Ann: High Grade Depth Extensions at the Bougouni Lithium Project-BGS.AX, page-41

Another fantastic announcement:

- Confirms the extensions at depth, but these were released to the market in prior announcements, nothing unexpected there hence why a slight pullback. But lets be real, these intercepts are world class and have increased the proven size of Goulamina by 50% or more.

- The assays prove #1 pure spodumene grades in the world other than Greenbushes, but not >3% as the T+2's were hoping for, another reason for initial pullback.

- Western Zone results are on their way which will be even better than these results.

- JORC confirmed around the corner. I anticipate that this will provide the company with significant exposure and give less technical and risk adverse investors to take a position with confidence.

- Eastern States and European Roadshows underway will only bode well for company exposure leading to share price appreciation.


- Strong management team have addressed all shareholder concerns and are continuing with rapidly advancing the project with big commitments and progress towards expedited mine development:

♣ Digby Wells to get the ESIA underway - highly regarded company and has worked with BGS in the past.

♣ Como Engineers to undertake scoping study - the same company that conducted the DFS for PLS.

♣ "Independent Mining Consultants" - Minemark comprised of 3 well known HC contributors, led by Michael Langford, with strong connections to cathode manufacturers in China who are reported to be desperate for lithium supply. Expect some highly positive news in the near-term on that front possibly in the form of MOU's and or non-binding off-take agreements.

♣ CSA Global AND Cube Consulting to undertake independent resource estimation and preliminary mining study for Goulamina. I assume that this includes metallurgical test work to confirm and most likely exceed the initial results provided by CSA Global previously.



Confidence is returning to sector. The company with that big find is still rocketing and the one that released first assays last Friday despite having lower grades and much lower widths than what BGS has uncovered is following suit. I expect after this mornings shakeout, the price will rally to the 50's and beyond.

And don't forget that there is still news on the gold project development progress on its way.