Ann: Ricciardo Delivers Australia's Largest Open-Pit Sb Resource, page-224

Hi Harry,

I'd love to see a big upfront payment albeit I know this is a low probability scenario in the near term.
Anyone who closely follows the North American micro-cap gold equities space will tell you that even now sentiment remains poor. Many gold microcaps are thinly traded, and they are incredibly still within the vicinity of multi-year lows.

BS has been shopped around for many years (all the way back when Sprott owned Jerritt Canyon), there's been next to zero M&A interest from
any larger players (Sprott and First Majestic included).
There had been some interest from several micro capped junior explorers however these offers were almost entirely scrip based.
These offers were considered sub optimal due to the acquirer's lack of trading volume which meant WA8 would be unable to convert their newly acquired scrip into cash.

Why is it different this time?

These are my thoughts...

BS can now market itself as a gold plus antimony exploration play as nearby Jerritt Canyon was once an Antimony mine. This optionality increases the projects desirability now that Antimony recently became one of the World's hottest commodities.

I believe AB in her Q&A response is inadvertently telegraphing to shareholders that there has been recent interest from several exploration hopefuls, I'm guessing many more of these technically savvy palyers have come out of the woodwork which may result in heightened level of competitive tension. An experienced/motivated/locally domiciled exploration team could create plenty of buzz re-assaying old gold pulps for Sb and rapidly drilling out BS high-grade gold extensions.
This buzz would likely result in a significant uptick in trading volumes, enough volume to potentially give Warriedar the option of rapid (1 year if escrowed) monetisation of their newly acquired scrip.


Now what is First Majestic Silver's story.
A few months back a Canadian resource analyst friend informed me he'd heard rumours JC was being shopped around.
I asked about whether he had any update on JC potential sale a few weeks back. Apparently, all's gone completely quiet on that front, I don't know whether it's due to a lack of market interest or has Keith N now had a change of heart about the asset sale.
IMHO it now seems like Keith N is resigned to the fact that he will need to spend money (drill JC) to make money (sell JC).

My opinion on BS has change somewhat recently.
I hope she moves the asset on as quickly as possible so that we can use the cash/leverage generated from the BS sale to potentially accelerate our rapidly growing resource expansion story at our potentially tier 1 scaled Golden Range Project.