BCL saga, page-26

This post comes with apologies as it will be lengthy as it covers two aspects. Parlay may be interested, but we must remember the articles are only two correspondents' views without concrete substantiation (or otherwise) yet.
This link https://www.latestafricanews.com/bw/botswana/2017/03/who-exactly-is-selling-bcl/ is a thought prevoking article dated March 11, 2017 (hot off the press) in "Latest Africa News", titled "Who exactly is selling BCL", which probably asks more questions than it answers, but at the same time it shows the prov liquidator (N D-Warren) seems ambiguous (to some degree) in denying he ever said BCL was unviable ( from my reading/memory it seems clear he did ), whereas now he is reported as saying it is a low grade and "very challenging business".

Moving to The Patriot on Sunday there is a lengthy and interesting article dated 7 March by Phillimon Mmeso "Why EIH (the Emirates House Group) wants BCL" (link: http://www.thepatriot.co.bw/news/item/3817-why-ieh-wants-bcl.html), which should be read. This article puts forward the proposition that "while on the surface the Arabs are seen to be interested in opening and operating both the BCL and Tati Nickel Mines, deeply they have been lured by Polaris 11 strategy". He notes though some people blame the Polaris concept for causing the fall of BCL, "those close to the mine have revealed that the strategy is BCL (sic.) gateway to diversification".
The article goes on to outline Polaris aims then asserts that the Arabs will adopt Polaris because they have "already shown interest in buying the 50% BCL stake at Nkomati....." (personally I am not sure it is "BCL stake" as I don't think it was paid for, was it?, but perhaps they may settle with Norlisk??).

This is where the article is most interesting as it is one of the very few times in this whole saga where Maibele-North/BML are mentioned/acknowledged directly. Mmeso continues: "The strategy .....saw BCL in 2014 - 2015 embarking on exploration of nickel resources at Maibele near Tshokwe village. When the mine (Selebi/BCL) was put under temporary liquidation they had already applied for a mining licence to mine Maibele North as an open pit (which we all know already, of course, but subject to the WP bankable feas. study) and to continue exploration and drilling to evaluate the potential for underground mining. (He continues) BCL, which was in joint venture with Botswana Metals Ltd., had three prospecting licences at Maibele (PL 110/94, PL 111/94, and PL 54/98). Exploration resulted in three discoveries of Nickel-Copper, and Copper-Silver mineralisation known as Airstrip Copper".".....the Maibele North prospect has an in situ value of P 1.9 billion. (this value higher now of course with cobalt rises plus Ni-Cu price gains). The mining was to start this year, and the EIH has their work cut out regarding the production as the licence to mine is said (according to this writer Mmeso......could be true or??) to have already been given".
The article then goes on to outline the other attractive parts of Polaris 11 including the iron ore (Molopo) prospects, Moeng manganese , and that EIH is thought to be looking at steel production using Pula Steel (of which BCL is -I believe_ a shareholder, and who owe BCL money). Also coal, diamond prospects. The article then concludes by listing various moves from UAE companies into Africa generally, partly as a way to diversify from oil.

I again emphasize I am only outlining these views and reiterate they are journalists comments and may or may not be accurate.