Ann: Annual General Meeting - Chairman's Address, page-7

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04/12/20

20:14

Post #: 49358378
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Originally posted by Fyfee: ↑

BP

Great meeting today indeed. I did see you there , closer to the front than me, but i had to run at the conclusion, as i was under the pump to be elsewhere. Sorry not to say gday.

Fantastic presentation by our MD.

Here are some of my takeaways........

This is such a well managed and astutely run business. I loved it when Morgan said “ yes we are on time and on budget, and i know, because there isnt one payment that gets made by our company that i dont sign the chq for”. These people really do treat our funds like their own.

So construction is on track and we expect to spit out the first bullion q2 next year. All while, working around a the considerable difficulties of a global pandemic. Thats a great effort i say.

On track also to meet the $754 usd asic, and all modelling has been done around a usd gold price of $1450. So there is plenty of upside on the sell price even with current pog pressure. Morgan also commented there were several fronts that he felt could lower the asic, as the modelling they have done to get to that asic has been conservative also and he expects to meet it or beat that $754 figure. Particularly regarding mill capacity / throughput.

Recent grade control has proven all they had hoped for the resource and they are wrapped about those results.
They have numerous near mine targets which early drilling has provided very good signs , and Morgan seemed very excited to pursue, commenting that some of them are showing the exact geology found in our main Okvau deposit.

He also said they are currently looking at 2 opportunities at present ( that may or may not land ) in regard to their intent of purchasing an asset within Australia. He said again that they will become a multi asset mining house, not a single mine gold mining company.

Its been a long wait for some of us ( none more so than BP) but rarely do good investments bear ripe fruit overnight. For the patient hands , i think our collective reward is very near, and if you are prepared to be in long term from this point, i think the fruits will be ample and tasty.

Im very happy to have my funds in these very capable hands.

Cheers

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Thanks Fyfee for summary of meeting, I've been in 4 years now at least can't wait for this baby!

EMR Price at posting: 63.0¢ Sentiment: Buy Disclosure: Held
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Ann: Annual General Meeting - Chairman's Address, page-7

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Ann: Annual General Meeting - Chairman's Address, page-7

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