I've read an article online a couple of times, translated from Vietnamese, which reads like them taking the piss out of BSX for having such grandiose plans to build a mine and refinery but not having anywhere near the balance sheet to achieve it. I guess they're scratching their heads and asking with what? If we had started mining then perhaps we could be taken more seriously because then with the cash received from operations we could progress with construction but we don't earn a cent, not one. I don't think Vietnam would have minded if we had begun the process of extraction in order to build the mine and refinery, it could have made them more confident that we were serious and capable. There was a small tax to pay but I have a feeling that a deferral may have been negotiable in order to build the refinery they do in fact want to see. Now the solution appears very clear, we need to toll process Australian concentrate in Vietnam in order to generate cashflow to build the mine and pay back the loans the Australian Government will organise for us via Export Finance Australia and the Critical Minerals Fund to build the refinery. The Ambassador could organise a phone call between our respective leaders which might help to facilitate the permitting process to build the refinery and we can go into production next year as always planned, 2025. Vietnam gains their refinery and a new industry with all of the taxes the supply chains involve, import and export duties, employment opportunities for locals and a plant to process their own minerals in once mining applications have been approved. A monkey could organise that.
BSX Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
