Gold price, page-1193

Hi All

I've just got home from the AGM. I'm going to speed type this post so apologies for spelling and grammar etc

I managed to catch up with @riskreward1 and @LifeUniEvery42 for coffee after the meeting where we were able to debrief and share our thoughts on BDR, which was really awesome.

This was the first time I had met Simon Jackson and also heard him speak. He comes across as a highly intelligent, highly competent, well mannered gentleman.

Some of the key points from his talk as follows :

- The tenement has historically only ever been drilled to any great degree for iron ore, gold discoveries have been ancillary to the search for iron ore
- They have thousands of core samples which have yet to be assayed for Gold, this means that they can effectively explore without even drilling.
- They are finding very high grade gold literally only 200 metres form the mill
- They are finding high grade gold in existing pits/reserves that is higher than previously thought, this means that in the near future they'll be mining higher grade gold simply by continuing with the existing mine plan.
- They have a 7 year mine life (runway) without having to do any further exploration, Simon commented that this ''runway'' was way longer than one would typically expect from a company that was in a turnaround period.
- Simon commented that the best way to maximize shareholder value was to get to the point where we're producing 400k to 600k ounces per year, and, to also have 2 to 3 fully operational projects. He alluded to this being the best way to grab the attention of the ''big boys''.
- He mentioned that many key personnel which he recruited from previous companies only came aboard around the beginning of February, but that we now have the right people with the right experience in all the right places.
- He gave a brief summary of the talent we have on board and it was absolutely mind blowing, I can't imagine having a better management team than the one we currently have.

Perhaps the most exciting part of the presentation was Simon comparing his previous mine ''Redback Mining'' to Beadell, he made mention of the fact that the Banded Iron Formation which is present at the current tenement was also present in the tenement at Redback, evidently the two mines would have occupied basically the same area hundreds of million years ago when the continents were joined.

Without putting words into Simon's mouth, I got the strong impression that they are expecting very big things on the exploration front.

Aside from that, after the meeting, myself, Risk and Life had a long discussion with Peter Holmes, who gave very generously of his time in answering all our questions.

I asked about the political risk, Peter mentioned that there is very low corruption in the levels of government with which they deal, the surrounding towns are acutely aware that BDR is a big employer to people in the region and that there is a strong social working relationship between all stakeholders to the extent that the locals are in strong support of BDR. I got the impression that despite the political situation in Brazil, there isn't much to worry about as far a BDR is concerned.

If I think of any further points, I'll post them.

Aside from that, I came away feeling more confident than ever that my investment is now being managed by highly confident people with proven track records who are very clearly managing it for the purposes of driving maximum shareholder value.

Cheers
Ivan