Ann: Quarterly Activities Report and Appendix 5B, page-21

I disagree... although it is hard to be positive with such an appalling SP. I think they've done a lot over the last 18 months (despite what the SP says), and they need the $$$ to do it. Until they can prove up what's in the ground, quality of material and costs, they will have very little control on the share price in particular with the current sentiment of coal, and the retail market in the small caps.

In recent email correspondence Mike recapped what BMB have achieved (as per recent announcements) which when read as outlined below, to me, really does not reflect our current share price.

"We have picked up three excellent projects (two of them for free, the other one for a steal as the PFS will show), we have cash in the bank from a major league supporter who has already paid and/or committed $20m to Balamara to date, and is unlikely to watch that disappear without supporting us all the way.  We have 2Bn tonnes of high quality coal in a safe location that others dream of having, a great diversity of assets that we are progressing very nicely with on the ground (drilling campaign) and we will have good news flow on that shortly"

He also reiterated when and what news flow we can expect:

"Mariola PFS and Sawin JORC resource completing this Quarter, and hope to compete the Nowa Ruda drilling programme by end of March as well, and get new JORC  on that also. From there we move to DFS on Mariola, and a PFS for both Sawin and Nowa Ruda (Albeit by end of the year)"

If following the announcement of the above we don't see a significant re-rating,  I will reconsider my position a lot more seriously.