My guess the drills will be on site by the time the AGM comes around, and more than like an announcement to that effect.
Im with you Michael, more than 1 drill surely, the total cost to drill 5,000 metres of RC/DD was $m1, we are drilling double that this time, but will there be more DD this time but the cost shouldn't be a factor as by my reckoning we have more than $8M now as some options have been converted.
Aptayl nailed it earlier as the wet season in Mali is from April (low rainfall) - October with the heaviest being August, there has been moderate to low rainfall for the past month, but the majority of the time is does rain it is from thunderstorms (which happen 48% of the time it rains)
I guess there will be some time for it to dry out (todays weather was a fine 32oC hence why the drill will be mobilised at the end of this month, my opinion as to why we aren't drilling now.
If (hypothetically speaking) the board member doesn't get re-elected, how long does it take to get a replacement?
Will this have a destabilising effect on the stock / share price?
Will instro's that could be possibly watching the stock view this as a negative versus their investment strategies / thesis?
Will the substantial share holder view it as a negative?
Will any of the other T20 holders view it as a negative?
Will any possible Chinese JV partners / investors see it as destabilising?
I haven't hidden the fact that I haven't been a fan of WW or HB as they have IMO only be there for listing requirements and up until now haven't (appeared) to have added any value to the company BUT that was in its prior state, the landscape has changed dramatically from pre Lithium acquisition.
As for the member up for re-election, I personally don't think it is wise to vote against, and yes I remember the Merchants deals and the Hartley / Merchant deal with the second being IMO more a slap in the face to share holders than the original under writing deal and the deal with the unconverted 15c options, but it was pointed out earlier that sometimes these are part of the initial under writing formula used in attracting the likes of Merchants to secure funds.
How would we have gone if it wasn't under written?
Would the take up of the rights issue been as successful?
Personally it was a total no brainer so did we really need an under writer?
Would the funds without an under writer have been enough to progress the Li project?
I would tell you it wouldn't have been with only 77.4% acceptances received for $1.92 million, with the last drill campaign taking up $1m of this we would of been floundering around with (what we had left) plus what was already in the kitty (my guesstimate $1.4m at best) to pay for what has progress to date, a Maiden JORC & consultants involved, scoping study in progress/ consultants to pay for same, consultants for EISA preliminary work. So at this point we would be sitting around and scratching our bums thinking, WOW that was great, now we need more cash because we have nought........ Yes the placements were necessary, did we get the best deal for the second one.......erm no as it was a (memory working overtime here) 17% discount to the 5 day VWAP for the period, but again, sometimes with cap in hand you need to make these deals to progress.
@Andyrooooooo I can't find Michael Bonds email address for sending questions for the AGM, so I have dropped you a line to your email.
As for resolutions 9 and 10, I can actually see both sides of why we should vote it in / or shouldn't vote it in, it is unfortunate that i can't make the AGM as I would of been able to gauge responses to no doubt a lot of questions in regards to this.
Finally, for long term holders of BGS, these price fluctuations are not a concern and as BB said earlier, I am the same as I sat and looked at BGS in my portfolio showing a deep red for a very long time. This isn't an overnight express train or rocket where after midnight on the next day you will be a millionaire. I feel for holders that came in on all the hype and are showing red, not advise but patience will be rewarded or a hell of a lot of people (some very knowledgeable ones included) have this all so very very wrong.
cheers
gltah
all the above is IMO
BGS Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
