-time accredited CB cynic.

Folks, all this arguing has woken up the 'Head of Shareholder Loyalty & Internal Security.'

I am not sure telling us about 'value creation' is the way forward when the 'imminent production' timescale of 3 months has been missed but what on earth did we expect ?

At least we had some detail on what is happening in terms of some blasting work and preparation towards production which will be 'soon.'

An intersting update and the finance issue was explained well.

One thing of note though was when he was asked about the recent fundraise he mentioned it was to keep the development process ongoing and not lose credibility with the suppliers. I thought the main focus of the fundraise was to buy 20% of the project, not keep the lights on. Strange he did not mention what I thought was the most credible reason for the fundraise.

Will we need more of these 'peanuts' fundraises to keep the wheels turning and lights flickering?

Hubstar, The economics look excellent and I look forward to the new analysis by Charles Archer. Work is progressing in the background on the site which is great. You would think this should be surging by now.

The problem is the fear that CB will need another dilution and a pile of warrants to keep the diggers digging. That and the unknown nature of the finance deal. Will it be the mining equivalent of an old style pay-day loan in terms of costs and will this be another rinsing of value for the shareholders ? Who knows, but more importantly, who can trust ?

Sadly my tongue-in-cheek comment about CB's timeline of 'forthcoming weeks' being 'forthcoming months' is looking a bit too accurate for comfort.

Hubster, what evidence points to this please ? There have been large selling blocks but that is a drop in the ocean compared to what is held.

In any case, if they ARE warrant sales it points to a lack of confidence in the holders who are selling now when we are meant to be on the threshold of a finance announcement...or perhaps we are not.

Prickly, everything you say about progress to date is correct and a lot of ducks have been herded into line. However, as RMc states, the last dilution was the kicker. I can see why we did it but wish we had sought external finance rather then this. It reinforced the lack of trust in Colin and that is now what it holding us back.

Were there credibility, we should be flying by now as we are months away from an extremely profit making copper mine. But who out there trusts Colin not to undertake another dilution or over-promise or mess up the finance deal or miss a time-scale ? What was 'forthcoming weeks' is now edging towards a month or more and that reinforces the lack of trust.

I for one remain hopeful and topped up on the last drop at 0.068. Credit where it is due, his team in Namibia have worked wonders but we are saddled with CB's reputation. He has a long way to go to rebuild this and a signed, sealed and beneficial finance deal will be part of that.

There are two sayings that spring to mind, ' you are only as good as your last job' and to paraaphrase Charles Archer 'To a monkey, 'soon' means in the very near future, to a CEO (CB!) it means 'maybe this glacial epoch.'

I wonder what is happening over in West Foreland and Kankuyu not to mention our old favourite Bushranger. Any new drilling this year or have they been parked at a documentary review level due to a lack of cash or interest ? We hope Silverking will be up and running soon but what of these other projects ?

Should be okay though £6k would not get much of a refurb with today's trade prices. Maybe some new taps and spotlights...

We are all just waiting on this legendary finance deal to drop and get a view on the small-print sitting behind it. CB did say in the forthcoming weeks though in his time-line that could easily be 'forthcoming months.' Still on the positive side, construction has started at the site which bodes well.

I think the funding is a done deal. The lack of interest is down to the unknown detail of the funding and whether there will be a dilution or warrant issue accompanying it.

After all, THIS IS COLIN.

Whilst I can understand the need for the last dilution it did reinforce his reputatiion for working it to the shareholders. We also do not know the strength of the deal and whether Colin has held out for a good one or not.

Zap, I thought you were one of his horses… or was that Prickly

Nothing on the Museum website though it is shut all day for an event, I do hope they know what they are doing in terms of publicity

"Extinction is the new black"... love it.

I do hope they have suitably primed some journalists and publications for tomorrow's event. I get embargoes but hoping that publications have free staff to cover a surprise event is a bit of a risk . If it goes well , the publications will be full over the Easter Weekend and on Tuesday this will explode.

Woke up this morning and my initial thought was COLIN ! Can you not go one month without diluting a share ???? Having calmed down on reflection I agree that this is for a material purchase, not just to pay his salary so grudgingly I accept it. To the point where I bought 3 million at .65.

We shall see.

Carlo

Thank you, it is good to see a CEO who responds to shareholders, pity he did not nail the big one, i.e finance but good all the same

Carlo. Thank you but if that were true there would be no mention of the 2nd April event in the first place. Even the cleaner at the conference centre or setting for the event would know what is being showcased. I understand the need not to turn this into old news but they missed the weekend publications. Still we shall see

Prickly, well my nerves are calmer. I will be in that sunlit valley beyond calm when shovels get in the ground and we find the name of our new partner. A good RNS though.

Has anyone seen any publicity for this event ? All my searches return information from last year. They need to do a better job then when they showcased the pork steak being cooked and eaten as that went down like a chubby kid on a see-saw.