Member Info for prickly

Flipper. Very glad to hear BZT is contributing to your good time in 'Nam. back in the day I used to stay in the Rex Hotel and hang out in Apocalypse Now. In Saigon as they still call it locally. Great fun!

I think we can presume the name of the financier will be disclosed via an RNS on the day of the EGM as this is obviously material . Probably accompanied with some notes from the presentation. I shall be there along with Pricey and we will report back. I hope it will make pleasant reading for those who are marooned in exotic places.

Are being appointed and will answer to Martyn.

Contractor Unitrans will supply the workforce. and most of the equipment .This can be discussed in detail next Monday. Not long to wait.

Cardo

CB has said that Martyn Churchouse will be in overall charge of Hope Gorob. Effectively the CEO.

Copper is indeed rising nicely and don't forget the silver up at $55.00 . From last Feb RNS.....Silver grades significantly exceeded expectations and the figures used in the current financial model. The optimisation study returned an average Run of Mine grade of 31 g/t Ag calculated from the test work assay results. That's a big boost to the Cu Eq. Another 50 plus bucks to the ton of ROM

Mikee

I understand your concerns. I have been in BZT for many years. However as far as I can see we are in a different position now. Pls come to the EGM if poss and you can air your grievances directly to CB. The comparison to Prem does not really seem valid as we have attracted prepayment funding from a major trader which surely validates our claim to near production status . I have spoken to CB and he hopes we get a good turnout.

I have to agree with RMC that I do not appreciate the roasties rambling on about world events. If I want to hear their political views I would rather read the Daily Mail.

It is a paid for promotion platform to discuss mainly Aim shares and there is buxxxxr all analysis of the micro caps on any other channel . So as we are not paying for it we cannot expect it to be impartial.

Bearing in mind our very low capex and our projected free cash flow of at $20 m or more p.a we are going to be one of the most profitable small mines around.

If we successfully scale this up as planned we should be producing about half Atalaya's 50kpta in 5-6 years time. Atalaya is currently valued at £900m Mcap. We can fund this from the small open pit mines. and our AISC should be considerably less than Atalaya's ,

Go figure if BZT is worth investing at its current Mcap of £14m.

Grzesiek

we have sold a big chunk of Blackstone so the drop may not be so important to BZT now.

One of the most encouraging facts we gleaned from the podcast was the close involvement of Martyn Churchouse in H & G. I gather the mine manager and process manager will be reporting to him.

I also like the way the two phases of H & G were spelt out with the open pits 7000 tons leading on to the 25,000 ton operation within 3-4 years. provided the prospecting goes as hoped. I am sure we will have news of the EGM imminently Cyber so you will not have long to wait. That should give a boost to the SP for Christmas. If Mr T's prediction of .20 SP materialises I shall be buying the drinks after the EGM.

I see that Unitrans Unitrans Africa describes itself as the leading provider of end-to-end logistics & supply chain solutions across Sub-Saharan Africa.

unitransafrica.com

Its services cover multiple industries: agriculture, FMCG/retail, industrial commodities, petroleum/chemicals, passenger transport — and mining.

In the mining domain specifically: it offers “on- and off-site services” from excavation site to port across multiple commodities (copper, mineral sand, salt, nickel, chrome, platinum, kimberlite) and across more than 10 countries in Sub-Saharan Africa.

unitransafrica.com

So this company will supply operating staff for the mine and logistics whilst BZT management remain in overall control.

Looking forward to EGM and seeing this project take off.

Howezap

The main advantage H & G boasts is the abundance of near surface chalcocite which means a very low strip ratio. This combined with the Steinert ore sorting allows us to raise our preconcentrate to close to 4% Cu eq for transporting to our NZLM processing plant. The Capex is hence very cheap at $12.8m and this includes purchasing and upgrading the processing plant which can be profitably charged out to other miners. Once this is all up and running the project should be "wildly" profitable according to most estimates and the figures are based on low estimates of sales price $9300 Cu $3000 AU and $30 AG.

As you say a project once funded is worth a lot more ..... although this has yet to materialize!

Looking further ahead, CB has maintained that the project's real value will probably be clearer once the extension is drilled.

The plan is for a much bigger potential of 25ktpa . Once this is Jorc'd it would be a serious proposition for a major. Or maybe BZT could go at it with some JV partner. Some way off maybe three years or so but my main concern now is to get digging pronto.

Cyber

I queried Charles’s figures.in his recent appraisal of BZT. He did not take into account the Feb 25 assays which showed silver at 31g/t nor did he allow much for the gold @.42g/t.

By my calculations (chatgpt) this could bring the Cu eq upto 1.8%,depending on recovery rates. He was basing his figures on much lower 1.36% Cu eq.

He replied that he preferred to rely on original Jorc . He implied that as he had not included taxation or royalties this would not make much difference to the financial outcome.

