Ann: Voluntary Suspension, page-26

You raise a few valid points although I don't agree with your assumptions.

Firstly, the 'naysayers' aren't trashing the price. Whatever you pick up at carcass prices will be a gift (or poison chalice) from management, not the naysayers.

If you have accepted as real, BD's representation that they're getting to the higher grade dirt 'any second now', can you please explain how you distinguish that representation (which you accept as real) from all of the other representations that turned out to be false?

If they were anywhere near the higher grade, do you not think that in the current climate they would fall over themselves to announce that?

Management conceded at the AGM that they've been over-promising and gave an undertaking that they would stop doing so!!! Think about that for a minute...

After all that has happened, they still tried to give the themselves bonus shares and options! They withdrew that resolution at the AGM - not because it was the right thing to do, but because they knew it would get voted down by shareholders.

People trying to do the right thing wouldn't have proposed that resolution in the first place.

They still won't publish an AISC, so how exactly do you envisage they'll be in a position to pay back Orion '$16M in April 2018'.

One needs to have a close look at how this stock got to 10.5c, and it was well on its way there long before any rain events, gold room fires and pit wall collapses.

They said they moved 1.5km of dirt to get to the higher grades. Where are they?

Look at the grades before the rain event, look at them during and then after the event. Tell me how much of an impact the rain event actually had.

Look at what grades they were expecting from the underground, look at the grades they actually got. Please correct me if I'm wrong but the PFS and the viability of the business very much depended on the higher grades of the UG.

When they couldn't get the grades from the UG, they announced 'we now have a better understanding of the underground'. Anyone who has learnt the language of 'BLK' knows exactly what that means.

Bargain basement prices don't immediately signify value and upside.