@dunny29, I think you are missing one other vital point to lift...

@dunny29,

I think you are missing one other vital point to lift the shareprice : C) Gold.

While the question as to how much this could lift the share price is very much a grey area, I think now is certainly the time when KJ should be doing some serious extensional and depth drilling over at our Morila tenements.

Lets get a real handle on whats under that ground before hiving it off to Morila SA or splitting the company (@Reiner post above).

I believe there is a fairly substantial, possibly even company making gold deposit under those tenements. I also think that KJ has a fairly good idea of exactly what is there which is probably one of the reasons he has not yet proved it up by drilling.

Why is that you may ask. Well one reason would be lack of cash up until the arrival of Bougoni. The second is the apparent willingness to flog Bougoni for far less than its true worth. Third would be that if we proved up a company making gold resource, yet have no cash to develop it, we are sitting ducks for a lowball takeover offer.

Again, my thoughts only, but I believe there is enough gold there to justify a new plant on site as opposed to trucking tens of millions of tonnes of ore 25km or so to Morila. The sale of Bougoni for $107.5m would probably be within the ballpark of the cost of a new plant.

Another reason for a new plant could be the possibility of a JV partner other than the Morila SA agreement. Likely split could be the same as Morila SA, ie 40% BGS, 40% JV Partner, 20% Gvnt. If the JV partner proves to be Randgold, then that removes Anglo share from the equation. Bigger piece of the pie for all active participants.

So, lets maybe start thinking about how much the gold could potentially add value.

Personally I think the deal with Morila SA was a bad move. If they pull 400koz from Viper etc, then thats 400koz more to find towards a viable new plant assuming Koting is the elephant we hope.

So, plenty of options. Do we mine Bougoni and use the profits to develop gold? Do we sell Bougoni and develop gold? Do we sell gold to develop Bougoni and hope the market for lithium holds long enough for a return? Do we split the company?

Big questions and we need big answers before we see any significant appreciation in shareprice.