RE: new colin intervew6 May 2021 23:58
It has just occured to me:
1] Mr Colin Bird, Executive Chairman, BZT in his interview today with Zak [Galileo] said that "ENTERED INTO CONTRACT...promises were made, promises were not kept, EXPENDITURE per contract- our advice."
Per the last BZT RNS, Mr Bird said they will consult with Singapore Counsel [legal]. Obviously, the said Counsel had advised on BZT* legal position. This is the law of contract. The TERM/S were NOT met ie expenditure.
As for the background, MMIH via MMJV was going to do a RTO into Asia Phos, a listed co on the Singapore Stock Exchange. It was NOT RTO*ed and Asia Phos issued a TERMINATION OF THE RTO WITH MMIH VIA THE JV MMJV dated 7 Apr 2021. BZT issued an RNS on the termination with MMIH on 8 Apr 2021.
It is possible that BZT HAS NOT YET T R A N S F E R R E D 80% OF MANKAYAN YET due to
1] MMIH never met the said expenditure under the contract.
2] There was no RTO into AsiaPhos.
3] AsiaPhos is still listed on the Singapore Stock Exchange and it was the new shares that BZT was going to be issued with in payment for 80% of Mankayan.
So, without all the above fulfilled LEGALLY, it is possible that the LEGAL TRANSFER OF 80% OF MANKAYAN HAS NOT YET TAKEN PLACE??!!!
Otherwise, how COULD Mr Bird say "NO SHORTAGE OF SUITORS." If BZT does not own 100% of Mankayan, then, there needs to be settlement ie re-transfer from MMIH otherwise BZT cannot accept or entertain suitors even if these are preliminary in nature for example? Legal 101?
As for the MANKAYAN JORC 2012 UPDATED VIA MMIH USING DE-RISK GEO MINING OF QUEENSLAND, BZT may want to check or commission another JORC 2012 themselves for Mankayan given that it was not done by BZT or under BZT?
Given Mr Bird said in one of his interviews that he reads the forums, one hopes he will CLARIFY the above?
Just for discussion.
Hoping for CLARIFICATION FROM BZT & MR BIRD AS AN OFFICIAL UPDATE?
Thurs, 6 May 2021.
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