Ann: Trading Halt, page-19

Not a fan with the timing, silver should go on another bull run after this Fed meeting today. Meaning the BML share price would recover back up to high teens minimum. Even recently when we were around 16c would have been a better time to raise. However as usual, the institutions always control the timing, they clearly see the low share price and the current market conditions as a great time to raise and get in at a good price. Their pressure was likely too great for management to say no to. Management were not desperate to complete a raise. No drilling mentioned in the quarterly and more than enough cash to complete the quarter. Plus if they are really desperate the $5M loan facility is there waiting...

There is clearly more to this story, either management are about to ramp up another big drilling program or there is some big newsflow items coming up which will create a significant share price re-rate and this is the final chance for certain parties to get in at these low levels. Overall, it can only be a positive to pay for business activities and get us to at least a point of the Sorby Hills funding announcement in the next 6 months. However there were always better times in recent weeks and months to raise to create less dilution IMO.