BMG is a private company, but currently have bugger all money because (as I understand it) the MD Hillam "borrowed" some money from the company for his personal use. I believe this matter is in court.
The big money behind BMG is from Chinese investors (forget the name of their company). The Chinese definitely want the ore and are looking very long term in this regard, but won't be giving more money to BMG while Hillam is still there.
IMO BMG is a non-issue for CAP's long term future, because the Chinese are the ones with the money and BMG is just a vehicle. It's probable that the Chinese will take over the JV through another vehicle, possibly Conglin's company (who recently joined CAP's board), but they have to wait until Hillam defaults on the JV (11-ish months?). Or perhaps if Hillam comes good and pays what he owes the JV with BMG could continue (unlikely).
Hillam is the fly in the ointment for the short term, and is holding things up regarding the Hawsons Project. There are many well-informed posts on this issue by HC sleuths if you look back through the threads.
Although this is CAP's most advanced project, it's not their only project. There are many other projects on the go, Hughenden, Macdougalls, there's the tin, tungsten, JV gold, nickel..... the list goes on DYOR, as I said plenty of info in past HC threads.
Best of luck holders.
CAP Price at posting:
36.6¢ Sentiment: Buy Disclosure: Held
