I think a take over of Perkoa by Glencore is cleary the worst case scenario here and to be honest I also think that this might be the overarching plan by Glencore:
Keep Perkoa (and the SP) "depressed" by delays and uncertainity with the aim to take over then for a few cents with the aim to benefit of the better outlook in zinc price.
BTR left alone with Mumbwa would mean: pure explorer again, substantial downside risk, completely depending on exploratin results and copper price (profitability Kitumba!).
As mentioned: this is "my" worst case scenario.
I think a take over of Perkoa by Glencore is cleary the worst...
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