I will be very interested to see his updated opinion is given the latest RNS's. I think we should be grateful for his analysis. Unkind to call him a paid ramper as IKy does. I appreciate Iky may have had an unhappy experience . Iky writes knowledgeably and his post about Grasberg on the GLR board was very illuminating. So in my view is entitled to the occasional grouse.

I read Archers substack reports and his monthly review .He generally digs down and bases his views on published sources and interviews with the CEOs.

He probably holds shares in BZT and is not any more impartial than the rest of us. Nonetheless he does crunch the numbers and probably helps to widen the shareholder base which is useful for us at the moment. I would be delighted to see other journalists covering BZT but I have not seen anybody else commenting.

Correction the aim is 25ktpa for the extension, 25mtpa would make us billionaires!

I doubt if the posters who crop up from time to time warning us to beware of Charles Archer, Colin Bird or posters like me etc own any shares in the companies they pretend to be interested in

. We all know the junior mining sector on AIM has been in the doldrums for the last few years, particularly the explorers but finally we are entering into a new supercycle where critical minerals like copper are going to be in demand.

BZT is about to become a producer and has secured an offtake prepayment deal with a major trading company, perhaps Glencore, which validates its very detailed plan laid out over 83 pages last week.

We now know what the near future holds and we have the funds the grades the plant and the equipment to embrace it. We have the prospect of many years producing $40m a year profit and this could easily grow into a 25mtpa copper operation, if exploration of the extension funded by the Open pits is successful as planned. Explorers lie Rambler , Atalaya, Greatland and Sandfire have all transformed from explorers to producers in recent years . Often with the help of finance from Off take prepayments from the likes of Glencore or Trafigura. These companies and their shareholders have seen huge uplifts in their share price . Of course most explorers do not make the jump from explorer to producer which is why so much cash is lost by investors but the main hurdle is finance and we have just cleared that . So would the whingers kindly bxxxxxr off the BZT board pls.

Death Spiral Smurfff has appeared as a special Halloween guest.

I presume he is referring to the 700K loan from Sanderson which is effectively a convertible instrument at .025. A lifeline at the time and will pay off handsomely for them as will anyone who invested at the low .020s only four months ago. So what!

We were grossly undervalued and I suspect the next 500% rise to .50 will take a little longer. The two latest RNS's have explained how we get to become a small producer 7kpta Cu with great margins and then onto the next stage hopefully of 25kpta in three to five years. The road is clear now. The off take agreement is brilliant as it validates our business and unlocks other non dilutive finance when required. Like banks, for working capital or vendor finance for equipment etc. The SP will rerate as we progress and the pesky warrants are flushed through. This week we have achieved a major milestone . Judging by other explorers who converted into producers a rerate can happen very quickly > as soon as a steady flow of concentrate is shipped via Walvis Bay this Mcap will be £80m at least. Colin has said he wants to start production as soon as possible . And so say all of us except maybe Kwak.

In previous posts I was accused of knowing CB's whereabouts suspiciously and should not be trusted. So Kwak can treat all I say with a large dose of salts,

However as we approach the critical transition I think we all ought to remember that our dear leader has spent a large part of his life working as mining engineer and managed a nickel copper mine in Northern Botswana for many years for Anglo American. He does straddle that divide between setting up a business and managing one and has a lot more energy than folk half his age. Lesser men would have ridden off into the sunset but he is still literally at the coalface.

I was as everyone who follows these posts knows a member of the mysterious BIG. Kwad has rumbled us. Yes we camp out in a tent in Colins back garden and record in a diary his every movement. And yes we are all heavily invested in BZT. Apart from several EIS investments in private companies I am now concentraitng on the mining sector and in particlular the copper mines of CB.

Just occasionally Colin crept out in the middle of the night and took his private plane to Namibia. but we soon tracked him down.

The opaque reference to a long dead racehorse was quite a big event at the time btw. Kwad brilliantly deciphered the obscure code by pointing out that CB likes horses. Not much gets past Kwad!

There have been many examples of companies which have transformed from explorers to producers, Some with spectacular results.

At the AGM we discussed the prospect of an outright sale of H & G and CB thought it best to develop the project and in the process unearth the value in the massive extension. This would create a much more valuable concern . We also discussed the issues involved in the transition and the skills required in the transition. CB said and I have already repeated this in a previous discussion post , that explorers need entrepreneurial skills whilst producers need managerial skills. Anyone who has been involved in establishing a business knows the difference. There is of course some overlap . CB is well aware of this ..Managerial skills can be hired quite easily and I am sure CB is lining up the right people . CB combines the two himself as he has an eye for a deal and is very good at grasping detail. Anyone who has met him or listened to his understanding of the complexities of the different projects he is in control of will appreciate this. I think the forthcoming RNS will demonstrate this.