Ann: Burbanks Exploration and Mining JV, page-4

Yep - I'm very happy with this. There is gold there to mine. BAR needs to get some revenue happening. The gold price is fabulous. This is a perfectly sensible way to proceed - creating a path to revenue on fair terms, without giving away too much.

This puts Barra back on track to develop their gold assets in the careful, low cost, low risk way they were doing previously with Kidman, only now they have the added value of owning the entire Burbanks project, having bought it off Kidman back in November 17 for very little money, when the Gold price was way way lower than it is now.

FMR is a great JV partner, with the huge added benefit of access to the Greenfields Mill to process what they dig up. Big problem solved.

Personal opinion here - but this really puts Barra's value much higher than it has been. I'm not saying the market will react immediately - but the current 0.015 suddenly looks very cheap indeed.

Cheers

Dave