Given the relatively large exploration areas SI6 hold in Bots and the good results drilled so far the linked Sprott/Rule interview is very relevant. 15/16 mins but worth listening to, even if time is pressing. In fact our SI6 BOD could do worse than lend an ear to it.
I feel the fact that the ministry put the JV area renewals on hold so the permits will not expire during the snail's pace N D-W liquidation might indicate they (govt) have interest in keeping things open (though who knows?).
To get some clarity on where things are going, as suggested by Wasdan our directors might (I do realize it is easy for me to say this compared to having to do it) use the resources they have to lean on the liquidator to see if the SI6 areas could be set free of the liquidation so they can be dealt with to see if a new party can be attracted...a new JV? It's relevant to remember that (as far as I know) the JV tenements are actually held by BCLInvestments, not by BCL itself, and BCLI are only in provisional liq, unlike BCL themselves who are in full liquidation. The legal people would know how things stand and mine is only speculation, but nothing ventured, nothing gained, as some say. Perhaps they could facilitate things by converting the BCL earned interest into a potential smelter royalty or other.
It is obvious to blind freddy's dog that the liquidation is being held on a tight rein and it will be stretched out as long as suits the liq. At the end of the day the Govt of Bots own BCL pretty much lock stock and barrel, and an election is just around the corner, with pre- election maneuvering/posturing already well under way, so it seems like a fertile field for pollies to plough if they can get the BCL situation to a stage where they can claim credit for "saving Selebi Phikwe" etc. etc.
By Tekoa Da Silva
I had the chance to sit down once again with Rick Rule, Chairman of Sprott U.S. Holdings. It was a fascinating discussion, as Rule discussed resource speculation in Africa and his experience participating in world-class deposit discoveries made over the last few decades.
“As a place to [discover] world-class deposits, I would suggest to you that Africa and Central Asia are the last great frontiers [for resource exploration]” explained Rule. “Political and social challenges have kept them from being as thoroughly explored as Western nations.”
“The part of resource speculation that interests me is exploration,” Rule continued. “And the subset of explorers that interests me most are the prospect generators — people who use their investment and commercial acumen (frankly their courage), to explore virgin or semi-virgin terrain, and then bring in joint venture partners to drill. Unfortunately, there aren’t very many prospect generators in Africa, so the universe that I have to explore is fairly small.”
Rule further explained that combining high-quality exploration efforts with well-endowed and underexplored geological terrains, makes truly historic discoveries possible.
“I’ve been fortunate in my life to participate in a few [world class African resource discoveries],” said Rule. “The Africa Oil Corp. discovery of a billion barrels of oil in Northern Kenya, [was] previously an [unexplored] place. Paladin [Energy]’s uranium discoveries in Namibia and Malawi — which ran the stock from 10 cents to 10 dollars — [is] a very fond memory as you might imagine. [Other examples include,] Tenke Mining’s tremendous [copper] success in the Congo [and] Moto Gold’s 10 million oz. gold success at Kibali.”
“[So] my outlook for Africa is very bright, but that isn’t to suggest there aren’t great challenges,” he warned.
One of the perceived challenges of investing in Africa is political risk. Rule indicated that political risk represents “Actions taken by government [that] deprive me of legitimately generated wealth. [But] by that standard, of course, the jurisdiction that I live in, California, is probably one of the riskiest jurisdictions in the world. It’s just that we look at risk differently … risks that look like us, risks that we understand, risks that we participate in creating are regarded as somehow less venal. People will hate to hear this, but I love to say it — money stolen by white people, [speaking] English, according to the rule of law, is just as gone as money that’s stolen more efficiently by traditional methods.”
While Western resource markets may present greater political risk, “Western institutional investors (primarily generalists) have [ironically] painted Africa as a do-not-go[-to] place,” Rule added.
“[But] I think the opportunities are larger than the risks, if you are willing to take those risks,” Rule concluded. “[And] what appeals to me are the exploration companies … the companies that can take exploration concepts (and social risk) … and discover very large deposits.”
To watch the full video interview with Rick Rule, Chairman of Sprott U.S. Holdings, click here.
There have also been two recent articles in mmegi which make numerous points which make it clear to me the liquidator has no intention of speeding the process along at all. I toyed with the idea of posting about these two but so far have not.
Probably mmegi has weekend blues but I cannot see the links on mmegi right now, unfortunately. Very contradictory and negative sounding statements therein including that 182 applicants have expressed interest in BCL and or Tati, yet all have been rejected as not being up to scratch in one way or another.
Only 2 presently extant but are to be given anything up to 18 month to look over the carcasses, after which if they are found to be worthy offers to them (I would have thought the other way round ) would be made by the liq. BCL may be shut down or left open for resuscitation as BCL thought to be worth something in the future due to supply and demand for Cu/Ni as existing mines run out and new discoveries falter. This approach does not fill me with optimism that if SI6 management remains un proactive regarding the JJ any positive outcome from the liq will ensue, now or later.
All this is my personal opinion based only on what I read....no expertise is pretended, but I can still see without my glasses.
Have a nice weekend. When I re-find the two mmegi articles referred to I will do my best to remember to post the links.
SI6 Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
(20min delay)