Greetings all, I thought that it was time to give my next small contribution to this discussion, especially as I quoted from the AGM where they were hoping to be looking at "Construction Commencement"- actually "Mission Start date" May '21 was mentioned.
Given that May has passed and June is galloping along, I took the quite unusual step (for myself) and rang JdV. John had given me his card at the AGM and invited calls on relevant topics. Whilst I have been tempted previously, I have resisted as I am sure he's a busy guy. However, given the passing of May I felt emboldened.
JdV sounds optimistic but certainly - I'm not sure what word works here, maybe a little exasperated (?) - with the length and breadth of discussions that have been going on with the Tanz. Govt. There are many wheels turning in the on-going discussions, and with the added complication of the passing of the previous President, significant speed-humps continue to pop-up.
He said one thing that really caught my attention (and respect). JdV does not want to be known as "That Guy" who signs an agreement that will come to be scorned upon in 10 years time. He wants to get the right balance between the interests of the shareholders and the Tanz. people, so that we can all benefit from what we are about to do over there. He was quite clear on this, and shows this man's ethics, and they are to be respected. Given that Africa has an awful history of violence and exploitation by "The West" over the past few centuries, it is only right and proper that the citizens of Tanz. get the appropriate level benefit from their resources, whilst rewarding shareholder of the company that are allowed to develop this resource on their land. Striking the right balance is the devil in the detail, and where I suspect where JdV and the board are spending a lot of their time.
With all of this, we are obviously in a holding pattern for the time being. How long? Well that is the million dollar question, and JvD did not want to give a date, purely because they are still in deep discussions and remain a little uncertain (my words, not his). Adding support to our case is the solid POSCO agreements, that must surely give comfort to the Tanz. Govt. that BKT can make this thing work.
I would suggest - reading between the lines and not wishing to be seen to be quoting anyone - that we should expect an announcement within the next 6 months. Given that we operate in an ASX-mandated "Continual Exposure Environment", is it too far from the mark to see the possibility of a good news announcement at the next AGM?
Thanks for taking the time to talk to me John!
BKT Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
