Ann: Company Update, page-179

http://www.scoop.co.nz/stories/PO1709/S00004/stockton-mine-changes-hands-in-a-terrible-deal.htm

Share price has yet to even get close to remotely appreciating the unbelievable 'steal' BRL has on its hands - for starters, the market seems to have missed the huge cash generating potential of SE's assets, alongside an already announced step up in BRL's own production.

Next 2 weeks will be very interesting - no doubt BRL are talking with bankers (and bankers are only to happy to talk with BRL!) about getting debt to finance the remaining, relatively minor, amount left (given SE's assets are generating 4m of cash flow per month!).  Could well mean the convertible notes and RCPS originally issued to help fund SE are no loner needed - what I would much rather prefer is a 1 for 5 rights issue where BRL would easily get 20m+, whilst rewarding those who already hold shares, which no doubt includes most of the 'sophisticated investors' who make up those RCPS and convertible notes - an ultimate win for everyone although it would punish those who are waiting for a so called impending crash created by dilution - however, as I've already stated my price target in 6 months of 18 cents, even if with full dilution the shares are still worth at least 24% more than yesterday's closing price - in my view!

The excitement really does continue, and I wonder if the share price/trade volume change today will reflect the monumental acquisition, coupled with the potential for a very much reduced dilution (a worry that has been holding the share price back lately I reckon