McGarry mentioned a few times they had something in the pipeline (in talks) which he kept referring to as an underground mine which will help us get to the 50,000 p/a target they talk about.
Said we’ll know in June next year if Timor Leste is a go or not as that is when they'll be assigning tenements. They have a full time lady on the ground in Timor and another guy (can't remember if he was a solicitor or something else) on a retainer. He seemed quite positive about our chances.
Exploration results will ramp up in April next year and continue throughout the year. Once again, they had a very positive outlook on this.
He spoke about consolidation, share buy backs and dividends. No mention of when the next divi will be, but he did say consolidations more often than not erode share holder value so they don’t want to go down that track. Buybacks can be good to get institutions involved and kept happy as the share price will stay steady or slowly increase. But for the long term shareholder they aren’t necessarily in the best interest of them. Only 8% of our register are institutions at the moment so if that grows as we grow, then buy backs may become a viable option.
They are going to present in Freo and Busso early next year. Said he didn’t think Beacon had a big enough new project to speak about at Diggers and Dealers, because if you don’t blow it out of the park at Diggers, then you can be marked quite hard and suffer more than if you hadn’t presented.
He spoke about a 10 year mine life like it was all but guaranteed (well they are building a tailings facility to accommodate that!) so that was good.
