Ann: Change of Director's Interest Notice, page-40

Remember that EIA has been approved last year and therefore pilot plant construction was allowed to proceed once the equipments arrived on site. What they needed was the mining permit associated with the pilot plant (you need the mining approval to get the ore feed for the pilot plant) but the company later found out that they needed to relocate the pilot plant site to a different and higher ground due high risk of flooding and that is why we are where we are. Basically re-apply for EIA and mining permit approvals. This whole mess was left behind by the previous incompetent management team. New team has done tremendous amount of "cleaning up the mess" including renewal of many tenements, transfer of tenement ownership, and re-application of EIA and PP-associated mining activites, mine pit design approvals, preparation of works for DFS commencement which previous management team has done nothing about (there are so many subsets of works that need to be prepared before the DFS contract can be awarded to a contractor and we are almost there, thanks God, MH explained to me. People don't understand a thing about this preparation process). Read the last 2 or 3 quarterly reports to see for yourself how much work have been done in relation to preparation for DFS to begin.


If anyone of you think they are slow you cannot comprehend the whole process and the amount and the scale of work involved and frankly you don't understand that other projects that other companies would have to spend far more larger amount of money and a far more time to achieve what BEZ team has achieved over the last 12 months.

The new managing director has just been recruited as announced few days ago indicates that the time has arrived for many important works ready to enter the critical stages including the DFS, the 5mil oz resource milestones, the pilot plant construction and commission. It would be a complete waste of money to hire a new managing director 12 months ago.