Ann: Kal East - Excellent Progress on all Fronts, page-74

Bc8 has the same model. These guys built Silverlake. They have done deals with NST. It’s already grown the resource and paid off its acquisition costs early. Ramp-up continues. Bc8 found the extension and have proven the **bros. They have also identified multiple near mine targets. They have km of open exploration, and known ore bodies to drill out. Bc8 took the resource from zip to 4 years and it’s open. The gold price has more than doubled since they bought it. Then they picked up the 3rd largest Antimony deposit for zip. That’s about to get drilled. NST would get a great deal more for Paulsen today. BC8 bought it when prices were depressed and few buyers were around. This management team knew what the asset was and got it. It’s interesting that NST still own a chunk of BC8 even though it’s well out of escrow. That suggests that they know that the sum of the parts of this company is worth more than this stage 1 valuation. This relationship opens up future deals imo.
Zoom out and look at Lakewood. It’s a similar story. Massive payback speed. Bc8 will surprise the market. I have no doubt it’s shaping up as the next fast moving gold train the market is yet to work out. Compare this to the peer group and it could be 3x in 12 months. It’s gone from a low of sub 20c to a high of $1.10 very quickly. That is after raising north of $150m. They have the same model of drill and acquire. Markets slow. Going to be a great year with even higher margins imo. This company is set the foundation, and just getting started. OBM and CYL are about to find a new kid on the block this year. Don’t forget Coyote. That’s capable of producing 50,000 Oz pa at less than $1700 per ounce. Who knows what other deals will turn up.