Member Info for prickly

Our shareholding in Blackstone is now worth 30% more than our current Mcap. £3.4m BZT versus £4.7 m.BSX This does not make any sense other than lack of confidence in Hope Gorob and the relative optimism of the ASX .All LTHs will be praying this negative view will not last much longer. Of course there is always the chance that Namibia could be be expropriated by our mine hungry President . After all Namibia is a very special country with a very special desert , A very big desert with lots of beautiful sand...

You are right Cyber, Eureka has been a drain on our resources for years. CB points out that it is not just the cost in money but in time and key staff resource. . It takes two and a half days for a team of engineers and geologists to reach the license as it is remotely placed up near the Bolivian border and has clearly been seen as non core by the BOD since the departure of Lawrence Read . Never was CB's favourite!

We are totally focussed on our H &G project now. Once the open pit is up and running and I think this should started this year CB considers the big prize will be the potentially huge project of the 50 km strike which we will be proving whilst we get the cash flowing from the open pit. I have just spoken to CB so this probably makes me a happy clappy according to RMC2407. i see no harm in removing a liability as he suggests. Incidentally CB sounded remarkably up beat and It will not be long before he can reveal why. Not that he divulged anything to me but I dont think we will have long to wait now.

Many years ago BZT under different management did distribute a special dividend to its shareholders . This was after banking a non refundable 10% deposit from Cons Goldfields for Mankayan. So we have effectively been paid twice.

You are right that anyone buying BZT shares now is gettting Hope Gorob and the Botswana managanese license for free.

Mr T

You are understandably unhappy at the current SP as am I. We have had to raise funds and dilute ourselves at too low a level. Things are beginning to change.

We have had four updates recently including three in the last two weeks. The latest gave detailed analysis of the

drill samples including information that the preconcentrate grades ranged between 2.4% CU and 2.95% Cu . We also learned a further .8% can be added to the Cu equivalent for the silver and gold. This is why the estimated payback has been put at 20 months. We shareholders now know almost all we need to know except for the date of commencement and that depends on how soon we receive EIA and social license. CB cannot tell us when we are going to get this but he assures us they have done everything necessary . Meantime we all know what has happened to Mankayan and how it is now fully exposed to the resource savvy ASX. It may not be yet a gamechanger for BZT but it could be in time under Blackstone management . It has certainly started well. we now await the environmental license .for H & G .We could do with some decent exposure to the mining and investment community who should hopefully spot the potential and even some arbitrage opportunities in the rock bottom SP , I am afraid the investment pond we are swimming in a too limited

Scott Williams the CEO of Blackstone praises Ronnie as our man on the spot who has been with the Mankayan project for 20 years. He speaks the lingo and has managed all the key social interactions with the locals.

Judging by the video I think he is hoping to team up with a major to develop Mankayan into a major mining business . Failing that Blackstone will take on the development and progress with a lesser ambition and lower Capex. Either way he sees it as transformational for the company and hence the rerating of the SP.

Yesterday's RNS pointed out with the optimization process now completed H & G project allows for payback within 20 months. CU rising and Mankayan in very good hands . It can only be a matter of time before this company takes off.

I agree Cyber. Mankayan is now very much on the radar . Blackstone is listed on the ASX whereas IDM was delisted some time ago.

The significant rise in Blackstone's SP since the announcement has been a welcome boost for BZT treasury as a 12% shareholder in the merged entity and this £4.4m asset should be reflected in BZT sometime soon. Meantime I have added a few more to my treasury...

The ASX has clearly taken a shine to Blackstone Minerals merger/takeover of IDM with Mankayan.

Shareprice up 40% since the merger making our holding of 150m @.41 worth A$6.2m. Or will be on completion.

This not far short of our Mcap.

So anybody buying BZT gets Hope Gorob Eureka and Manganese project for less than £1 m.

Rmc

Namibia is in a tough neighbourhood I agree but it ranks second out of 34 in World Justice Rule of Law index for sub Saharan Africa and 59th out of 180 in Transparency International corruption perception Index 2023. So one of the better performing nations. We also know that the government has taken a strict approach to mining companies lately so our license was heavily scrutinised before being granted . So I think we can afford to be optimistic that our project will happen

In his State of the Region address of August 15 2024. Governor Neville Andre provided detailed insights into the Hope and Gorob project. Apart from the economic impact and communiity engagement plans he also emphasized the structured timeline for the projects completion, noting that both processing plants are scheduled to commence operations in September 2025 . This was before the Mining license was announced . So I think it is premature to proclaim this is dead in the water. We can assume the governor is privy to more information than we mere shareholders.

