lack of news

Well...it seems that in the interest into BTR is vanishing further which is not a surprise considering that no really exciting or positive news have hit the market in the last 2 weeks.

We know that drilling has started again at Kitumba. I guess that we can expect some results end of June.

PFS is underway and should be finalized end of July beginning of August I think. I guess this should be a major milestone and a clear indication for the future. Are all assumptions wrong? Can Kitumba be a profitable operation in the future? What is the expected NPV?

Well....I have taken last year scoping study. I have changed all the economics to the worse (e.g. lower avg copper price, higher costs for the set up of the mining operation, higher production cost etc.). Nevertheless I came to the result that overall Kitumba might deliver a net profit of A$ 200-300m per year (for the lifetime of the mine). Obviously this is not taken into account any dilution. It is clear that BTR will never be in the position to finance the project itself. A JV is very probably. The share of BTR at the end might be 100-150m maybe be more maybe less. Combined with Perkoa this figures in any case would support a substantial higher market cap and therefore also a higher SP the today. Obviously this is at least 50 % of pure speculation but as you know: no risk no fun.

I thing what at the moment really would help are positive news from Perkoa...at least till some good news from Kitumba will fly in (hopefully!).

At the end of the day the PFS will be absolutely decisive for the future of BTR.

Does somebody know if other broker have updated their recommendation in regard of BTR? If I remember correctly we have seen only one update from Pattersons still with a buy and a target price of A$ 1.50. Correct?