Ann: Quarterly Activities Report and Appendix 5B, page-25

Split the BC8 assets up into 3 main groups.

1- Paulsens (Mills, camp, 232k oz @ 2g/t) Everything is open. Has a High grade component.
2- Coyote (Mill, camp and 645k oz @ 5.5g/t) Everything remains open. Has a high grade component.
3- Kal East. (2 spare mills, 1,294k oz @ 2.1g/t) Everything remains open. Has a high grade component.
Australia's no2 Antimony mine as a bonus. Mt Clements remains open with a 1km open undrilled strike between each ore body.
Management have a 3m ounce target on the three assets. Any major new discovery would be on top of that. Reginal drilling is to start soon.

The exploration upside on each asset is as good as it gets. Refer to the recent announcement.
The replacement costs of the Paulsens/coyote mills is $140m on its own. Kal East has 2x mills and the replacement cost of those would be $50m min. Infrastructure replacement costs are heading towards $200m

If we took the average of $74 per ounce for our peers x 2.2moz = $164m. Dont forget, that number refers to companies with far smaller grade than BC8. BC8 also has infrastructure on top. It is worth a lot more than that per ounce. Coyote is one of Australia's highest grade open gold deposits. A surrounding mill paid nearly $600 per ounce for Spectrum at a similar grade and a lower gold price.
I guess if we screw around with these numbers, it is not hard to see $1 as a reasonable price target. If they pull off some sort of deal with Myhree in the short term, then having a shot at twice this price is not a fantasy. Its deep value is my point. The $23m cash is also very welcome. Its not over till the fat lady sings, but i can hear her warming up the vocal cords. dyor