Member Info for prickly

I guess the SP has sunk so low now that the only way is up. Investors brave enough to buy now must stand a very good chance of doubling their money. Presumably our CEO has not spent all our placing money and the new team plus Laurence Read will have some news for us after the GM which i plan to attend next thursday. Fancy going Quindell? They have plenty of your cash . Be good to know what they plan to do with it..

I think you have to go by the recorded traded prices and this suggests a small increase today on last nights final trade. So unless there is a large sell due to be recorded then this price is wrong. Last trade at .4615 . When is Laurence going to reveal to us what he and the new supremo Bird are planning for our company? Am getting bored with this SP but cannot afford to sell up and go elsewhere at this low level

An article in yesterdays FT suggest copper prices and copper miners are in for a boost with the current price surging over 60% over the past two years. I spoke with our CEO LR last friday at some length. He claims there is much good news in the offing. The BZT shareholders need him to deliver something soon.

When I met up with Bernard Olivier last november he said BZT needed �1m to get El Choco ramped up to two daily shifts at the original open pit operation. Once they were digging 20/7 (two daily ten hours) and this should have been ready by April 2018 they would be making good profits we were assured. This was just before they raised 500K at .40. and the shocking news that they were halting production and putting El Choco on a care and maintenance basis until a new partner could be found to to J/V this. This 500K was then used to buy up the licence of the 2000Ha site which they were in the process of scoping. Results of this scoping are now due. The preliminary results showed a much higher proportion of gold than expected which should be good news. Off loading the Mankayan licence was then being discussed with three potential suitors. Remember the price was to be somewhere in the region of 5-10M USD. These proceeds could be used to fund the larger 2000Ha El Choco site up to full production without any more ruinous placings. Now I dont know where we are with these plans but this all sounded like a coherent strategy not very long ago and I was reasonably happy that the light was clearly visible at the end of the tunnel. Then suddenly this " tunnel" collapsed and we were left scrambling around trying to find a benefactor to keep us afloat. I still do not understand how this fairly rosy scenario disintegrated. Anyway presumably we now have, post Bird and co the funding at least to get the original El Choco pit upto full and profitable production and get us back on this track to mine the much larger licence. This is without any proceeds from Mankayan. This is what we need to hear from Laurence. I do not want to hear that all the money raised recently goes into some sort of marketing budget whilst they flail around looking for new partners and yet more dilution.

It may be interesting to listen to the jubilee metals podcast tomorrow am to hear what Bird plans to do with his new investment. (if we get a mention) . Disappointed to see the end of Ed Nealon and sorry LR is still with us. I am not entirely sure LR does not draw a salary btw. Have we recent confirmation? C olin Bird has plenty of experience i.e no spring chicken D.o.B 1943. Let�s hope he can start up production pronto at Choco. The Sp needs something solid not just more vague aspirations.

is the one that safely landed on the moon. According to Neil Armstrong. So pretty successful! I remember it ... We are not referring to the 70's movie in which a bunch of Germans attempted unsuccessfully to kidnap Churchill ..

I've been watching the shenanigans going on at Stellar diamonds a small cap miner which has just been subjected to a conditional offer valuing it at 4.5 times the previous days market cap. Lets hope the same happens to BZT. we could get close to Quindells valuation then and most of us would be happy .

I agree with practically all you say Martina07. Although you may be a tad harsh on the non execs passing their sell by dates. These two non execs are probably in the midst of retrieving our financial gonads from the furnace as we speak. Had they been in operational control rather than Read and Olivier we would probably be riding a lot higher than we are. I hear that Laurence is incommunicado and that hopefully means we are in lock down awaiting announcement of serious disposals, as you suggest. I presume Exumax could continue to run El Choco if this is maintained in the company . The rumour had it that we were looking for 5-10 m USD for Mankayan and that price can only be enhanced by Lepanto's progress. No idea what Eureka is worth but I have heard that we outlaid several millions on it. All in all i would guess the company assets are worth at least 12-15m usd. Given a firesale price we might end up with 1.5p per share in a worst case scenario. As a second option if BZT were to take on fresh capital (from disposals) and a new team then easily double this. I am very much looking forward to how Ed and co are doing and I guess the next RNS will be critical

Let's hope investors are finally beginning to put their money where our mouths (and Money) has been for months now. Despite chronic mismanagement of our cash flow by Laurence and Beauforts the value of our three major assets is there for all to see. The SP could easily go up back to 2p and beyond once we have enlisted some proper backers. I have topped up again as I think we are going to see some upward momentum now. Some respite at last ? for all our patience eh Quindell Randy Finda happy.

