Yes I think it's unfortunate that BT wants to put this downstream processing facility into play before Dikulushi & Kulumaziba produce the profits that'll propel the shareprice to the next level - this would mean less shares being issued to raise the $65mil+ for the SXEW leaching plant.
I also believe that to commit to this level of expenditure before the upcoming elections in the DRC that'll probably happen in Nov this year is unwise as the place might implode before or soon after these elections - any CEO should always ask themselves would I do this if it were my money?
But BT is a man in a hurry and he believes he won't get full value for the Kulumaziba operation if he can't start processing the concentrate onsite within twelve months of the start of production.
I don't think the current price is going to stop him from going ahead with this issue shortly - he's willing to offer it to all shareholders but if we don't take it up he's got plenty of overseas funds lined up to subscribe to the shortfall.
I believe the Annual Report & Notice of AGM must be released tomorrow as shareholders must get one month's notice of the AGM that is being held on May18.
Expecting interesting news early this week.
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