RE:BAJ. Construction is progressing,
Financing is in place (only unknown,---will there be additional resources needed to get the mine into production?)
My guess, is more financing will be required---but options such as: 1) using a partial plant to deliver cash to supplement the build-out of the remaining parts of the plant or 2) process the tailing first to minimize the cost of the underground build-out etc
It would be foolish to make investment decisions related to SRK not completing the updated NI 43-101 technical report.
Rational:
1) The report (draft) served it purpose---financing was provided, the "K" investors have the information needed to make decisions
2) The report was not for the common shareholder
3) The differences of opinion mentioned---could be positive for the shareholders---such as processing the tailings first, bringing manganese both the production and sale of manganese and use of tailings, could lower production costs in terms of copper per pound even more = higher profits!
I think most investors are "shell shocked"----holding, waiting, but when the light turns---the waiting herd will move!
I've looked at almost every angle---it's hard to imagine loosing at these prices---even with further dilution...the market price for a fully functional mine should carry a nice increase (from today's market prices).
Remember---Market price can stray from the intrinsic value, often for long periods---therefore a low market price does not necessarily indicate no future intrinsic value.