Ann: Coris Bank Settlement and Bishop Resources Funding, page-13

Firstly I'd just like to thank the current management for the tireless effort that have put in to hopefully make this company a going concern.

I see there is no mention of the approval by the government to extend the permit. It was a condition for the new funding, so one can assume that they were given a guarantee from the government.

Also the question of when this will be lifted from suspension. I also assume that they will not be able to raise any capital via a SPP to their shareholders without first coming out of the trading halt. And money will be needed to get this company to production stage.

Read a piece the other day on Chesser Resources which has an exploration permit in west Senegal. Sounds like very similar to the infancy of BSR. Their share price was 13cents with a market cap of $65 million. With a recommendation of 30cents.

I'm usually against a consolidation due to the majority of times, the price creeps lower after a consolidation, however maybe this might be an option.

The options to be issued to Bishop resources has me in a bit of a quandary. I suppose we were going to lose everything so we should reward our white knight, however 5 years expiry, if by any chance we hit 10cents within 5 years, that's a great 30 million dollars reward for backing us. I suppose it's risk V reward.

I'm just excited to see this thing live again and that I haven't done all my dough (yet).

Good luck all. Cross fingers.