Today's article is relevant to SI6 where Airstrip and Dibete prospects have shown good consistent copper/silver drill results while Maibele has copper in the JORC though only 0.22% from memory. SI6 BOD need to keep open minded about the Bots prospects.....at the risk of being repetitive there is an election round the corner and some positive action on the BCL situation is a no brainer....it is highly unlikely the government will allow the liquidator carte blanche to go on dragging the process out indefinitely when the govt own 100% of BCL.
http://www.miningweekly.com/article...y-cheaper-to-construct-than-to-buy-2018-11-05The recent mmegi articles on the move by the South Africa mines minister to look into the Norilsk/BCL court action( while scoffed at by Norilsk as the liquidator continuing to waste time and money) is still of interest as if a decision on the legality of the original Norilsk -BCL contract was found to render the sale contract null and void, BCL could be freed of the need to pay Norilsk (possibly). Possibly because Norilsk have indicated they would not just roll over if the Sth. African minister came out against Norilsk, and that they would continue to fight and demand payment from BCL. Obviously the threat of having to pay out Norilsk (plus the overhanging environmental cleanup potential costs) will be one of the main deterrents for possible buyers of BCL and it's assets.
(a)
http://www.mmegi.bw/index.php?aid=78153&dir=2018/october/26MmegiBusinessGwede Mantashe weighs into BCL, Norilsk battle
South African mineral resources minister, Gwede Mantashe has reportedly requested BCL Mine and Norilsk Nickel to shelve their court battle over a US$271 million deal, and wait for his decision
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(b)
http://www.mmegi.bw/index.php?wid=1&sid=2
Mantashe won’t save you, Norilsk tells BCLFri 02 Nov 2018, 18:00 pm
MmegiBusiness"Russian metals giant, Norilsk Nickel says even if BCL secures a positive review from South Africa’s minerals minister, Gwede Mantashe, in its fight to avoid a multimill..."
To me the liquidation seems to be less simple than it could be (to put things mildly) and a lot of mention is made of how some of the govt want to see things speeded up....hardly surprising as it is costing them a poultice as it stands now....as mentioned earlier BCLI is still only in provisional liq (as far as I know) and that company holds the JV agreement with SI6. Our people might have to take note of Wasdan's earlier post and go beyond just waiting it out, and spend time and some money on talking turkey with govt., the liq. etc. and try to work towards a resolution to gain access to the JV to allow negotiations with possible partner(s). (maybe they already are, and if so good).
Best wishes all. (Just a wild thought too that the Zim decision sounded final, but wonder if the Mirrorplex alligned SI6 director (JL) was to make the obvious move to quite heavily discount the original buy in terms would that one come back on the table? Not that I want it to....just thinking out loud, as my original dislike of the deal was not the quality of the prospects, but the inflated buy in terms.
(Totally off the topic, but Zim will be a happy place today after their test team beat Bangladesh, their first win in three years or so....good for a population who have been doing most everything tough for quite a while.)
(20min delay)