Member Info for prickly

Dont know for certain where he is at the moment Hemo but he mentioned he was planning a visit around now when we chatted at the investor show. Most of the interest in Mankayan is coming from Asia !

And I doubt if he is there for the duck egg embryos. We all know what he is saying about the value of Mankayan and lets hope he gets us a deal. Fingers crossed...

Yes Quindell I agree and would also be happy with a ten bagger but if CB says it is worth a lot more then bless him and strength to his elbow. If the project were to sell for 20% of the Chairman's valuation the SP should still be around 4p as you say. Seems like the punters dont share his optimism and/or they are terrified of another dilution before he pulls it off. The licence was another worry but I think we can now safely discount permit problems as it is becoming clearer that the new Manila regime is welcoming deep underground mining ops and their issue is with open pit surface pollution only.

wont hurt the demand for EVs and copper ..

Tesla has recently predicted it will be producing 5000 model 3's per week in Q3. Or 250,000 p.a. A tesla uses four times more copper than a conventional car. Given pollution issues in most of the world electric vehicle, demand is poised to surge from the current 1% of production.Especially once the cost is down to reasonable levels and performance is 200-300 miles per charge which is well within reach.This will have a dramatic effect on copper demand. If EV production reaches 10% of total vehicle production by 2030 then copper demand will rise by nearly 30%. Leave aside all the other uses of CU which are myriad, I can see where our chairman is coming from when he says Copper is the future.

between the Tiny SP and minuscule market cap and the asset values has to be in part down to the trigger happy dilution tendencies of the previous board. The other reason has to be that the trade has not yet appreciated that the regime change in Manila has transformed the investment climate in the Philippines. Our licence now has real value. The BOD could clarify their view expressed by Read at the recent investor show that there is no intention to further dilute us for the foreseeable future.

Thanks for the translation. I expect convoluted waffle from Laurence but Colin is more of a straight talking Yorkshireman.

"whilst enjoying the opportunity to progress the enhancement and refinement of the economics of the Mankayan project, which I firmly believe is achievable."

Understood that a company cannot be bought like an asset but a 2 p offer would probably succeed and they would have everything for �15m, rather than shell out 50m plus for the assets

If a large miner were keen to exploit Mankayan and we understand there are some interested parties, would it not be a lot cheaper to buy BZT the company rather than the assets?

I dont get why CB is being so bad mouthed here. He has put his money where his mouth is and if he is talking up our chances of getting a decent price then surely we should support him. CB can hardly insult the rest of the board while he is is working with them. His implied criticism is there in the price he paid for the shares. He mentions that he was amazed at the ridiculous low price he paid. And we know who presided over the massive dilution but CB his presiding now...

Those of us who attended the investor conference last weekend would not have blinked at the sale of Choco. It was after all in the presentation notes handed out. The price was a bit disappointing I agree. However CB is a big picture guy and not interested in minnows that take loads of effort for little reward. His would say if you own Harrods and Selfridges then why bother wasting time managing your local supermarket . When Bernard Ed and Lawrence took us down the little country lane leading to Choco, it was the only road open to us. But now with the surge in copper price and the regime change in Manila a large super highway has opened up and we should speed down it pdq..as he says one major project is ready to rock. Franked and JoRc tested. The other could be just as big . So cheer up everyone CB is our man now and he is very pleased with the two major assets he has stumbled across and his plan is to unlock their tremendous value. He has done it before and his team know how to do it . I am not expecting Read to do this. In my view he has proved to be an expensive waste of space. But CB our is knight in shining armour....

There are quite a lot of details on Eureka which CB visited two weeks ago. He is clearly enthused about the prospects there. The mission statement has 5 points. 1. company has embarked upon a copper /gold discovery strategy 2.To expand and financially model Mankayan to history standards 3.Explore the very encouraging Eureks project in Northwest Argentina 4.Acquire where appropriate other large copper/gold projects where value has been neither released or fully identified 5.Link company activities to a clear exit strategy for shareholders

Let me quote presentation document: �Strong management team technically and financially experienced to advance the projects�. �management have clear view of the value proposition and have history which demonstrates the ability to structure exit�.

Well they say �the company has negotiated a structured exit from the Colombian alluvial project� whatever that means...

Colin Bird gave a 20 min presentation . Main Points: 1.BZt most undervalued company on Aim. 2..After strategic review the focus is now on Mankayan and Eureka. As this is where the value lies... copper is th future 3.He is spending the next two months explaining two major projects to the market and the trade. 4.He was delighted to get his hands on BZT for so little.He sold a project in 2010 for $280m to First Quantum which was not as good as Mankayan. 5.Massive disconnect that BZt has Mcap for so little when it has a �cracking deposit� with JORC compliant inventory. 6.Hi job is to gift wrap Mankayan put a bow on it . He likes to promote something before selling it. CB says it is worth �30m at least. 7.All chartists currently point o a doubling of copper demand by 2030 and CB has no idea where this will come from. 8.Eureka has tremendous potential and they are going to drill and progress this . 9.Outside companies are already showing interest in Eureka. 10.in summary (my take) We will dispose of Mankayan as soon as we can and CB will not give this away! A j/v in Argentina once we have tested towards JORC. CB is convinced the future is in big projects which presumably can attract institutional investors and majors as he has shown in the past. hence El choco which we have spent a lot of time and energy on has been sidelined. Quindell was right but even he was hopeful for some time. So no need to worry about platinum prices any more Copper is where we are at. . El Choco has been sidelined.

these are two key factors that have brought Mankayan back into play Silver Knight.

Well we all agree about this. And I agree with Quindell that the two large concessions we own in Argentina and Phillippines are where most of the value is.

At beginning of this year we paid 200k for the licenses of 2600 HA in El Choco. So it presumably has value or why take up the option? CB has experience of farming out these types of licenses so he should be able to extract value for us. Though we bought these before he joined us...he did say he liked this sort of arrangement. I am not saying Arg and Phil projects do not have more potential, just that the El Choco was supposed to be more immediately available and hopefully not to be written off.

Why would the SP fall if you are right Quindell...