BGL - Share Price forecast and results, page-395

I didn't think that I would every get this opportunity to buy at 70c and happy too. A quixotic chair who own 35% of an Co exporting massive amounts of hematite at $45/t and selling is a A$150/t net back can afford to blab on about conquering the world with GWh of renewables and soon. Long-life WA gold companies however need the ability to be able to be put in place in the front half of the US$AuP cycle and run on much tighter margins over ASIC in the troughs of the A$AuP cycle and hence cannot afford experimental technologies on the main train. Instead just select a 3rd party to provide the power, demonstrate the 35% reduction in CO2 (vs DFO) and get right back to the infill and extensions while riding rough short over the EPC for an on-time ans on-budget CIL. That is what is required, a sense from the presentation that management have lost a bit of focus, and when the market thinks the US$AuP is crashing through key support at c. US$1760/oz, the market cap is halved in a few days. Nothing much material has really changed - with a risk profile that has not shifted much in this massive re-price (some schedule risk, but MAC will make them hedge in any event, so not a lot of impact to realised A$AuP). .