Ann: Exploration Update, page-62

I take back my comment about BNL being run as a lifestyle company on reflection. I believe it had hallmarks of such prior to Trent coming on board but he got things moving in the right direction and the hiccups they’ve had to deal with, being Covid and change of process at COGCC we’re not their fault. Initially Trent and other BOD were taking performance rights as options that didn’t have nil exercise pricing and I agree with this as it keeps their performance incentives aligned with share holders interests. I don’t see why they would consider deviating from this practice if they have confidence in the company. I don’t agree with what has been proposed in its current form. Propose performance options by all means but make the strike price the recent months VWAP (at a minimum) or preferably above to help negate the dilution impact on existing shareholders. Then all our interests are aligned and we can all get rich together or go broke trying!

sometimes I go on a ranty and pessimistic tirade that gets a little out of hand and unhinged from the reality. I also sometimes confuse one companies history or BOD with another (trying to keep track of too many) and post before I reconcile my research. Oops and Apologies. Please accept my correction here.