Current SP and any other thoughts, page-533

Hi Woody Spoon,

Yes, you are of course correct.

With that in mind, I've just spent some time during the last week reading back through the HC posts for PLS over that period (July/Aug 2015 - when their SP was ~11c to 15c), a period which we (BGS) are potentially mirroring now at this point in our evolution.

The language and details throughout the threads provide a remarkable sense of de ja vu, with comments along the lines of 'why is good news sending SP down', 'can't believe the price isn't 50/100/200% higher', 'surely good news must be coming soon', etc. Even the tables showing buy/sell splits indicate an 'unloved'/ignored stock.

And yet just a few weeks after these posts, it was trading at more than 3 times the amount. A little further down the track, and it reached over $1.20. Current Market Cap is around $1.4 B (today we're priced at $ 64 M).

The triggers for the initial tripling in the price were MOUs for offtakes (note they weren't even binding offtakes) and a distribution deal.

Given the news that we've had over the last few months (including what was advised at the AGM), it seems that offtakes are a 'when', not 'if' situation (and imminent given the way the current status of negotiations has been described), which implies that our re-rate may be sooner, and more pronounced (if it follows a pattern similar to PLS), than the current on-screen market depth may have us believe..