Just a quick few lines on yesterday's presentation by BT. Have tried to be as accurate as possible. ===== Bill Turner said nothing really new of course, but few comments suggest that things are dropping into place very nicely.
* Expecting political risk insurance greenlight for Stage II from arm of world bank by end of June * Evaluation of Stage II should be in soon * Stage II to be fully debt funded by Rand on much more generous terms than for stage I (ie, LIBOR + 2.5% - NO toll per pound as with stage I) * AVL expect to make a decision regarding stage II in approximately 6 weeks (mmm, few others have been saying exact same thing) * Current drilling under resource expected to increase open cut from 120 metres to 140 metres.
Overall, very satisfying presentation from a shareholders point of view. Future certainly looks very bright.
Bill said he will be in Sydney and Melbourne over the next few days doing other presentations for brokers.