Member Info for martina07

I think that they are talking to a number of Industry Groups , behind the scenes, which he alluded to, but obviously cudn't specifically comment on.

To my mind, the biggest danger to current shareholders, if the share price remains at this ridiculously low level, is that the whole Company gets bought out, far too cheaply, by a Mining major. But I suppose that would suit the traders..... !

His body language was a lot more positive than normal as well. Interesting times ahead I think.

IMHO. DYOR. GLA.

Well well. Lundin Mining have a Copper/Zinc Concentration Plant just South of Lisbon, for their Neves Corvo Project.

Lundin were a historical owner of the drilling licence at Toral - and did most of the meaningful "At Depth" drilling work ............. Small World !

IMHO DYOR GLA.

Saw LR at a EUZ Meeting in Manchester yesterday. He had also been to a Major metals Conference the same day and emphasised that Copper was "high on the Agenda", for everyone there, so you can imagine that Mankayan was also very much on the Menu at that same meeting.

Clearly things afoot in the background. LR's body language was also very upbeat & confident, which he usually isn't.

He also said that "Everyone agreed that 1% copper isn't going to be around for much longer". BZT HAS 1% Copper. (plus the gold).

IMHO. DYOR. GLA.

I went for the "Medieval Meal", but sadly, I didn't get the Free Plastic Battleaxe, to stick in LR's skull !

Actually quite a dull meeting, if you already have a rough idea of wots going on, but a few salient points came out of it.

1. They are going to try to take it to a producing mine, over the long term, not outright sale of Toral. Emphasised this several times - said he wasn't interested in the price of Zinc/Lead/Silver NOW, but in the future. This implies that a "JV" Partner is being lined up, rather than an outright buyer.

2. Emphasised the extent of the historical "Core" they found in Cordoba, which they expected to be nothing, but turned out to be a full warehouse, with 44,000m of drilling in it. Some had already been historically analysed. Hence the big meeting on 2nd July 2018, with all "Interested Parties", including Addison, and, no doubt, the interest JV parties.

3. The Silver Credit, in the Asset made it much more interested than pure Zn/Pb, for prospective buyers/partners and no-one had really emphasised that point historically.

4. A lot of work to be done for the Scoping Study, but a lot of that is already underway, so perhaps be prepared for an early delivery of that Study ? LR was "Sandbagging" on that, IMHO.

5. Perhaps the most interesting point. He said that the future of Euz seemed to hang very much with the owners of larger, underutilized Zinc Smelters in the Iberian Peninsula. The one in the North is the Glencore one, near Oviedo (we know that already) but he also mentioned one in Portugal (not far away), to which Toral's Ore cud b potentially trucked. I shall do some more work on the latter point.

They desperately need Instit Investors on the share register too, but that is unlikely until the market cap is at least £20m, IMHO, but by that time, I suspect that the JV/ Sale is already likely to have been completed.

LR had also been to a Large Metals Conference the same day and he mentioned that Copper was high on the Agenda for everyone - so expect news fairly soon on his other "Interest" , BZT, re the sale or development of their Mankayan Project, I suspect.

So there U go. make of that wot U will ? But if you see Directors buying stock, you will know wot is happening !

IMHO. DYOR. GLA.

Seller still there though.

Back to 4p again.

Very dull - wish they'd bugger off !

IMHO DYOR. GLA.

Yep GK, that's about right. Too many shares in issue. Will have to b a consolidation at some stage to deal with that - but maybe not for a while yet, as the BOD don't want to bugger up the SP any more than it is already !!

Lets see wot LR (and MC ?) have to say tonight - if anything.

IMHO. DYOR. GLA.

Yuch, to the share price !!

Original shareholders getting out, by the looks of things. May settle down after that.

IMHO. DYOR. GLA.

Ok, many thanks all , hopefully c u there.

I know it well. !

GLA.

Where is the Manchester conference being held Dillon and at wot time ? I may go along too.

Sorry Folks, but I think that this is now a big pile of poo. The Mine isn't working and the Company has run out of money. The BOD are mostly financiers, who aren't even on the ground in Queensland and lost of them have no direct experience of running a Sapphire mine.<br /><br />I see more placings, or "Death Spiral" Financings and a long, drawn-out death, in which LTH's are diluted out of sight<br /><br />The simple fact is that the Sapphires are too small and the grades are not high enough for a viable mine , in the current Sapphire mkt.<br /><br />Avoid.<br /><br />IMHO. DYOR. GLA.

Yes, LKAB were always going to be the likely buyer of Kallak. Sweden for the Swedes and all that. Said it many times before - that's how business in Sweden works.

