AGM, page-182

My key takes from the AGM:

Positives:
- RG already drilling our gold tenements, large exploration target ([email protected]/t)
- gold deal actually seems decent (4% of profits, no costs or risks)
> ie extremely beneficial RG building road for us etc
- grade of Li deposit will improve in next batch of results (pretty poor they announced the JORC as 1.48% and gave themselves free shares @1.5% when it was literally guaranteed to surpass that, but again nothing we can do)
- this batch of drilling will see us test out potentially that third ore body (southern zone?)
- WZ going to add significant tonnage (1Mt per 50m)
- WW [paraphrasing] lithium deposit worth multiples of the $35m it's currently valued at
-  permitting done third quarter next year (significantly faster than Australia projects) = if not sold than build the mine 2018, production end 2018?
- 50Mt at 1.7% rough target after this batch of drilling?!!
- Minemark continuing to represent BGS
- deposit still substantial room to grow in every way
- other prospective pegmatites on our tenements
- Plenty of love left at our other gold tenements, likely to drill out and sell to RG/do another deal down the track
- scoping study will finally put to bed any mistruths regarding BGS logistics
- good to see a couple of vocal holders try call out WW etc

Negatives:
- performance shares passed, but realistically none of us stood a chance at stopping the GAS leak
- hopefully management consider more than two rigs given it was clearly hinted we all want speed to market
- no news for 6 weeks
- no updates regarding t/os unless they are legally obliged to tell us, WW only dropped news via 3B as obliged else we would not have heard

- better communication? Highly unlikely

Ultimatelt: holding, the power of our deposit speaks for itself

Debt building? Let's hope so, if not let's hope they don't sell the farm for sub $200m (worth A$400m+ straight up sale IMO)

- company aware they need another full timer to get them to production, unlikely anything will happen in relation to this before Q3 next year? (Which is upsetting. New director, when appointed = +we going to production, -no lucrative takeover dividend, and again unlikely they take any steps in this direction till late next year as they won't bother appointing someone if we are selling the project)