Big fall for Bolnisi, page-3

Bolnisi Gold - fpo and ops I guess no-one else is watching this, given only a single reply (thanks sevie). Having done some research, I have picked up some BSG and BSGOA and believe the following factors indicate significant upside potential:

1. Roseby Copper Prospect
This asset was acquired at the right price and has appreciated in line with increases in the Copper price. Drilling currently underway to firm up resource definition and metallurgical testwork offers scope for an almost immediate revaluation of this prospect.

2. Georgian Operations

Gold production has proceeded according to plan with the probability that Q4 will exceed 24,000 ozs. At this rate, monthly attributable profit is likely to increase from the historical $500k to $750k. No adverse sovereign or technical issues have been identified going forward.

3. Ocampo Silver Prospect

Again, BSG farmed into this at precisely the best time. Since then, Gammon Lake have succeeded in raising more cash and have increased their capitalization by a factor of three(to A$M70). Bolnisi now believe that increased grades will result in CIP being favoured over heap leach and drilling is currently underway to validate the resource and facilitate more met testwork.

GAM.TO are also drilling their non-jv ground, which, although this does not benefit BSG directly, will improve project feasibility significantly if successful. The info available on, and recent appreciation of Gammon Lake was probably the deciding factor on my entry into BSG.

Ocampo will be a mine fairly soon, and has more reasons to succeed than to fail. The split between Au and Ag also provides good exposure to any price increase in either, and importantly for me, any explosion in the latter. BSG is definitely would the research, in my humble opinion.

Cheers, Nick