When I reread from the A-Cap reissued prospectus for the BML hive off in 06/ 07 and go to the sections on Dibete and Airport, then read the drilling reports/results, in particular 2012 and earlier I just wonder why BML are finding the going so tough, given the quality 0f the intersections,, the widths, the bornite (in particular because bornite if I remember correctly is about 60% copper as against 37 0r something like that for chalcopyrite, and the tie ins of the various prospects (including gold, palladium, etc) and now the analogy between the big resource referred to in Sth Africa which may have similarities to Airport and Dibete which are so close to Maibele, and which was a 40M tonne resource, and the possibility many of the BML prospects in copper may be weathered indicators of nickel, and some of which have paladium and other PGMs lending support to these analogies, I must say I am perplexed at the malaise of the BML share price, given it has fallen continuously since I first bought in, many moons/years ago.
I was disappointed the last email I sent Pat when he failed to reply (basically my seeking the reasoning behind the lack of movement on securing access to the BML/BCL Advisian/WP PFS report on Maibele or at least some comment on why still nothing is forthcoming ( given I realize dealing with the liquidator can not be easy, but still?) .
I have fought to keep an open mind on all this saga, and feel for Pat when some of the comments are pretty insulting, but all I ask is that the best possible be done.
For arguments sake -purely as an academic exercise - if an investor began accumulating at say 6 cents and built up say 4.8 M holding, with the upcoming consolidation that holding will become 400,000 which I feel results in a huge reduction in possible leverage.
Ce la vie, but lets trust the current .1 c SP becomes 1.2 after and grows from there, otherwise things are not looking good for any of us, and I feel for those who have invested heavily, of whom there will be many....I saw one earlier holding 20m., and there will be others with more.
An interesting article today about Coal India Limited (CIL) /KPMG, the latter having been tasked with finding Ni Cu (and other) projects for CIL in Africa.....not my choice for a JV partner on Maibele, but may be some synergies there, given KPMG..... http://www.miningweekly.com/article...l-india-radar-as-miner-diversifies-2017-09-18
"KOLKATA (miningweekly.com) – Having decided to evolve into a diversified resource major from a pure play coal miner, CoalIndia Limited (CIL) has identified copper and nickel mines in Africa for its maiden overseas foray into noncoal minerals. KPMG has been appointed to prepare the roadmap that will see CIL emerge as a diversified mining company by 2030, following a Rio Tinto, Vale or BHP-type model. CIL will retain coal as a core business.
Officials have confirmed that CIL has started assessments of copper and nickel assets in Africa, but they were not willing to divulge details of the mines, citing confidentiality clauses.
“Mining is our strength. Because of our expertise in mining, CIL will be very successful in whatever mining ventures we undertake in the future,” CIL interim chairperson and MD Gopal Singhsaid in a statement."
Bit of an unnecessary statement by their MD I'd have thought, but interesting if they are after projects in Africa through KPMG.
Apologies for a long one, and regards to all
BML Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held
