Ann: Makabingui Gold Project Update, page-13

2014 ! Has BSR been drill this same area for the past 6 years? You would think we would not be here now still making conjectures about slopes, g/t etc. You would think that given the salaries being forked out, contractors hire and software we would have someone on board who given all the drilling results from Pit 2 to date could predict what the likely gold production from that pit for the next 12 months is likely to be given BSR's present production capacity.That is when they are finally producing some gold. Even a best guess at this time would suffice, as I know it would be a lot better than mine.

I have given up trying to calculate the potential gold production quantities as there are just too many variables and other considerations involved. IMO I now believe I am just simply wasting my time, if you are not located at the coal face conversing with those who can explain in plain English what the results are really telling you then you are simply wasting your time.

I actually wasted my time entering the first reported 101 sample results for Pit 2 into spreadsheet at 5 metre depth intervals and derived an average of about 2g/t for each of the 10 depth levels 0-5 metres to 45-50 metres . I did not make any adjustments for spikes in the data such as reported intervals with 34.8 g/t and 14.8 g/t which could be associated with a small gold nugget occuring in that particular sample. From this, can I conclude that expected total gold production from Pit 2 when completely mined out will average about 2 g/t? Does this mean that the previously reported expected g/t from Pit 2 is in fact wrong? I have not got a clue. Maybe, someone out there can explain where my calculations and results could be deceptive based on the g/t reporting methodology preferred by BSR management as in their latest listing which I did not include in my analysis. What am I missing about these reported results?

I do get the feeling I am missing something though, as all the positive news updates for the past 3 months have had no real effect of BSR's SP even with the gold price surging ahead as it has.

What am I missing here? Could it be that the market's perception of BSR's Managements' performance to date when compared to their previously stated goals is at an all time low. IMHO having witnessed this for so long. It will only be remedied when BSR starts reporting it's actual gold production results. We all hope that what Management are predicting in their own way via their updates proves to be on the money..