bas agm results vic 41 farmin did not pass, page-5

Voting Vic 41 down was a good move !

Particularly if your plans are to take a larger stake in BAS, which I believe OBL are looking to do.

I have a strategic view on this. OBL are in it for the long term and I believe there will be significant movement in the next 12 months if the following occur.

Derby court case settled
Inject of funds via OXX.
Farmin's to Backreef and Cyrano
Cornerstone Investor
Increased holdings of Derby Block permit (the other 50%)

I believe the farming and cornerstone investor will stump up the cash to increase holdings in BAS and get the rest of Derby. Let's see how that plays out.


It is my view that OBL want a larger share of BAS which is why they weren't happy in voting in a farmin given that they could get better leverage down the track.

There are a few hurdles, but as I have said in the past, they wouldn't be going to court if they didn't think they had a better than average chance of winning. I'm sure all will be revealed, and when it is, the SP will be north of 10c.

That's my 1.4c worth