A value of 20c is probably a “reasonable assessment” at the stage we are at. But imo the doesn't reflect what turning 2.5m oz from indicated to measured will have on BGL.
IMO declaring a huge 2.5m Reserve will add another 20c to BGL's value, which is why in the interests of shareholder value, we need to stay incontrol at least until we get the DFS completed.
I concur with the directors view, don't accept Nortons joke offer as you'll be tied to selling and wont be able to take advantage of other offers or have exposure to the DFS if the TO fails.
BAB Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
