things are heating up, page-7

Discount to what simplesimone? The current share price? There is no way but up for BTR. If I wanted to buy more shares at a discount I'd buy them tomorrow. I bet you tomorrow's opening price will be a substantial discount to the price in a month. I've been working on that theory since the price started going north (buying what I could). BTR doesn't need cash so why issue more shares and dilute existing shareholder value? They have been very clever to date NOT to dilute shareholder value. The Glencore/Perkoa deal involved no external borrowing. We get to pay back the plant costs out of cashflow AFTER we take the first $5 million (presumably to fund running costs). The deal with BHP had them paying for everything or giving us back what they spent. Very clever and preserved our funds. The only reason BTR would need a substantial cash injection would be:
1. To buy something
2. To fund Mumbwa development.
I doubt they'll buy anything else while they are still exploring the assets we have and I doubt they'll take a risk on developing Mumbwa alone. Based on their track record to date they'll likely do a JV with similar low risk terms to the deal they've struck with Glencore over Perkoa. This is all me guessing and surmising here, but having watched BTR for a few years you get a feel for how the place is run.

Turning BTR into a billion dollar company doesn't mean issuing another 500 million shares at $2 each. It means convincing the market that the 120 million we have issued are worth $8 each. And I think they are.