Ann: Update on Suspension of Securities, page-34

Consolation in all this is that the resource in ground remains a great prospect. The market will at times cloud facts due to other goings on. No matter what amount of human fiddling or what errs management have made in the past the resource stays put, remains of significant value and will stay so if the lithium boom continues unabated.

It will be up to the current/future management to show their commitment and skill to carry the company forward to a better future. A clean up operation underway that had to happen.

To give holders some insight to my experience on suspended stocks, I recall when GXY had multiple suspensions while they restructured Aug13 Feb14 Apr14 Feb15. They were tough times no doubt. There were days I tried not to think about it. It changed my investing in a way and made me re-think the benefits of diversification no matter how something presented itself or was presented to me as a ‘sure thing’, “de-risked”, or “now producing”. It pays to have some healthy scepticism when investing. Investing by nature always has some inherent risk that things can go pear shaped and when you least expect it.

It is now part of ASX folklore that GXY came back from the depths of those days to post a big rebound, gains of ~2000%. Management had the ability to restructure and pull the company through with the asset and resource base they held. That was a big survival battle of debt and going concern/solvency, there were also governance issues/free shares, but in BGS case it does not at this stage seem as grim on the debt and solvency impact. That’s my precedent of knowing light at end of the tunnel is possible, getting back on the straight and narrow has been done before and can be done subject to good management and BGS can start winning as a company again.

The reality is unexpected corporate events can sadly wipe many a holder hopes and wallets. It takes guts to stay the course in more challenging times and 2017 has seen a fair slice of Murphy’s Law on management and governance. With major board changes the odds are increasing IMO that things should improve. Certain management deficiencies have been exposed and people have been moved on. No pain no gain.

Legal actions may have some recourse but can be slow and adverse to sentiment eg KDR, Tamaya resources action related to events 10 year ago. Best hope for quick resolution is for parties to come clean admit mistakes and settle out of court.

Best to prepare mentally on the possibilities for what is to come. Make decisions based on your own plans. A backup plan or two I find is often handy. The stockmarket and particularly junior miner sector often throws tangents curveballs. We try our best not to strike out. It’s a hard game at times. They say 90% lose, 10% win. I say be prepared for the possibilities that will come.

“It's not what happens to you, but how you react to it that matters.” Epictetus