This outcome is definitely above expectation. For someone who do...

This outcome is definitely above expectation.

For someone who do this every day of the week , week after week- The quantum , pricing and terms of the debt facility from Trafigura is outstanding for a mining operation. This is the value that BB brings to the table.

These are some forward looking bullets:

a) Sources of funds: 100m Debt, Cash flows from Mining services , 41m existing cash. Uses of funds : Currently only need ~$50m for Woodlawn which means BB has another ~100m for growth projects (SS, PD)

b) It gets better: There is a provision for 20% offtake to be diverted if there is a sell down. Knowing BB - There WILL be a sell down. That will inject further cash into the business and reduce our share of capex for WL and SS.

c) There is little doubt that with our underground capabilities the construction and ramp up risk is manageable.

d) Commodity prices (Cu and Zn) are looking really good going into next year


All these are pointing to a very handsome TSR. A very happy shareholder - Thank you BB