Obviously the seismic past and present is Good in Mali. Anyone who tells you differently is kidding themselfs.
Baraka has put itself in this spot and has no-one else to blame.
As soon as every investor wakes up and smells the coffee, you will understand that Baraka spent 10 million dollars on the La Punta Deal. Also then went and bought into a new field called the Chicuaco Block costing another 1.8 million dollars.
Money heading out of the coffers at a rate of knots, gee what about Mali (800k per Month) Best thing to do is lets sell this asset.
I have no problems with selling Mali now, as i have to face up to reality. The reality is Baraka is running out of Capital(Cash) The directors have changed there direction with the business plan, and now West Africa is no longer viable. No longer Viable to Baraka because the company no longer can afford the cost. THIS DOES NOT MEAN THAT MALI IS ANY LESS PROSPECTIVE. The HYDROCARBONS have not done a runner overnight! haha
One company which i think would jump at the chance to buy the Mali assets is CNPC China.
Lets pray that Baraka Management can sell the Mali assets for a reasonable price , anywhere between 5 to 10 million.
Its now time for management to stand up , we've all heard the Talk, now lets see them Walk the Walk!
crazy k
BKP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
