Hi Midnight, C Numb Pete and the other diehards. I replied with...

Hi Midnight, C Numb Pete and the other diehards.

I replied with this post recently on other thread.

I post it here once more. Can you answer a question for me how do you manage to put all the previous ASX gold PGM metals group announcements and article out of your mind?

And just go with the flow with this low-grade rare-earth caper. Desperation perhaps ?

Andrew Reid made that statement during my one and only ever telephone conversation with him I seriously doubt he would admit to this now.

ASIC are looking into their activities; however, this seems to be at a glacial pace.

I met with Anthony from Drake in New York back in 2019 with Andre Douchane in London and Ken Kluksdahl in Denver Colorado. I attended a meeting in Brisbane with Jeff McKenzie, Steve Grove and Professor Hugh Abercrombie. I have also exchanged many E-Mails with others involved in this

At all times all of these people where extremely buoyant and confident that this was a serious precious metals discovery. Hough Abercrombie thought at the time that the silver credits alone could cover the mining costs for any other gold or PMG’s.

I doubt that any of the original investors in BBX and later BCM that put money into this did so believing they were putting their money into some low-grade Rare Earths gig.

The gold grade (360 g p/t) and 16 g p/t platinum and other metals and the (alleged) JORC resource featured in many ASX announcements and articles were certainly used by the company to full effect particularly when raising capital.

This was all backed up with supporting evidence such as photographs of metal beads on lab scales and flow chart for a trial mining plant they even employed Edmar the engineer to supervise the building of this plant. Sharholders where told at the time that the trial mining plant was basically an upscaling of the method used that produced the metal beads.

Back then I had thought that even if the extraction method required Copper Nickle wire and various acid treatments was twice the price of a more conventional treatment plant that with the claimed metal grades this would be of little consequence.

My first misgivings probably started when Andre was changing assay labs every six to eight weeks and 50 Kg samples were sent off to labs only to be never heard of ever again.

On the assumption that the JORC resource passes the acid test and that there is actual gold and other metals in the ore on the leases why did the company drop all activity in this area like a hot potato.

After all Andre had put together a hand-picked team to specifically exploit the gold and PMG metals group and this team is still employed at cost to the shareholders.

The big question would have to be why can’t the progression from metal explorer to producer continue alongside the Rare Earth program.

With the gold price steadily moving towards a price north of US $3,000.00 per ounce ( Tepid Andrew? ) The fact that Andrew Ried has no interest in pursuing the gold and PMG story causes one to wonder if it was all just one big lie?

It’s probably far to late for the likes of Midnight Pete and a few of the diehards to escape this fiasco.

However, any new potential investors I would strongly suggest they read the whole story on BBX and BCM it’s all there in the public domain before contributing to the lifestyle of greedy brokers and directors.

If people have been watching the company for anytime they will know that each progressive financial package the company entered into has been a disaster for shareholder value.

The last one-cent C.R. failure with the 96% shortfall is hopefully indicating that potential investors are finally waking up.

As a reasonable starting point for due diligence, I suggest this article is well worth the read. 2^nd November 2024 from Far East Capital.

The Bottom Line - the broker options stink Theelephant in the room is the 339 million option package being issued to Euroz.It is obscenely large. Normally, when shares are issued, the options attachto the shares, but not here. The broker has skimmed off these options for itsown self. Bugger the shareholders! This is broker greed at its worst. Thedilution to shareholders is crippling.

WeeklyComm2 Nov 2024 copy

Many thanks to Hot Copper for providing this forum and long live free speech.

Talk about "Caveat emptor"

Cheers.