At the risk of upsetting anybody for which I apologize in advance.....it has perplexed me for a long time what the management do to pass the time as there is most definitely not a great deal going on. The exploration budget figure for this quarter is discouragingly low, results are overdue, "August" was the aim, nothing yet on the DD progress, and the excellent Bots prospects continue to lie idle.
As Namvo said things look promising, and as big mahn said some time back and again now, copper, nickel (cobalt) are battery metals and as I have said maybe not so much new projects needed , but some activity on the ones we have got might stop the hibernation.....next thing we will hear it's the wet season.
Maybe talk with the liquidator on BCL about getting some action on that JV....unfortunately it seems he intends to keep the liq going as long as he possibly can. There are numerous good articles current in the Bots press, and I would link them for you, but sometimes am reluctant to post too much for fear of seeming to flog what the liquidator is turning into a dead horse. Each time the Bots govt make a statement (politically motivated or not) Dixon-Warren fires back that Selebi-Phikwe (BCL) is a "big old mine" and will be hugely costly. carries cleanup/environmental rehab costs, etc etc and continues to draw huge money but without progress as interested investors are being given only negativesby the liquidator.
The saga of Bots Govt setting up a compromise settlement with Norlisk needed to be approved by the liquidator who instead took to the courts in South Africa for no apparent gain or progress. Mmegi online said ("Councillors still rue the day of BCL closure", by Onalenna Kelebeile, Fri 7 Sept)....."a $45 Million offer made in March by the Botswana government for Tati and an understanding that the Nkomati deal would be void with no penalties or payments due to the Russian company fell through leaving the parties back where they started. It is understood that the transaction, which needed the approval of the BCL liquidator Nigel Warren-Dixon (sic) of KPMG in Botswana, failed to do so, with the argument that Norlisk was on shaky legal ground."
Another article worth reading was in Weekend Post which you can Google under "Nigel Dixon-Warren on BCL" by Tsaone Segaetsho, 14 August 18, covers the same topic. Another recent article makes much of the idea that BCL should never have been liquidated as BCL's Polaris strategy of bringing together new projects -particularly Copper and Nickel prospects which had been discovered well before but had been considered uneconomic back then, but which were more attractive now. One of these (not mentioned by name) was Maibele North which Dan Mahupela the BCL MD had already elected to progress to bankable feasibility (using Worley Parsons) to lead to open cut mining, perhaps to begin as early as late 2017. We need to remember that at that time nickel was late threes/early four cents. Now it is 5.7, and has been to 7 cents, only falling because of the trade posturing between US and China....same with copper. Doubtless these prices will rally when sanity prevails and concessions are made to allow those two countries to co-exist trade wise.
There is good cobalt at Maibele, Palladium, the price of which is very high, and the JORC figure is Ni 0.72%, Cu 0.21, and the orebody open in many directions. Then you have the excellent copper/silver results recently and historically from Airstrip and Dibete, and numerous other promising prospects.
As I said in my latest posting lets give a best level shot to Zim, by all means, but lets stop buggarizing around with the Bots projects and do something useful to get things moving.
As big mahn said SI6 is priced as just a shell, and he is dead right. Management need to realize some of it's real potential before everyone dies of old age.
Regards to all. Apologies for lengthy post.
SI6 Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
(20min delay)