Chances are we'll get a small payment for the licence, which mysteriously gets granted just before LKAB announce their involvement. Then all goes through in a matter of weeks ! Sadly I think that the payment to BEM shareholders will be relatively small and we will hav to rely on Graphite for the big payout, if there is any ? I did tell Clivo all of this 6 years ago - but he didn't want to listen, and Kurt has sadly just had to deal with the mess he left behind.

Otherwise, the current £30m mkt of BEM looks far too optimistic, in my view.

IMHO. DYOR. GLA.

Concur there Dillon, sounds like a JV partner is being sought, rather than outright sale and they hav a pretty gud idea of who that will be.

Big conflab soon in Cordoba, where the historical core is kept, with all the interested parties, incl Addison and, no, doubt, the potential JV partner. Boliden or Lundin wud be my front runners for that honour, with Glencore as a possible outsider, as they own the smelter in Asturias.

IMHO. DYOR. GLA.

Agreed Quin - but there are far too many Financiers/Accountants on the BOD for my liking and only ONE Geologist - who is also pretty long in the tooth.

How many financiers do you need ? - CFO , that's it, as far as I'm concerned, for a Company of this size. Even Nick Sibley looks superfluous to requirements now that RLD is actually trying to mine & produce Sapphires in Australia.

Suspect Mr Ashwath (whoever HE is), is now going to end up owning the Company in the end, having shafted all existing LTH's beforehand. Seen it too many times elsewhere on AIM. I'm out.

IMHO. DYOR. GLA.

This really proves, what we have seen happening at FCR, EUZ and BZT, (other Ed Nealon Cos) that he has had his day, and needs to go, like AMI.

New Blood needed on the BOD, and preferably somebody who actually understands Sapphire Mining in Australia and is a Qualified Geologist. he cud be Exec Chairman or COO, but they need him/her NOW !

IMHO DYOR. GLA.

There is one BIG lesson to be learnt here folks and one that I learnt 10 years ago. NEVER invest in Teeling/Horgan Quoted Companies., they are ALL a disaster and run for the benefit of the Directors, not shareholders, without exception.

The only money that Teeling ever made big time, was selling the Whiskey Distillery in Ireland and THAT was a Private Company, so largely benefitted himself & his best mates - again !!

AVOID, Like the plaugue, or Donald Trump (whichever is the worst !).

IMHO. DYOR GLA.

They want shut of Mankayan , for a reasonable sum , then BZT can be shut down, IMHO. LR & CB have other fish to fry, which are far more interesting. (EUZ?). I think LR has turned the corner in terms of his dedication to the project and seems to have a rejuvenation in energy levels - having been totally useless in the past. CB is a tough , old cookie and just wants maximum Dollar from Mankayan - that's y he ponied up with the money. Lets see if he can get it. Likely to be sooner, rather than later, in my view. They don't want to blow all of the recently raised Placing cash on yet another drilling programme. None of them are being paid very much for doing any of this stuff anyway. IMHO. DYOR. GLA.

OK folks, so it luks like the Old mine is where the pay dirt may be, at Abbeytown, with v high grades in Pillars of 30% + Zinc, and good silver grades too, so could see a re-opening of the old workings, at depth, if drilling goes well. Skreen luks like a non-starter - which is a pity, but that's Exploration for you ! It will be interesting to see if any of the intermediate licences at Lugawarry come up with anything, or if the Grand Mine" plan from Abbeytown to Skreen, is also a non-starter ? IMHO. DYOR. GLA.

Agreed Jace, but I would say more like 5p/share, as that wud equate to $70m with 1billion shs in issue, as this was the sum Goldfields previously offered BZT, 5 yrs ago, when the Copper price was lower and falling. Today, it is higher & rising. IMHO. DYOR. GLA.

Very true SK, me too !! (in Spades) , but I think the only reason we haven't seen anything on Mankayan yet, is because the deal hasn't yet been completed, with whoever is going to buy it. BZT don't have the Management Resources , or experience, to take this to a producing mine - even with Colin Bird on Board. Then sell Eureka for whatever it is worth (not much IMHO) and wind up BZT as a Company. Then LR and the BOD can concentrate on EUZ, where, I suspect, the real interest for them lies. BZT has, frankly been a PUP , ever since the days it was VossNet & TanzGold and I , for one , will be glad to see the back of it. It has never had good management, Brokers, or PR, and only the recently appointed BOD has given me any confidence that they will bring things to a satisfactory conclusion for shareholders, rather than just themselves, like so many other AIM Cos. IMHO. DYOR. GLA.

I wouldn't be surprised if Glencore buy it back. They know wot it is worth anyway. Worth at least 20p /share on a DCF basis, even at this stage, IMHO. IMHO. DYOR. GLA.