Midnight /Steve, It’s easy to see why so many investors were...

Midnight /Steve,

It’s easy to see why so many investors were taken in by this well-planned confidence trick. They certainly went to a great deal of trouble to provide evidence of (or the appearance at least) actual work going on drill samples pictures, lab equipment purchased (or home brew kits.) If I recall correctly one of brains of the gang had three attempts at buying a furnace to reach the required temperature.

Below arejust a few examples of ASX announcements and other sources in the publicdomain.

Do I recallcorrectly, did not one of the industry insiders Warwick Grigor of Far East Capitalhave something good to say about the BCM Rare Earth business, clearly, he wastaken in by the name change or has forgotten his newspaper article describingthe BBX Gold as magical alchemy a few years back!

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It a subscribedfor article; however, here is a snippet.

BBX gold: El Dorado or illusion?

Deep in the middle of the Amazonrainforest sits a project that is either one of the richest concentrations ofgold mineralisation seen in recent times or a modern-day case of alchemythat is bound to leave investors in tears. Australian-listed BBX Minerals,a little-known and tightly held exploration company based in Perth, has inrecent months been reporting a steady stream of spectacular gold grades fromsampling at its Tres Estados and Ema gold projects in central Brazil.

It cannotbe denied it certainly ended in tears for many Ponzi style investors.

16^thJune 2020

PERTH (miningweekly.com) –ASX-listed BBX Minerals has secured an A$8-million standby equity fundingfacility with US-based institutional investment group LDA Capital to advancethe construction of a metallurgical test plant and subsequent project development at its projects in Brazil.

The facility, whichwill have a 36-month term, will allow BBX to issue shares to LDA over the nextthree years at its own discretion, to receive funds of those shares.

Read through the annual report for the year ending June 2022.

Annual-Report-to-Shareholders.pdf

Figure 8: Newly purchased Atomic Absorption Spectrometer.

31^st March 2023.

BBX Minerals Limited (ASX: BBX) (“BBX” or the “Company”)is pleased to announce that it has executed a Share Subscription Agreement(“Agreement”) with Lind Global Fund II LP, an entity managed by The LindPartners (together, “Lind”, or “Investor”) for an investment of up to A$9M

From the chairman’s letter 30^th Jun 2022:

Our focus during early 2022 was to develop an assay method suitable for BBX’s complex mineralisation. Following an extensive period of research and development, the Company completed the development and testing of its assaying method. This analytical protocol assays for gold and platinum group metals (PGM) in a single method. It comprises a nickel smelt at 1,500°C, producing a nickel bead which is subsequently digested in HCl and the residue dissolved in four acids. The solution is fire assayed by conventional lead collection with an atomic absorption (AA) finish.

There have been a few minor changes; however, for the main part the bulk of the culprits responsible for the disastrous financial package arrangements, the signing off on the ASX announcements such as 10–12-ounce gold per ton results by a qualified competent person and the stupendous dilution and loss of shareholder value remain in place.

A bloke would have to have rocks in his head to feed this bunch any longer in my humble opinion.

Cheers.