Ann: Breakthrough in Control of Resistant Malaria Mosquitoes, page-87

I believe BGT is still a patience play... and one of the best long-term specs on the ASX today.

The recent BASF partnership, the 9-month Grain Storage (pest-control) Milestone and the A.Gambiae (Malaria-vector mosquito control) results are all major validations of Flavocide/Qcide, but we're still a way from commercial revenues IMO. We have a suit of toxicology work to be done before we get the regulatory approvals we require for our grain pest control or public health applications. Support from new (global) partners with these regulatory approvals should bring a boost to the SP short-term. Long-term, we'll need our patent estate firmed up (i.e. approvals on our pending patents, which if granted will give us IP protection out to 2038). We'll also need to retain control of our IP and the Co. to ensure we don't lose out through a low-ball TO.

I also don't see a CR on the horizon. With more than $4M in the bank at the end of last quarter (after a R&D rebate of $282k) and a strong track record of restrained and strategic expenditure and more MTA's (and possible trial revenues) on the way, we're in great financial shape.

SP action in the past week may be attributable to the 9-month trial and the A.Gambiae results, but the release of 13M shares from escrow on 29 Nov. is also a likely factor. Then there's the usual T2 trading, and possible divestment or accumulation by key holders.

An updated T20 would help make sense of recent trading. BGT's future looks bright to me. GLTAH R-7