I am well aware long term holders know all the BML/BCL/ now SI6 history, but as this goes back to 2015 and earlier, a bit of refresher history: we should remember that at the time BCL made the decision to move to mining the Maibele North deposit the second follow up Worley Parsons report was released but BCL never made it public, stating it to be "commercial in confidence", though they did confirm they would move to mining the deposits, but soon after were put into liquidation (probably a politically expedient move designed to defend against the Nornickel legal actions upcoming.)We remember too at the time the nickel price was much lower than now, and no accounting for cobalt was included in the JORC due the low cobalt price in 2015.
The relevant BML reports are all at the BML home page, but I quote the 23 Sept 2015 report for convenience..... Botswana Metals Limited REGISTERED OFFICE Suite 506, Level 5, 1 Princess Street Kew Vic Australia 3101 P: +61 3 9855 1885; F: +61 3 9855 2885 Email
[email protected] www.botswanametals.com.au ASX Code: BML TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 23 SEPTEMBER 2015 JOINT VENTURE COMMENCES FEASIBILITY STUDY AND EIA AT MAIBELE NORTH AIM IS TO LODGE MINING LICENCE APPLICATION BY DECEMBER 2015
" The Boards of Botswana Metals Limited and BCL Limited are pleased to announce that the Joint Venture has appointed Worley Parsons RSA (Pty) Ltd to perform a Feasibility Study on the Maibele North Project. AquaLogic has also been appointed to carry out an Environmental Impact Assessment (EIA) at the project. These appointments confirm the Joint Venture plan is to complete a feasibility study in order to lodge a mining licence application by end of December 2015. The Botswana Metals Board is extremely pleased with BCL’s decision to progress to Feasibility Studies at Maibele North. The aggressive drilling campaign is ongoing, with the objective of reclassifying the known resource from a JORC inferred status to a JORC indicated status to facilitate the Study. Feasibility and EIA studies are necessary requirements in the application for a mining licence with the Department of Mines in Botswana. The current inferred JORC resource is: At a 0.3% Ni cut-off the resource stands at: Tonnes (Mt) Ni (%) Cu (%) Pt (g/t) Pd (g/t) Rh (g/t) Ru (g/t) Au (g/t) 2.38 0.72 0.21 0.08 0.36 0.04 0.05 0.10 Recent step out drilling has proven that the Nickel, Copper and PGE mineralisation continues to the west, east and at depth and is still open in all of these directions, indicating great potential for future resource growth. BCL Limited has a mine and processing plant, including a smelter, just 50km to the southeast of Maibele North. This plant treats BCL’s Selebi Phikwe nickel mineralisation and will also treat the Maibele nickel mineralisation if it proves economic."
The second report I quote shows why SI6 has a good future if the BCL/KPMG/Nornickel situation can be sorted out so the JV position as it effects SI6 is clarified .Once again I acknowledge long termers know this, as do those newer holders who have done research, but the key is to remember SI6 is way more than a $4m $ market cap company.
O: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 27 JUNE 2016 BCL MOVES CLOSER TO MINING MAIBELE NORTH Ni+Cu+Co+PGEs DEPOSIT BFS TO COMMENCE IMMEDIATELY AND MINING LICENCE APPLICATION EXPECTED TO BE LODGED IN EARLY 2017.
"The Board of Botswana Metals Limited is pleased to announce that BCL has elected to proceed to a Bankable Feasibility Study (BFS) with the view of applying for a mining licence to mine Maibele North initially as an open pit and to continue further exploration and drilling to evaluate the potential for underground mining. The JV aim is to complete the BFS and lodge a mining licence and EIA study by early 2017. Following a JV meeting last week to review the results of a pre-feasibility study prepared by WorleyParsons, BCL has advised BML that it has surpassed the JV requirement to fund $4M of exploration and has elected to continue with the JV. BCL will formally notify BML of its intentions of funding a BFS to earn a 70% interest in three prospecting licences (PL 110/94, PL111/94 and PL54/98), which are the assets of the JV. BCL has now earned an initial 40% interest in the three PLs and by electing to fund the BFS will take management rights over the project development and earn 70% interest in the PLs after completing the BFS. The BFS will determine the optimum route to mining where the pre-feasibility study showed that an initial open pit at Maibele North would be the quickest and most cost effective route when compared to other options. The BFS will also evaluate in more detail the viability of underground mining. Subject to a favourable result from the BFS it is expected that mining could commence as early as 2017. The Board is pleased and excited with BCL’s decision to continue to a BFS which will place the company one step closer to mining the Maibele deposit. The pre-feasibility study report is commercial-in-confidence at this stage at BCL’s request in accordance with the farm-in joint venture agreement."
Just to keep the Bots assets of SI6 fresh in the mind at the same time as we look closer at Zim as well.
Have a nice day.
(20min delay)
