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Ann: Investor Presentation - September 2016-BGS.AX, page-66

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Scouse

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13/09/16

13:05

Post #: 19120079
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Originally posted by Ubique13 ↑

I wish they would just keep the RC and DD rig going out there until they can prove up a reserve of 40Mt, revising the JORC say, every quarter.

We need development of Goulamina to be fast tracked and it would be annoying if the development was halted due to waiting for additional drilling to be completed.

We know that the deposit is open along strike in both directions and at depth, in both zones, with clear additional targets to drill in the immediate area, so why not continue drilling right now with RC at least.

Wouldn't it be more cost effective for the rigs to only have to mobilise to site once, and a larger discount could be provided by the contractor for the larger volume of drilling required.

The first campaign will cost a total of ~650k AUD, maybe less due to operating in Mali. With another $8M AUD in the kitty with another ~4M on the way from options being exercised, we aren't restricted financially to not continue drilling.

Also plunge some deep DD's down to see if the Main, West and any other currently undiscovered zones link up at depth for some ~200m hits like the Mt Marion (NMT) deposit but at >2% Li2O.

To be clear, the company is testing the extensions listed above particularly for the West Zone I believe, with DD as we speak, hence the delay in JORC announcement which is excellent of them, but I think they should keep the drills turning until the monster is uncovered and in the background, the permitting process should commence right now.

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Thats what we need Ubi - well thought out comments from a SH POV for the Co to consider along with their new Advisors

Cheers

BGS Price at posting: 36.0¢ Sentiment: Buy Disclosure: Held
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