Ann: Australia Update - PEP 167 Project Status , page-6

re: Ann: ITR: Australia Update - PEP 167 Proj... Hi guys,

I suspect that I might be the BESBS trader in question here.

Since listing at 20c, BAS went to 70c+ on Zane-Gray.
Since then, the lowest I have ever traded went to 9.5c. Generally speaking, BAS have always managed to get somewhere between 10c-17c, on smaller targets.

Given the potential size of Windermere, I would place it in this category. However you need to add to the fact that BAS have not seen activity for some time (this can be a positive with traders as there is no recent bad luck), and this is really an appraisal well.

So, at first glance, I would be looking a 2-3 bagger prior to drill. The one wildcard factor here is the almost mandatory capital-raising that will occur closer to drill once the SP starts to appreciate. This could easily cap BAS for a while. This is particularly true of groups like pattersons that might sell most at a profit on the way up before spud.

All said, I can see 8-10c but then further runs will be dependent upon capital raising. All JMHO...

Cheers,
Kat