habemus papam...

...or in this case: habemus zinc ! Finally....

You remember that time when a certain Flory was telling the world how exciting this story is ? That Mumbwa might be a 2nd Olympic Dam and the zinc price was at US$ 4500 per ton?...and almost everbody was believing what he was saying....

I do remember very well! At that time the market cap was around half a billion A$ (no joke...500m!). The SP was somewhere around A$ 4.50 or so and the price targets somewhere at A$ 15+. Perkoa was more or less a big hole n the dirt without a effective drainage. Drilling progress under the lead of BHP was as fast as a east african wandering dune (probably with a Black & Decker drilling machine my little daughter would had drilled faster and more holes then BHP at that time).

Today the hole in the dirt in a few weeks will produce zinc, lead and silver. The zinc price is reasonably fine and a lot of people ask theirselfs why the zinc price is so high despite the huge stockpiles in the warehouses. We know the answer, because some very large zinc mines will close in the next 2-3 years and very probably then - maybe combined with a better global economy - the zinc price will be on the up. Worthless to mention that 1000 $ more per ton has a huuuuuge effect on the net profit.

What else do we have? Exactly...Mumbwa...Kitumba...Kazokhi...a lot of holes in the ground. At least a world class ressource (Kitumba) that even might be expanded (let's wait for the next drilling results) and...uuuppps....Kazoki as a "separate mineralised system"...mmhhh....a 2nd Kitumba, maybe different, maybe larger, smaller? And there is still this strong suspicion that besides Kitumba in the area one might find more depsosits similar to Kitumba (?) or maybe the monster is still in the ground? Waiting for discovery?

Ah...yes...besides that BTR, has just a great management. Still in the "understatement modus". Well we have seen some excitment a few months ago when the just announced some of the highest copper grades of the last 10 or 20 years. So far Scott has delivered and every move is very well thought-out. Appointment of a new chef geologist with a great track record a few days ago just to mention an example. I guess why....

So...as a very long time holder this is just an exciting journey and looking back I would say that the targeted market cap that was mentioned years ago (approx. 1.5 - 2 billion) is still in the cards.

I still stick to end of 2014 for a possible takeover and a substantially higher SP...but it might very well be that we have to wait 2 years more to be compensated for our patience.

That's it.