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Who is going to the AGM?, page-41

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02/06/19

20:00

Post #: 38869571
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Originally posted by 1for1: ↑

Mali Lithiums single biggest issue (exactly like Kodal) is being that the resource is in Mali.

For if it were not so and our tenements were in WA, we would have a MC of over 2 billion just based on the resource and may be at the final stages of building a processing plant.

Even Kodal, if in California -- may get mined, as it stands in Mali -- the odds may be stacked againest them (despite having lowish cost feasible transport -- unlike our DRC African peer that still needs ALL the Thunderbirds.)

I have maintained since the start that Kodal has littile to nothing to off BGS / Mali Lithium but note many here seem to have come around to the idea that we may be able to team up.. i still dont see serious synergy there but definitely i can see Kodal following closely in our footsteps picking up some scraps (like those prospective tenements we didnt need to mine..

Our key issue is our resourse is trapped in Mali, we cannot relocate it -- so we are at the Mercy of Mali government and officials.

The biggest reason why both BGS and KOD have been getting slaughtered with investors is because we are in Mali and need to deal with Mali Beauracrats.

That is awesome that Mrs Lorenta and the rest of Mali (supposidley) want to advance Mali as a mining juristrication and now as a Lithium producing nation.... trouble is judging them by their fruits -- delays, unknowns, possible corruption in the tenement application process.. i just think that all along Mali have had the power to speed up or slow down these projects on a whim.

Part of me 6 month ago wanted to freeze all spend in Mali and demand a bit of 50/50 as we are ploughing millions of Aussie dollars into the economy and from my point of view have got a really really average deal to date.

Kevin must be or should be highly embarrassed that after years and years and millions of dollars of drilling with greart result as a well respected Geologist -- even with Gold at $1900 -- ALL we can muster is $2M per year in Royalties.... IF we never got the Lithium tenement how embarrassing would this be for him, the long awaited time everyone waited for just to get a pathetic 2% ..

How would a 10M MC company go on i wonder as a gold producer getting a tiny royalty, would we bother to captial raise milllions to explore to get thrown another bone with no meat on it.

Where i am standing, Mali itself is the problem -- seems like getting anything close to a fair deal in Mali is the problem. Maybe getting 100Million for our 2B resource was about as good as we could of hoped for in such a unfair country and Kevin and the rest knew it.

Id love Mali to prove me wrong but it seems apparent they are the problem... its a huge problem for BGS as our mine is located there and we need to play ball -- but why should we give everything and receive nothing. Mali needs to up there game else they wont be getting Lithium miners in there country.

Investment money is fickle.. Mali wont get infinite chances here, if Kodal goes under .. i doubt anyone will bother spending to prove up such a marginal resource...

10 M Spent already on BGS only for us to be waiting for a licence that the ASX never believes will be mined. Send a sign Mali -- you need to be the change in your country you want to see... The rest of the world needs to be convinced they are not wasting there time.. ASX investors are extremely sceptical, the latest mining jurisdiction ranks show Mali falling back... i agree..

Compared to WA they have:

- Extremely slow
- Little to no transparency
- Unproven in terms of being a good government that works favourably with Lithium companies
- Issues with Randgold (seem to work them out, i wonder how a small operation will fear against a government like this without checks and balances)
- Possibly biased (corrupt Mining Application / tendering process?)
- Different practices to the West (religions / superstitions)

Mali has the power to make or break BGS ... at the moment it is obviously broken.. but just through the looking glass.. it may just be the looking glass (and BGS is absolutely fine and could be $2 SP with little more than a sentiment shift!)

Expand

Well... on that last point, we will receive our mining permit in less than a month now, which is also when Mali will take the 10% of the project. I seem to remember some of the 'hold up' when we had our EISA application being processed may have been a lack of info supplied by our contractor/BGS? Anyhow, in a few weeks we will be fully permitted - so no more waiting on that front.

About Li outfits in W.A. - its definitely true that investors like them. But if we take AVZ as an example, look at the recent appreciation of their SP. So I'm not convinced we have a problem with our project being in Mali.

' Unproven in terms of being a good government that works favourably with Lithium companies' - That does not seem to be accurate, just because Mali will make a lot of money from our project (alone), over many years.

As we know, Mali is one of the largest producers of gold in Africa - So they do work with a lot of mining companies quite well.

We did seem to lose about a year under previous board ?

BGS Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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