BBR AGM, page-42

The Short term is looking decidedly bearish my friend and I am currently a long way from feeling comfortable with my investment.

That old adage comes to mind Whatsnext, the company is worth what the market is prepared to pay. I have watched this thing trade from 80 odd cents down to 18.5c and she aint finished dropping yet. The way things are going, I wouldn't be surprised to see the sp fall to 10c. The fact is, we have no details regarding how much vein graphite is in the ground at either Queens or Kingfisher. Without that, we can't even begin to discuss offtake agreements with potential customers. There is absolutely bugger all support at the moment and that goes for nearly every graphite miner. The big boy in town (SYR) is now below $3. That speaks volumes about the sector generally IMHO. Added to that is the fact that China's economy is getting worse, not better, so expect little by way of support in that regard. Whether they like it or not, that downturn will affect every other country in Asia.

As has been mentioned by myself and some others, the lack of movement over in SL and the lack of any cogent news is certainly not helping the situation. Apart from the problems associated with 'island time', operations/preparations over there are simply not moving fast enough. Whilst I am not blind to the intricacies of land access agreements and governmental red tape, the company needs to be doing more IMO. Quite clearly, it should be no surprise to those with a level head that limited progress = lack of interest in the company which = sell off in shares. Share Trading 101.

So far, we are looking at approx. 7 months of DD at Queens Mine and what has actually been achieved in that time? As the company have indicated, DD will necessarily involve extensive drilling. For crying out loud, the drill rig hasn't even arrived on site yet. This might be the longest DD operation in the history of mining!

Into the bottom drawer she goes. Apologies for the rant.

DYOR

Biggles