2 distressed companies, one big opportunity., page-14

Apologies for the delayed response, I missed your question.

I didn't hold because I didn't think there was a possibility of them turning things around.

The published grades as per the last announcement I referenced in another post are significantly down on what is expected.

I have not bought yet, I but I will buy if they go down to $0.085c, so still a ways to go, and it will only be a small holding.

Of course this is contingent on any future announcements.

The other thing is, there is no such thing as a curse.

There are such things as incompetence and fraud. Am I saying fraud has knowingly committed here, of course not, but the facts are the grades published are not what is being realised.

The other thing is the BDC were still promoting that they were going to build a plant, and that was going to cost $XXXm and now it is going to cost $YYYm.

With BDC currently being valued at about $26 per oz of gold in reserves, there is A LOT of potential upside.

They will still need to raise money, but it will allow them to make whatever upgrades are needed to process the ore from BDC (it is a different type that requires some additional processing as I understand it), and you can do an awful lot of trucking of ore and greatly accelerate the timelines, and be exposed to a lot less risk for significantly less money.

This is in recognition that money will be needed, but A LOT less than building a whole plant from scratch.

Again, the landholding in the district would be significant, it would also mean things would be a lot less desperate for OBM.