Ann: Investor Presentation, page-38

Hello jdpc35, it is hard to quantify anything at present apart from the fact the XGD stocks and gold are in an extremely interesting flux.
BRB has actually timed this well in some ways. I apply top down and bottom up analysis to gain insight. It often helps.

The BRICS and US military and now Brazilian military will have an impact shortly. Tech analysis is suggesting some events on the fundamental level are probable. Then we have BRB and a clean sheet analysis. The revamped management will add to intel garnered by the outgoing Tom. I need time to assess as a lot is up in the air. The $60M is assured apparently; based on GL1 reports and that is the first stage of assessment = confirmation.

I await to see what Stephane and Peter have to say. Then they will test new theories and I am excited about that. New blood is sniffing the register given depth action. So others are thinking the same way as me. The cash has to arrive and the dust has to settle. It is clear they want to monetize Bombora and will look very closely at the optimum approach given the current state of knowledge. I think we have a new floor under price while the rest of the sector is undergoing the transformation due, probably overdue. The macro environment is responsible for the delay in the turn.

Clean sheet analysis is exactly that. I am waiting patiently given the potential and balance sheet. I have other interests in the sector. Timing is everything as that will maximize returns over coming years. The new CEO choice will be an interesting input. Local or offshore? Will we be looked after longer term or will we be offered a shorter term opportunity to move on at a premium. To many unknowns at present to make any specific suggestions.

Thanks for your posts. CW