Good discussion lads. What is important to me is what has changed from previous versions of next jan, next jun etc? When i met with the company at the offices they were extremely frustrated by the delays which seem to be around the election coming up as much as the new mining rules and royalties etc. It seems that everyone is behind the project from all the locals to the catholic church and the world bank. So what has changed? 1. The companies estimates have got shorter. Eg now October. which is literally 1-2 months away. 2. Tim has been to Madagascar for meetings. I dont believe that any Base employee has been allowed into madagascar in 3 years. 3. Tim is now using phrases like...."Discussions with the Government of Madagascar on the fiscal terms applicable to the project are now at an advanced stage, with a clear pathway for agreement to be reached, and the suspension of on-ground-activities lifted." 4. Base is looking to do a deal outside the mining code rather than waiting on the mining code review. 5. They have held back a bit of profit from the divvy this year. i expected 4.5 - 5c. That means they are anticipating spending between now and the next dividend.
having said that i could be wrong and the people of southern madagascar will continue to eat bugs and clay.
cheers contra
BSE Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
