My mistake 4 lines up from bottom, not potential buyers but...

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Walter123

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19/06/17

11:57

Post #: 25353921
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Originally posted by Walter123 ↑

R and gs yes, as you say, at least there may be some movement......interesting situation as referring back to "Update re BCL Limited dated 13 Oct" last, point 1. "On 27 June 2016 the Company announced that, subject to formal documentation BCL could earn a 40% interest in .....(the Three PL's)".
2. At 13th Oct no formal advice had been received from BCL by BML.
3. The wording was "until a party has formally earned it's interest" BML as the 'solvent party' may terminate by giving notice (to BCL), according to the report of 13th Oct (don't think notice has been given yet by BML or??).
To me it's interesting (or am I just splitting hairs??) because as I recall the JV was on the basis BCL could earn 70% by doing the initial work (40%) and reaching 70% by paying for the bankable feasibility study which did not eventuate as BCL went into (provisional) liq.
Most know from bitter experiences the liquidation will go on forever - the Tati extension alone is another 6 months, the BCL holding company extension 3 months so it will be a long one unless, as gs says, BCL go out.
I wonder can/may we retain the 40%? I trust PV -as mentioned in today's report - pushes actively for this so as to enhance BML's attractiveness to potential buyers. I guess it will be up to KPMG, the Bots mineral holding company they are working with, the BCL lease holding outfit, and PV to sort it all out......hopefully sans any heavy legals.

Hopefully this is a start. Have a nice day all.

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My mistake 4 lines up from bottom, not potential buyers but potential new JV partners/backers for BML to get the ball rolling again. As gs says, basically it may be a start once the details are sorted out.
Rgds to all.

BML Price at posting: 0.1¢ Sentiment: Buy Disclosure: Held
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My mistake 4 lines up from bottom, not potential buyers but...

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