Ann: Proposed grant of new options to holders of BMGOA Options, page-3

Well looks like many were wrong about the oppies being dead. This announcement gives holders the opportunity to roll the dice for 6 months more by paying .001 for a new option. That option will be at same strike price and expire end of this year. A great bet with drilling to kick off soon. On the flip side BMG have no cost burden with the .001 raising close to 300k plus the potential inflow of 6 mill $ at end year with oppie conversion with the potential for a re rate on drilling. This works well for oppie holders and the company by putting only a 6 month on the nee oppie which will give a short term cash injection if in the money on the back of a re rate on drilling. With frilling kicking off soon the new oppies may be well in the money before issued and holders will convert ealry. Good to see the company recognise the time it took to bring in a project and then get it all signed off for its maiden drilling. This is what sets some companies apart from others which is management.