No mystery here. There must be some further shenanigans going on...

No mystery here. There must be some further shenanigans going on over there or more bullshit being bandied about. Maybe this guy's conscience has got the better of him and like many before him, such as Phillip Bruce and Peter Spivey he has decided to get out untarnished.

Can someone out there shed some light on the NPV amount of 55,168,000.00 stated in Note 4 of the June 2021 half year activity report. Is this in AUS or US$? Is it BSR's share of the NPV from the mining of pits 1 and 2 or does it represent 100% of the project and includes the 37% belonging to the minority interests? If it does represent our 63% share only, then based on BSR issued shares at that time it would equate to a share value of 2.3 cents. On the other hand if it includes the minority interest, being 37% of the NPV then BSR's adjusted share value equates to only 1.46 cents. The way the Board and Riley report these figures I can never really be sure. I guess as in the past we just need to determine it for ourselves.

Either way, with a average share cost of 1.8 cents it is likely I am either going to make or lose 1/2 cent after 7 years and given what I have witnessed to date I would count that as an exceptional result.

So in the sixth months to June 2021 the project has impaired ( written off) approx.18 million AUS$ in previous capital and development expenditure and some of which will more than likely will have to undertake again. I believe the amount written off equates to the total original finance provided by the Coris Bank of some 14 million odd US$. Talk about an exercise in total futility. Even now, after the new Board has taken over I am non the wiser as to what is still remaining intact from all the expenditure MGO has undertaken. Is the much touted security fence is still there? Has the ball mill sitting a field rusted and seized up? It would be good I think if this new Board gave shareholders an in depth up date as to the projects current state of the affairs rather than financing this and raising capital here and there. Where is it all really at? Surely, they would have to know were things are at or how else could they have determined their new NPV.

The last thing I expect to witness is the same as for the last 6 years, with Riley in the quarterly figures announcing so many million simply spent on Project Development with McKenzie adding the innuendo padding to support the figure.

Who else out there did not know that the Senegal Government last April issued to MGO a cease and desist order with regard to all the project's mining activities? First I heard of it. No wonder there was movement at the station with the appointment of a new Board. Again, shareholders don't need to know.

I wish the new Board continued success as it is the only way I may get back part of my 1.8 cents, but I know this could be another 12 months away if it happens at all. For now nothing has really changed, for us it remains just a waiting game for us on this side of the fence.