Ann: 5 Year Growth Plan and Equity Raising Presentation, page-42

This is beyond disappointing, rarely post but have held since the Draig days, members of the Board are known to have sold stock recently, this looks and reflects badly regardless of reasons.

Up to this point in time I have largely felt management of BGL have done a VG job, however my feeling is that this CR and the reasoning provided for it are premature, IMO they should have given the business the opportunity to produce within (or above) stated guidance figures for at least another 2 Qtrs or more, to provide more surety as to their ability to be able perform according to plan. They have sacrificed far too much to get this money, clearly shown by the discount they have given.

Further, the discount they have given to the instos is indecent and adds to dilution unnecessarily, if this is such a great high grade asset why does the SP need to be trashed to attract investors ?? It will not make a lot of difference to retail, other than the fact that you cop at least a 10% dilution, but then you get the big opportunity to see your SP trashed, and then need to buy in to the SPP to redress dilution, off the back of knowing the Board had been selling leading in ???

Not happy, we already expected they would do more exploration and we already knew about increasing mill capacity, what's the hurry, could've been done much better when they had more money at bank - which was definitely coming with POG as it is..