report - today's bmb presentation at macquarie, page-14

Thats good about the expat - Togo situation. It was called the 'slave coast' and it seems not much has changed.

I have been swaying on the BMB company depending on nights thoughts. Had a buy order in yesterday at 10.5 cents, today for a short while a sell order at 10.5 cents. Ended up buying more PKO – more oil

Initially I was overwhelmed by Mike presentation. Probably more one sentence that there are Polished coking coal plants buying at $25 / ... and we can produce it at $3 ...
I dont know what was the measurement or maybe I was concentrating on the bird sitting in front of me.

Anyway it seems Polish Coal plant buy at $90 / tonne and BMB can produce it at $50 / tonne – probably lower.

I read last night Togo had a president for 38 years and then his son took over in 2005.
I dont like that sort of regime stuff. The army is too big and too strong. The proposed Togo phosphate project must have huge sovereign risk attached to it.

I do like the Polish project, Polish directors and their 16% share interest. I dont like the current high expoenditure, waiting for $15 million and opssible CR and collapse of the sp. I'd rather buy into BMB after it has gone a few rounds with Anthony Mundine.