Ann: Lady Ida Completes and Appointment of New Director, page-48

Hi Taurisk,

Thank you for the comments.

I do understand where most people are coming from on this stock - it does seem a bit inexplicable - especially if you are used to getting quick results.

IMHO this little company is really trying to do the right thing by everyone - just remember its not just us shareholders but also the greater universe of employees and other businesses whom all rely on our directors doing the right thing.

I find it personally insulting when I read all the disparaging remarks of and by the so called advice givers on this stock. I can just imagine how they feel reading it when they are just trying to do their best.

This game is one of great risk when you're at the coalface - especially in the early days when we had a mill but very little in the way of LOM.

Directors have now secured our future with their astute purchases on McPhersons, Geko, Mt Dimer and now Lady Ida. The LI purchase was particularly fraught, when having to deal under time constraints, with seemingly aggressive "seller". ASIC stuffed their plan for BCN to purchase so they did the next best thing and secured it quickly with their own money. Just remember LI goes back a long way with many wardens court cases (these can be very traumatic in their own right!). I don't begrudge them one bit for getting a good deal for themselves BUT also for us shareholders - they did all the hard work for our ultimate benefit.

As I have mentioned previously, all this asset building was done very economically to BCN and in an environment of rising gold prices and little good ground available.

Timor Leste is an entirely different story - all come about by your directors very astute recognition of the area and painstakingly developing excellent relations with the Timorese people - whom they have hosted at Jaurdi on a few occasions. I have great admiration for their efforts here.

It is unfortunate that we have such a large SOI, this was brought about getting us where we are today with very little debt. It may be addressed in the future ? The SOI is why we are stuck in our current price range.

So, anyway, I have every confidence in our companys future - its a slow grind but we're getting the runs on the board !

Cheers !