Ann: Mumbwa JV Project - Remaining Phase 4 Result, page-16

re: Ann: Mumbwa JV Project - Remaining Phase ... For what its worth, I think Glencore would be very happy NOT to share its operations with BTR and I also think BHP do not wish to share with BTR either.
I think Glencore are protecting their interests from BHP and also are invested for the further exploration.
No doubt BTR are in a very unique and fortunate position . They have 2 behemoth companies as jv partners, a solid zinc mining business about to commence production and be managed by Glencore.
There is enormous potential with further exploration in the area.
Although we dont know how long it may take to play out, Mumbwa is an enormous asset and will eventually be worth alot.
The gold potential in the area is excellent and the results thus far have been good.

Aside from a GFC 2 coming along as someone else previously mentioned, this is a no brainer!!! Should be well over 80c already and that is just based on its assets and cash, not even factoring in potential future earnings or potential exploration value.

This is shaping up to be a rock solid business with a solid cash position as well, with zero debt and enormous potential from every direction ahead.

WINNING situation any way you look at it!