The $40mil is for the power line construction to the mine. Tanzania has just constructed a new hydro plant that Blackrock will tap into for cheaper power. I guess the government didn't want to fork out the money for construction of the power line. The last hurdle is more equity from another player or a partner at the project level. This has been a major hurdle for them. I just read a post saying they are now 70% funded. I would presume after this current announcement it will only be a matter of time.
BKT Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
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