Ann: Application for quotation of securities - BCN, page-4

drill results.. we havent struck an elephant since those oppies came into existence, we have struggled to build our LoM and we are using a low cut off to stretch the LoM, and yes the oppies seem to be a drag on the SP

the company is clawing its way foward on the LoM, and its been a lot slower than we would like, and im sure GMcG would also have liked it to have grown faster from organic drill hits, you cant fault them for trying, theyve just been unfortunate to not get a bigger paydirt out of their drilling in the past 2 years, but they are growing and getting stronger each year.. bringing their mining in house to cut costs, bringing in solar power to help mitigate rising energy costs.

I have confidence in the team, we will continue to grow, and maybe we will find an elephant in Timor, or some nickel or other targets at McP.
Lady Ida looks a good add if we can get it, and certainly better grade than what we have been milling this year and last.

They might update the LoM before the AGM
Gold price hasnt particularly made strong gains over that period either, so thats weighed too.
its a long time in the doldrums.. and an absolute bargain for people to be entering this stock now.. i wish i wasnt overweight in it so i could add more. Our day in the sun will come, and yes its taking patience.

a buyback might help clear out that oppie hangover and get us into upward momentum, but i think their focus is on picking up assets to build LoM as a higher priority, so i dont see it happening short term