So finally we have got a permit, with the BowLeven Plc Etinde Exploitation Authorisation Update.
Perhaps now the management can move forward with monetising the asset now,
albeit there's a significant amount of stale bulls that will be looking to exit
at less of a loss. With BLVN's past, one hopes the official
paperwork does not get lost in translation! Perhaps the news flow will improve
now...
Zanaga Iron Ore (ZIOC): GLENcore have found a partner
Chinese to assist them with the development of the asset bringing the
“financing” to the table if GLEN excise their ZIOC excise their rights. This is
not surprising gossip in light of the 25% falls, perhaps with a caveat there’s
some desperate folks in psychologically too high. With the
potential return, unless improved in the DFS, one wonders why GLEN would be
bothering at some of the suggested prices. The deal is alleged to be with the
state back Ansteel Mining Company that intends to produce 50% of its own iron
ore for steel within 10 years, so makes more sense. Personally why GLEN would
need to pay above 26 pence a share is beyond me…at this stage. Over to GLEN and
more rumours to propel the price up and down with on off on off, wasn't there a
British Gas advert about "on and offable"?
Atb Fraser
Fraser- Im a day behind after yesterdays trip into the big smoke to have lunch with Paul M at The Don- a great day and Paul is a class act. Despite the other prize winners still awaiting their books etc :-))
ReplyDeleteRe BLVN- yes, a step in the right direction, albeit the mkt is probably anticipating good news now and will punish savagely if the ducks are not lined up pronto now.
Re ZIOC- Like you, the recent study didn't knock my socks off (sorry re these early morning metaphors) so why should GLEN push this forward with any haste at all given the v v low cost assets being thrown at the mkt at present. I guess the answer may be that they have a long term view and so can see what prod will be like in 2018/19- If they can, I would like some of what they have been drinking.... :-)
I see ZIOC as being v speculative at present.
Re CCE- the weird mixture that is CCE, who suffered a near death experience thanks to the dreaded carbon credits a few years ago has a real pearl in the 49% stake in REDT it seems, at least Jabil agree with me on that. Plus the cows still fart, which is all another part of their business model...
Re BKSA- v low stock here so the intermediaries have marked up and Ive bought based on what I think they will get for their two remaining Bulgarian properties- not for traders as Ive said before, but the end is nigh and they have £2.5m in the bank already.
Cheers. The Leggie
Fraser and all
ReplyDeleteRe Anglo Pacific- piece re their vanadium royalty deal here- they seem to think its worthwhile but on what basis?
http://minesite.com/news/anglo-pacific-supports-its-new-us-22-million-vanadium-royalty-deal-with-a-10-million-fundraising
Re BKSA- well the spread is an issue but it spiked today, hitting 1.7p at one point (with sells at 1.6p) and over 7m traded again. No doubt it will end the day unchanged but 3% traded today and not much in the way of free shares to trade here. The RNSs have probably been written and lined up, I suspect.
Cheers. The Leggie