re: News: Blackthorn to have 100% of Mumbwa a... I haven't seen...

re: News: Blackthorn to have 100% of Mumbwa a... I haven't seen or heard anything about the concept study, I thought BHP was going to do the concept study if they went to phase 5? Prove me wrong, not 100% sure.

Glencore are taking over from here, so I wouldn't be surprised if we see Glencore take an equity chunk at the project level and btr cash balance rocket upwards.

I am more bullish on this stock now that BHP have left as the whole investment community is sure that Glencore are taking over and looks like things will move alot quicker once bhp hand over the portion.

Key Risks to Mumwba : Zambian Gov with the license renewal that is due in November this year.

Also, they noted in the report that they have to reduce the licensing area by 50% from 500km2 to 250 km2. I take it the Mushingashi area will be removed and it looks like all the focus will remain on Kitumba, please correct me if I am wrong?

Key upsides: Very large exploration upside through phase 5 drilling on Kitumba, lead / silver assay results due out soon on Perkoa, Burinko Faso gold exploration (7 tenements still waiting to be explored in a very hot region)

With sufficient cash on the balance sheet due to Glencore deal I see this as a major advantage for btr and no way we will see a rights issue to shareholders or a Private placement below Glencores price.

Still a no brainier at these levels!!! Just hurts when you have this baby on borrowed funds.