Ann: Exploration Growth Strategy, page-21

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ASXcowboy

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29/04/19

16:46

Post #: 38309824
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Originally posted by Gwaihir ↑

It's game on - or at least, game continuing today.

BGL has appointed Canaccord to field enquiries from interested parties.

BGL 30 kms trucking to Bronzewing.

One poster on the BGL forum believes reps from EAR may be in Melbourne talking with Canaccord.
It would be interesting to know if this was true.

NST might take out BGL, though I expect they may prefer a BGL/EAR merger at this stage.

EAR is in the middle of it all.

NST are probably looking for the golden egg here.
1. Take BGL discovered ounces.
2. Use a refurbished EAR plant to process them
3. Have EAR discover 2+ million ounces on the Hadrian next to the NST plant.
Wonderful if it works out for them.

Interesting EAR exploration growth strategy again today, pushing a similar line - target generation, and Hadrian exploration for NST.

It was a comprehensive update, that showed plenty of upside, including the Bronzewing and Lotus undergrounds.

EAR will have $2.4 million after this quarter, which should take them through to about October/Novermber (or later), depending on the extent of the Q3 drilling at Bronzewing and Lotus.

There are certainly some interesting potential corporate and explorating developments occurring in this area.

Large sell down at 14.5c today after hours, there might be some investors with inside knowledge, perhaps not too happy if EAR became the small partner in a BGL merger - just wondering.

Something is happening.

Gw

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BGL as it stands doesn't feel like NST's sort of go. Although synergies work ok with EAR.

I still fancy an EAR/Bullseye deal and drill out further ounces with Hadrian and Mt Joel. Bullseye makes the most sense if there was immediate M&A.

EAR Price at posting: 14.5¢ Sentiment: None Disclosure: Held
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Ann: Exploration Growth Strategy, page-21

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