Ann: Investor Presentation-BGS.AX, page-123

gday guys and gals.

i went to the meeting.

firstly, great to meet a few of you, derosie, showmethemoney, malay and a couple others that dont post that i know watch.

so here are my interpretations and observations of todays General Meeting, please pull me up if i am out of line or if someone else in attendance has another opinion, so il shoot bullet points at random from what i took down.

- at Novemeber 2015 AGM, 4 people in attendance, this GM, about 15, so straight away, interest in BGS has increased to the tune that people interstate are willing to attend, take of that what you will but people IMO are watching this more closely.
- all resolutions passed, i voted against 3 of them, being Hugh and Wintons options and Merchant underwriting, but i got outswamped by votes.
- Sidi Haidara (resolution 11) is our Mali Manager, he is helping KJ out when he is not there. (just a random point for those wondering who he is), he got his options, which he should.
- Assays for Goulamina will be released to market in stages as the drilling campaign has taken a little longer than expected. JORC to to be released around Sept, after the final assay batches have been interpreted and released.
- The preparation of assays is done in Mali (crushing, pulverising, bagging etc), however the assaying is to be done in Perth. This is different to prior assays where its all been done in Mali. I believe KJ mentioned or alluded to the fact that he wanted it done in Perth to improve perceptions on what the assays are, basically IMO to increase confidence, which is good if we are fast tracking this thing and want MOU's etc.
- Domba hasnt started still.
- BGS strategy for Massigui has not changed (in terms of how we want to monetise the asset), even since the Li acquisition. Kevin appeared to be the most upbeat about Massigui that ive seen since beeing to 3 to 4 meetings before, so in contrast to Haplo, whilst you are comparing against other exploration companies, im comparing directly against my past BGS meeting experiences, KJ meetings, discussions and interactions with the board, but i do take value in your POV. Again, like derosie said, KJ reiterated the 'when not if' scenario with confidence. RG are running out very soon.
- KJ has looked at all the lithium projects available and believed he got the best one (Bougani). Blakala was indirectly brought up, by who i believe was haplo, but could be wrong, but BGS kept tight lipped on that and said they are still looking for more, but believed they snapped the best one.
- KJ started in Mali about 10 years ago, the people he was dealing in Mali back then, are actually now in power and we have great ties with, they helped us with the lithium. What a key asset this is, dont underestimate that relationship and what that can do IMO.
- Sprott still has about 4m options, of which Winton believed they will exercise. Interesting (for the good).
- I asked whether the Li width was underexpectation (being 30m), as i believed 50m is what we were after, KJ mentioned that the lodes to the west basically make the difference up, but he has no issues with the exploration target we have released and feels very comfortable to get there. If KJ is comfortable, i am more than comfortable. KJ's and the boards overall perception of this asset IMO was positive.
- The DD rig hasnt began yet, to be started within days, things just taking a little longer due to different contractor etc.
- No serious discussions have occurred yet regarding MOU's, but once assays are in im expecting this to significantly change as MOU's (non binding) have been agreed on way less.
- RG have been calling us lately regarding discussions, the Li acquisition has appeared to significantly strengthen our hand. My personal view is that in about 3 months we will hear something from RG as we will need to prepare our leases for mining and also allows RG enough time to exhause their mill (KJ mentioned that the chook farm is very much a good thing but somewhat a side show).

All in all, after having attended many BGS meetings, i got a positive feel out of the meeting, walking away happy and expecting that come November it will be a different story (although things are looking good already).

Haplo, interested to hear your view mate as i am in contrast to you. I am assuming you were sitting to the left of me near the concrete pillar? I was at the back right.

Good to meet all of you today, Malay, please email me your email, i realised i bailed without filling my share of the bill, and that is not me, so i want to make amends.

i will add further info when if it comes to me, but yep, i am holding tight, put it that way