Ann: Bass achieves excellent concentrate optimisation results, page-50

Hi, that is not true, the authorization to do a placement beyond certain threshold is recquired by ASX rules at the AGM level of each company, and would be valid for a whole financial year. Companies do this as a precaution measure in case they need financing, not necessarily they would need to. In other words, the vote at AGM will provide BSM the possibility to do the financing for a period of one year post AGM decision. Its a smart precautious move from management.

Of course as I said before another capital raise is expected to finance the new plant, but that is in q2-q3 2017, and the amount would depend on cash flow at that poitnt of time + stock price (hopefully 7c - 10c) + possibility of debt, and why not pre-sales with an off-taker. IMO the finance to build a new plant would be a mixture.