I would rather not set up another charity chaps. But thanks for the offer. I note Mr T was not in a hurry to take up my bet at 5000/1

Anyway I think the pesky constant seller of 10 million plus per day is doing more damage than Mr T.

Investors are coming on board but in such a small company one constant seller of 10m per day is enough to quash any serious recovery until we start digging. I wish the seller would reveal him or herself on this BB .

Mr T

You have become the most pessimistic poster on this BB.

I would like a tenner with you at 5000/1 on prospects of H & G being up and running this year

You obviously wont take it so why post such nonsense.

Manakayan should realise about 40-50 M aussie $ and our share would be about 5-6 million sterling .

We LTHs have lost a lot on this company but what is the point of berating the BOD when some prospect of an SP recovery is in sight. You are in my view putting potential investors off

We have to get the environmental clearance permit . Our application has been submitted and should be forthcoming soon. Below is the response to my question to AI as to the likelihood of it being granted .

while specific statistics on how often clearance is refused are not readily available, it is known that refusals do occur but are relatively infrequent compared to the total number of applications submitted. The Ministry aims to work collaboratively with applicants to address concerns raised during the EIA process, which often results in modifications rather than outright refusals.

In summary, mining companies must wait for an ECC before commencing operations, and while refusals do happen, they are not exceedingly common when proper procedures and community engagement practices are followed.

Probability of Answer Correctness: 95%

Whaleshark

I think the best assessment of BZT has been given by Charles Archer.. Charles' view is that BZT is the most likely of the CB group to come good this year and with a prospective profit of at least $10m pa accruing to shareholders. If this happy prospect materializes then the SP will eventually rise significantly given the MCap is so low atm.

Mr T

We no longer hold the regular group discussions with CB as you know but I do have the occasional message and phone call.

CB has been yellow carded by the nomad for his forward looking predictions and is much more nervous than other CEOs who are not under the threat of suspension so you will have to forgive the absence of regular updates. He has assured me that everything is on track but he will only issue an RNS when he has critical news to announce . Like Irish who is familiar with southern Africa I believe this news will be forthcoming and you can get the fireworks out soon.

Mr T. CB did suggest in a recent podcast that they had been busy preparing contactors in anticipation of the license being granted. . The implication was we would then hit the ground running once it landed. We have not heard anything positive for 8 weeks so the SP has drifted. I bought 2.3 m today (shown as a sell) as I expect news soon. Like Irish I remain optimistic

This article which is dated 25th August underlines the good relationship BZT have with the local governor of Erongo Region > Neville Andre. It is written by the government agency so focuses mainly on the employment benefits of the H & G project. BZT are doing well to maintain good terms with the local government

Since then we have had confirmation the main mining license for the open pit and the exploratory license for the 62 km strike so progress towards the Q3 opening looks good. The main drag on the SP is the constant seller of 10-20 million plus on a daily basis. I am still buying in when I have the cash and hope the sellers will soon be kicking themselves as Irish suggests

Totally agree Philos. I have been a regular visitor to Shenzhen and am amazed at the improvement in air quality since I first went in the 90's. Chinese are way ahead of us.

I also love the way AQ has improved in london since the buses have switched (lots of them) . Personally would love a Tesla but BZT will need to get back to what I paid for it !

Tesla controls a 56.53% share of the US EV market.

35% of all new electric cars in the US were registered in California.

1.179 million all-electric cars were sold in California in Q4 2023 - it was the most popular state for EVs.

105,258 electric vehicles were sold in the United States in January 2024.

Just under 20% of new registered vehicles in UK last year were EVs.

Hardly dead on its feet Mr T maybe not growing exponentially but growing fast nonetheless

Mr T

The short answer is they are lined up but not in the bag . The market here, tiny though it is, is not prepared to invest until everything has been signed off.

Clearly as you suggest they do not believe the mine will go ahead, So it has been sold down to shell value. Personally I believe it is going to happen but a lot have lost all faith and I totally understand. All i would say to them is consider the odds and if you think it has only a one in ten chance of succeeding to get the projected income of $30m per year then it is still worth hanging in there.

Mr T

CB informed us at a recent AGM that he had been warned by the Nomads to be very careful with his announcements as he has probably been a little cavalier in the past with this predictions. This is why he is being more cagey than others and is only going to announce key landmarks events as and when they happen and in an RNS. The mining license has been granted and the final environmental sign off is more of a formality although they cannot confirm this officially.

The Sound engineering report was to commissioned to assist in the planning and design of the HG mine and this has been published. The finance and construction of the mine along with power sourcing (solar panels) is all work in progress . I am as keen as you to get things moving but we have to let them announce when events actually happen not predict them .