SI6 4.76% 2.2¢ si6 metals limited

what lies ahead for BML (update 3)

  1. 6,072 Posts.
    NO CHANGE except we are now 103 days to the end of the year and I'm calling BML a STRONG BUY. Time flies!

    1. Update on drilling results/progress (16/09/14 BML updates market and commits to further infill drilling due to encouraging thick sulphide intersections from current drill program)

    2. Positive Nickel Assays from first 8 holes. Possible secondary copper and silver mineralisation?

    3.. Confirmation of BML ore compatibility with BCL smelter.

    BCL’s General Manager, Mr Daniel Mahupela said: “The agreement with Botswana Metals is a strategic fit for BCL as we have an operating mine and a world-class smelting facility only 55 kilometres from Botswana Metals at Selebi Phikwe in Botswana. “The nickel-copper ore at Botswana Metals is comparable to the ore that has been mined from our Selebi Phikwe mine for over 50 years. The objective is to develop the joint venture ground to provide minable ore to the BCL smelter as part of our strategy to extend the stock feed for the smelter plant and complement the current mine supply,” Mr Mahupela said

    4. If 2 and 3 are not positive then focus may turn to Airstrip and Dibete. If positive, we are hoping for mini re-rate.

    5. Further/continual and progressive drilling results and assays.

    6. Possible further extension of zones at Maibele - west, east, north, south, down-dip.

    7. A JORC compliant resource of 7 million tonnes plus => 0.7% Ni. (not likely and possibly worthless if 2 and 3 is not positive)

    8.. Broker coverage when JORC compliant resource achieved (if achieved)

    9.. Announcement of drilling programs at Airstrip and Dibete (early 2015) and the 300m untested zone between Airstrip and Maibele that could increase strike to over 1.6km. Mega open-cut deposit in the making.

    10. BCL makes decision to continue to Bankable Feasibility Study.

    11. Further drilling and achievement of the1.6km plus strike increasing JORC resource dramatically.

    12. BML/BCL apply for mining licence on Maibele North.

    13. Capital raising/rights issue to fund drill program(s) on 100% owned BML tenements.

    14. International JV partnering enquiries.

    15. By this stage, BML is entitled to a 30% share of mining profits and discusses with BCL to take out development costs from the share of profits over a number of years enabling BML to still receive plenty of cash each quarter.

    16. Media speculation that BCL will buy out BML's 30% holding of Maibele North, Airstrip and Dibete (this could happen anywhere between points 7 and 17)

    17. Blue skies including possible capital return to shareholders from proceeds of BCL buyout of BML's 30% holding of Maibele North, Airstrip and Dibete if it were to occur due to excess cash (very forward looking statement)
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