A Positive post for BJ. BJ:
I’ll attempt a positive post although it will have to be a stretch of imagination whilst wearing rose-coloured glasses.
1. Cantex through its subsiduary CMMY has good relations with the government of Yemen via its Yemen Mineral Resources and Geological Survey Corporation. The Prospecting Permit and supplemental agreement Exploration Licence for the land concession package that CMMY has negotiated has not significantly changed.We perhaps will learn more on this after November 6,2001.
2. Follow up work on the Yemen concession is continuing via CMMY despite world affairs being as they are.
3. The PP although not yet closed is at least partially funded – what percentage I do not know. Management would like to see this complete and has apparently put in some of its own money.
4. Potential JV partners are still interested although metal markets and world affairs certainly have clouded the situation. All is not totally lost, one has to only look at the recently held 8th General Conference on Minerals conducted in Sana’a by the Arab Agency for Industrial Development to see that Yemeni and Arab groups are keen on attracting foreign capital for the development of Yemeni mineral potential.
5.Buying more at 5 or 6 cents - excellent value for those with fortitude.IMO.
P10