No Quindell I have never sold a single share... When it gets back to 2p agin I might . Not sure what Platman is on but I think he is saying things will improve and I agree. At this price our assets should be irresistible to someone. What has happened to our background buyer btw. perhaps he has reached the declaration threshold and does not want to reveal his ID.

Likewise Quindell. This is getting very cheap and I will be back in if this carries on.

But i think the problem here was repeated drip drip of cash calls which wore everybody down. But even so we might still have sustained a 1.2-1.5 p Sp but for the critical error of leaving us short when profitability was in sight. Bernard assured me that we would be making 50kplus profit per month minimum from April this year when ramped up with 2 daily shifts. Somehow this message was not conveyed to the brokers or they did not believe him.

unless we have all been sold a pup there is definitely a massive undervaluation of the BZT SP and i would not be surprised to see it around 2p in a couple of weeks . This will however require a Columbian J/v or a takeover and of course it is no way guaranteed . It does give you an opportunity to mitigate your substantial losses (and i fully sympathise). Catching a falling knife is painful but if i were you i would have a go if you can stomach it. If not then you had best avoid this forum for a while as it may cause you more pain if it recovers and you are not really involved.

I am not sure what you mean. However in my experience of running businesses .... good guys get offers elsewhere whereas the dross has to be sacked.

Davie i quite understand your feelings about this share. We are all (well most of us) nursing heavy losses and are close to exasperation with the newly promoted fool who is largely responsible for the mess. However the assets are a fact and even a hopeless salesman llike Read should be able to sell a tenner for five quid. Bernard Olivier was a decent geologist and has jumped at the chance of a well paid job. He had no idea about how to deal with the City however. Read presided over the bungled placing policy which brought this company to its knees. The sooner he is dispatched the better! The darkest hour comes just before dawn and to mix metaphors i genuinely think we are nearing the end of the tunnel . You may well call me delusional but time will soon tell.

It does seem ridiculous that BZT should be in such a lowly position. The last placing was a disaster for we shareholders and is an object lesson in how to screw up a promising project. Now we are at the mercy of the market and relying on others to see the value which the likes of Laurence Read has nearly destroyed. Fortunately we still have Ed Nealon and a strong commodities price (even allowing for a weak dollar). So i am quite optimistic we shall see some positive action in the next few days.

imho we are looking at two fairly imminent options: A J/V with exumax or a t/o by the background buyer. Either will provide a massive boost to the share price but a T/O especially if it involved the Eureka and Mankayan projects would be better. could be an interesting few days !

I think the buyer will have to declare his holding soon as I think the threshold is 10%. am i right Quindell? I guess they have few days to file it though.

i suspect that Bernards departure heralds the new era at BZT. Am surprised that Laurence is still around but let�s hope he is just the caretaker until we can get a new regime in charge. BZT deserves a better CEO.

It seems that some serious buyers have seen past the bungled placings of the current BOD and have spotted a bargain. Ed promised no more ruinous dilution via the equity market in the recent RNS and this means asset finance, JV or a takeover are the three options. I expect Ed himself will have to take back the reins here and sort out the funding, The slow and steady price rise suggests confidence that he will achieve something soon. At least I very much hope so. Anyway I have bought more today as I think we have finally moved off the bottom (and a very low uncomfortable bottom it has proved to be!) It would be good to know if the background buyer highlighted by Quindell is accumulating with a view to launching a bid or merely a bargain hunter who assumes that sooner or later this company will realise a reasonable price.