Email from MD, Graham McGarry on the 6th October:Fellow...

Email from MD, Graham McGarry on the 6th October:


Fellow Shareholder,

Obviously, shareholders in gold producers and explorers are disappointed with share price performance of BCN and other players in the same game.

Punters focus has been on lithium and to a lesser extent rare earths.

I thought it appropriate to bring to your attention the performance of BCN against other listed ASX shares in the same or similar space.

In my view BCN have performed OK against other players and a table is presented.

Although NST have fallen, the “fall” is lower than the listed remainder possibly buoyed by dividends and a buy back.

We are conscious of the key ingredients (dividends and share buyback)!

Below is a summary of “news flow” over the next 6 months and relevant comments by Far East Capital.

I believe BCN is now in a strong position.

• Established stable cash flow business
• Debt free apart from machinery finance
• Has paid dividends
• Pays income tax and is able to pay fully franked dividends
• Salaries are not excessive and it is not a life style company

News Flow 23/24

• October 31^st production and quarterly reports lodged
• November 5^th Peter Stachan report (no recommendation) on web site
• November 16^th presentation Down the Track Forum Kalgoorlie
• November third week Decision by Timor Leste Government on tenders for 2 areas totalling 6 concessions (+250sqkms of ground prospective for copper)
• November 23^rd presentation RIU conference Perth
• November 27^th BCBN AGM Perth
• January 2024 Lodge production and quarterly reports
• March 28^th presentation Argonaut Singapore conference with a focus on copper if TL concessions are granted