Ann: Proposed Placement, page-67

The Acquisition is subject to and conditional upon satisfaction of the following conditions precent:
BDI being satisfied with its due diligence on Colour Minerals and its assets, business and operations; and
BDI being satisfied with the financial position of Colour Minerals (i.e. total debt position).
KMM will become a significant shareholder in BDI, holding approximately 15.79% of the issued share capital of
the Company on an undiluted basis.
As part of the Acquisition, BDI is to spend A$300,000 towards exploration and drilling on the tenements held by
Colour Minerals within 6 months of completion of the Acquisition (Stage 1 Exploration Period).
BDI has sole discretion to determine the allocation of the funding commitment and the nature and content of
exploration programmes and budgets or other studies to be undertaken during the Stage 1 Exploration Period.
Following completion of the Stage 1 Exploration Period and subject to BDI satisfying the funding commitment,
the Company and KMM will to negotiate in good faith and use best endeavours to discuss the commercial terms
upon which BDI may increase its stake in Colour Minerals from 50% to 75%.
As part of the Acquisition, BDI will be granted the right to appoint a nominee to the board of Colour Minerals at
any time following completion of the Acquisition.
The Company will release a valuation report in respect of the BDI Shares to be issued in consideration for the
Acquisition for the purposes of ASX Listing Rule 7.1A.3 at the time the securities are issued.
The Company looks forward to providing shareholders with further updates on the Barkly Project as drilling and
regional field exploration commences.

Howdy Hawker, that explains where $300k went, $200k from Condamine sale helps but only 2/3rds of the
way there...Even buffet in one of his pre-election ramblings said BDI didn't have a board structure problem
but a capital structure problem, personally, I think the two go hand in hand, but that's just me...
In reality though, we have a new board structure that has inherited a capital structure problem.
Expecting that to be fixed overnight is a bit shortsighted in my view......There is a reason we were
trading at a value of 1/10th of 1cent, one can hardly expect a change in management to turn
BDI around in a couple of months particurlarly with a 3 week period in those months where
Australia virtually closes down.....This wont be easy without working capital......