Ann: Beacon to Acquire 19.8% Interest in Maximus Resources, page-9

Don't post very often these days but thought at least the basics of this deal should be recognised.

Leaving how MXR manage their company and even their tenements out of the metrics as I dont know anything about them still leaves impressive back of envelope figures for BCN buying in.

MXR have around 250K ozs of reserves (not sure reserve JORC status) and around $5m in cash at the moment. BCN just bought around 20% of that for $2.6m.

That puts an extremely low valuation of MXR at around $13.6m.Add the tenements and the fact BCN could get more involved in gold treatment , mining or further corporate action and you've got an amazing pickup here by the board.

There's nothing to lose at this level.

Cheers,

Disco.