Ann: BNR: Offer To Acquire Geko Gold Mine, page-23

I've been looking at BCN as a potential undervalued gold producer ..........................................

They also have MacPhersons ==
Ore Reserve – MacPhersons Proved3 0.3 million tonnes @ 1.3 g/t gold
Ore Reserve – MacPhersons Probable3 1.1 million tonnes @ 1.1 g/t gold

So they have ~4 years of production at roughly ~30k ozs per year. I'm more interested in their step increase in gold production, with Geko which is approx ~1.9 g/t, a mill that is operating at 850kt pa - say they blend this grade with their existing reserves to increase the head grade into the mill they may only gain an extra ~0.25 g/t (being generous) so this may gain an extra ~10k oz per year ..................................

I've used estimate numbers from past presentations and from what I can find out about Geko. I can't see the step change unless they increase the head grade into the mill or ramp up the throughput into the mill which I thought was approaching nameplate but happy to be corrected.