au recovery and cost estimates, page-3

BSM travelling very well.

With Fossey producing +1m oz Ag p.a. the overnight rise of $1.01 (as I write) adds +$1m to the NPBT line - amazing :)

Re the tailings: I talked at length to MR about a month ago - really switched on and approachable guy. Feel very comfortable with him at the helm.

I hold a large position in EVG (currently building an Albion plant) and we talked at length about it. MR well aware of EVG and following their progress closely.

He stated though, that the CIL and pressure oxidation processes have already been technically assessed to a BFS standard, whilst, as it is still a 'new' technology, Albion presented some higher technical risks.

As such he said that bankers may prefer the BFS proven processes over Albion.

Either way - the big thing I took away from discussing things with MR is that BSM will be producing both Ag and Au from that tailings dam ASAP and that the market is not fully recognising that.

I am now a large holder of BSM and very happy to sit and watch MR achieve his aspiration of turning BSM into a +$500m company over the coming years.

Cheers
John