Heres are some of my takes on the AGM. These are my understandings/undertakings only and by no way represent anyone elses and that I could be wrong with my interpretations.
Most appears discussed already so il provide bulletpoints.
- About 40 in attendance. Room was entirely full.
- About 10 investors came from interstate/another country (Jonatb, Dunny29, TTU, Malay, Whoknows etc etc).
- All resolutions were passed unanimously. Formal part of proceedings were about 15-20 minutes, with presentations and questions going for about 45 minutes
- Greg recently had his 70th birthday overseas and had by the sounds of it, had a very disrupted one due to the traction BGS is making. Apologies, but thanks GW.
- Mr Darryl Butcher, our Project Manager came across as a very knowledgeable asset. Extremely pleased he is on board.
- Without knowing the fine details, it appears lithium is very much in abundance, our problem appears to be actually trying to find no lithium for our plant & operations.
- Confidentiality Agreements are in place, nothing further was really said but Greg said ‘make of that what you will’. I make of that, that the BOD have this under control and things will happen imminently.... I trust this lot, A LOT.
- Mali will take their 10% of the project upon grant of a exploitation/mining permit. The additional 10% will then be done at commercial rates, (special dividend)?
- I got the impression lithium is everywhere.
- Not only has the Minister of Mines been introduced to BGS, but at the latest conference, the actual Prime Minister of Mali was.
- Most of the crew heading back to Mali to meet with industry participants/potential vendors to fine tune costs, a lot more progress appears to be made when meeting face to face.
- I got the impression lithium is everywhere.
- The board appear extremely confident to bring cash costs significantly down, mainly transport and logistics, power and fuel, with very strong leads already.
- The RC rig for the 20,000m campaign is going to use a jacked up pressure engine to blast through rock like butter for a quick campaign.
- 20,000m campaign is likely to be extended.
- I got the impression lithium is everywhere.
- The board will do an exploration target when we get our revised JORC, so we will have an upgraded JORC with increased tonnes of what we have, and then a target of what we potentially have. Exploration targets will still be assumption based, so I expect that whatever we announce, it will still be higher than that as the Board will take a risk averse approach.
- 2mpta operation appears to be the kick start approach… personally hoping for a 4mtpa operation to back that up, and I got the impression that will be the case.
- Galaxys pricing increase was brought up (really good for us), and that will be reflected with some price increases in the PFS. Higher price and lower cost with increased resource… just froth at that for a moment.
- I got the impression lithium is everywhere.
- RG deal to close ‘soon’, appears out of our control and with the minister, but both parties extremely keen to see this through so im personally expecting an extension to the deadline coming. Greg wouldn’t comment on the ounces RG believe they have for our deposits, but I suspect RG will underplay their hand.
- Gold and Lithium teams are likely to be set up in the company for each asset, as opposed to one doing everything… Team will grow significantly as we start to ramp up very quickly, but a lot of work has been put into setting up systems, process flowsheets and controls that we previously did not have so we can grow effectively.
- Did I say I got the impression lithium is everywhere?
Having been to many AGM’s before, I can clearly say, it was the best one I have ever been too. We have a suite of professional speakers who boomed confidence and trust. It was good to meet other HC posters for the first time such as Jonatb, dunny29 and twothumbsup whos commitment to the stock is unquestionable, and also the bravehearts and longtermers who I have previously met such as franky1, malay, Eagleyez, Sphinta, Sirbob1st, Klatses, Whoknows, Thomo and many other non posters who continue to show their support.
And like I just said, having been to many AGM’s before, its VERY evident to me, that the shareholders we are amongst, are much of the same person. We are all like one entity sitting in the Top 20 as number 1 holder with a 70% holding… When BGS decides to break out, its my strong opinion that we will break quick… We are very much like minded people, and the like minded people here wont be selling for cents, they will be selling for dollars…. Isnt that right Eagleyez? Something you have been doing a lot of lately. Well done.
Just like last year, Whoknows for best on ground… 3 votes mate. Pretty sure that’s a back to back brownlow for you. Was good to have a few breakfast beers with you all.
PS: koparoma, would be good to meet you in person next time
Over and out.
Boy.
