Afternoon trading February 9, page-206

BMG

BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to announce that it has entered into a binding
agreement for an exclusive option to acquire a 90% interest in three exploration licences (one granted and two in
application) located in the West Arunta region of Western Australia.

The way I read this is that the acquisition has not taken place yet. Two of the licenses are in application.