chart - time to liquidate!, page-21

PJ: Bried answer to your qury why BSG could be worth 80c.

Without going into all the analysis etc, the simplest way to view it is to take the RFC Capital report valuation (fully diluted) of 43c, adjust it to the current gold/copper prices and XR (as opposed to RFCs POG:345, AUD: 0.60, copper 78c), then add all the potential resource upgrades which are yet to be reported.

For example, original roseby resource was estimated at about .75% copper. However, the majority of drill results at the major deposit at Blackard have intersected >1% copper.

Further the RFC report ignored completely (in taking a conservative view although they are aware of the potential) the expected increase in reserves at Quartzite (Georgia) due to tailings gold grading and in situ ore.

Finally there is Ocampo, but i don't think there will be much upgradei n this resource if any, possibly even a decline in grade (but increase in tonnage).

All in all I personally think BSG could be valued at 60-70c...if about 90% of things were favourable, ie continual strength in gold price, stagnant AUD, increase in reserves at quartzite etc.

The extra surge to 80c will have to come from positive results at its recently acquired MEXEX resource. Some people have expressed concern at why mexex was acquired so cheap, and therefore probably not feasible. I can squash those thoughts. Mexex was formerly owned by a mexican company. This mexican company was actually owned by another LISTED ASX company. The ASX code INT may ring a bell :). Anyway INT have focussed their eyes on an emerging (and positive) technology. However they had to get rid of their non-cpore assets to raise finance to do this. Disposal of MEXEX as a high priority was one asset to go. Note that they have retained small royalty rates so they obviously think it has potential.

Cdchi1