Ann: Quarterly Activities Report, page-3

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Aptayl

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30/10/15

10:49

Post #: 16290158
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Originally posted by Charles89 ↑

"Field activities were reduced this quarter due to the onset of annual wet season in Mali. During this time, the Company evolved its strategy from exploration and 'building ounces in the ground'; to include an increasing corporate focus on unlocking value through the implementation of a processing solution for the Company's known deposits."

I wonder if we could substitute "implementation" with "negotiation".

"The next phase of development at the Massigui Project will comprise targeted infill drilling to define gold resources at Ntiola, Viper and Koting Prospects. This program, encompassing approximately 10,000m of drilling, would commence at an appropriate time subject to confirmation of the broader development strategy for the Project."

So how I see this is that, we are already in negotiation and we will only start drilling and using our last bit of funding when we get a confirmation from RG to process our gold there. Alternatively, once we get a confirmation, hopefully SP hits acceleration clause, releasing some money for us to drill further, but then again, for the acceleration clause to be triggered, it will take some time. Third option would be, when confirmation is announced, SP will be high enough for Kevin to do a CR to drill further?

But the tone and wording used in this report is totally different to the last or any that we've had in 2-3 years.

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Yes Charles, like I've posted previously I expect the next announcement relating to Missigui area will be a deal and this confirms my thoughts, after a deal is locked in then the next phase of infill drilling will be commenced. Depending on that deal Randgold may be nice and fund up to production considering the incurred costs to-date by BGS or we may need to contribute a percentage towards costs leading to production. Either way a deal should smash through a number of levels putting options in the money and provide an inflow of cash to BGS.

Confirmation of Domba being produced by Randgold is the big green light for BGS imo, should get a mention in Randgold's quarterly.

BGS Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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