Q: Is exposure to Mali reason to sell now?
5i Research Answer:
Not in and of itself. Mali has risks, certainly, but we think these are already reflected in the very low valuation of BTO. It is certainly not our favourite gold company, and has had some operating and other issues this year. A turnaround is always a possibility, and its 6% dividend is attractive for those willing to bet on a recovery. We would not give it a strong endorsement overall but would not sell just because of country exposure.