the true picture, page-15

Hey Batcher

I have lost more then only a lot (at least on the paper).

I share your view - at least partially - due to the fact that the overall sentiment is more then negative - I guess that a positive surprise is not completely impossible (with regard to Perkoa and also Kitumba).

Regarding Kitumba I think that the capex at least for the time being might be a show stopper (but I am not really sure).

On the other hand: It seems that the PFS last autumn has been jerry - rigged with a pressure catch somehow. I think it not worth the paper and I am waiting for the optimized PFS end of April.
Nevertheless I would bring forward the project and apply for the mining license in any case (just to have the option in the next years for what ever).

Meanwhile I have come to the conclusion that a substantial recovery of the SP can only come from the exploration side (be it around Perkoa or better around Kitumba) or from substantially higher metal prices. With regard to copper the mid term view is rather cloudy, with regard to zinc I am more optimistic (if next week we have still a part of a zinc mine).

Somehow I have the feeling that Mark Mitchell is capable of turn around BTR.