Ann: Paulsens Repeat Drilling Shows the System is Live, page-36

The company can only go into production when it is ready. It wont go into production because people want it. The delays are outside managements control. As you know, Covid was/is real world with regards to affecting business. WA was effectively shut for 2 years.
BC8 is doing engineering studies now. The second rig is going to start to drive the mine life hard before June decision. I am a longer term investor. The company sensibly altered its direction and bought super cheap permitted high grade assets when everyone was running around with their hair on fire. That was a very hard gold market last year and they still managed to raise the money and deal with NTS. That is paying off. Try and buy those assets now! Kal East is a build, commission play in a tight Labour market while Paulsens is onsite and very high grade. Its a no brainer when it comes to a cheaper priority restart.
Kal East doesn't make sense in this environment as stated by the company. Paulsens is the first off the rank asset. The mill is sitting there with a low capex restart. That will pay for Coyote and Kal East over time. They made this all very clear when they bought the assets. The grade is in Paulsens and Coyote and that is critical to hit solid cash flow asap.
I understand that people want production today. BC8 is heading in that direction. Many of these other lower grade gold assets are trading well above bc8 and show no chance or sign of going into production. To build a mill today, is a 2 year hell ride. Buying these assets has effectively saved time, and money in the longer run. Why would anyone pay twice the in ground value for those sorts of lower grade, unpermitted, zero infrastructure plays is beyond me. People think size is everything and dont really understand. Both Silverlake and NST started this way. BC8 has done deals with both those companies. Its a formula to success. I will take grade over scale in the early stages every time. BC8 has done all this with 270m shares on issue and cash in the bank to keep going. These things never go in a straight line.
They don't make misstated milestones. They are very conservative management team. People even moaned about paying management at times. Maybe they should just work for nothing! It gets weird in the small end at times. You get an update on every announcement. The company is in ongoing discussions and that does not mean a deal will happen. Perhaps people keep changing the goal posts or the price is not right. If its not a good deal, walk away i say. It would be nice to see a deal done, but it wont stop them turning on Paulsens. The gold is worth more to bc8 with its own mill any day of the week.
Time bugs everyone. I reckon many people dont have any idea how hard this stuff is. That is why management is everything.
PS. No one is going to sell this on some lowly bid. They would be dreaming.