For those that are worries about the South African Government seizing or compulsorily acquiring the Boikarabelo asset, I remember having a similar conversation with Paul Jury about five years ago. He said that RES had structured the ownership of Boikarabelo such that it was owned by a Botswana-based subsidiary company which was in turn owned by RES (and I guess partly owned by the Black Economic Empowerment partner (Fairy Wing Trading from memory??)). The effect of this was that it would be extremely politically unpalatable for the SA Govt to seize Boikarabelo as it would in effect be seizing it from a Botswana company which would have all kinds of implications for the relationship between these neighbouring countries. Pitman or someone more in the know than myself might be able to explain this better.
Anyway, around a decade since my original investment the finance approval looks to be very close. Geez I frickin' well hope so!! Cheers all.
RES Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held