Ann: Proposed issue of securities - BNR, page-53

Very nice to be on the right side of the options for sure. Very generous.

It is fair for loyal holders patience.

Maybe a little generous to replace the options for the big boys as surely some of them would have been sweeteners on Capital Raises. They know the risks better than anybody if their options were to expire.

Anyway, the large entities who have held or added have shown patience also, so why not replace them I suppose. We need big players involved to raise cash so they must be looked after. Especially old mate Robert Martin, we don't need him leaving.

Lets see where the future takes us with BNR.