@DonnychongManagement have spent the Company's funds wisely on...

@Donnychong

Management have spent the Company's funds wisely on projects and have struck some pretty handy deals that have kept dilution to a minimum. No Doubt and kudos to them. They have definitely tried to add value for the shareholders.

When it comes to "these guys aren't in this for salaries", I have a slightly contrarian view. Salaries are one way that Boards and Management can remunerate themselves, however there is other ways that they can benefit without showing their remuneration as salaries. This is shown in the recent DIRECTOR'S REPORT - C. REMUNERATION OF DIRECTORS AND KEY MANAGEMENT PERSONAL contained in the recent ANNUAL REPORT.

TOTAL REMUNERATION 2023FY

• $319,265 to P Poli
• $284,092 to R. Martin
• $134,291 to K. Muller (appointed 03/02/23)
• $94,536 to N Bassett
• $52,385 to D Prior (resigned 03/02/23)
• $100,186 to A Chapman
• $388,899 to M Czar

Total remuneration for Directors & Key Management Personal for the 2023FY was $1,373,654. Mark Czar (BNR CEO) was remunerated $388,899 alone. A bulk of the total remuneration paid was in the form of Share Based Payments. The Options used as remuneration have a strike price of 18.5c. This strike price may even come into effect as early as an announcement of a drilling permit being awarded. In reality the share price fell from the mid teens to 6c during the 2023FY. This after reaching an all time closing high of 27c during March 2022. Yes, I know this all time high was due to the hype of the drilling permit (we are still waiting for) and a bull run for Lithium. I suppose what I'm saying is that these options with a strike price of 18.5c could be viewed as a very kind and achievable remuneration. I guess they may just be a pre-emptive reward for the sale of BNR's rights to Geko Mine royalties. I would prefer Performance Based Shares based on Discovery Milestones not Share Price Milestones. Eg: They prove up a resource and then they should be handsomely rewarded as this will in turn possibly be a long term "Company Making" achievement.

I'd say that the Directors & Key Management Personal are being paid very well to perform their duties. Anyhow, that's just my thoughts on remuneration.

Agree that they have kept shareholder dilution to a minimum. Agree that the BNR Board & Management are great value hunters. Agree that Mark Czar responding to shareholder emails is very professional and courteous.

We are still here waiting on the permit which has been proven to basically be out of the hands of the Board & Management.

Lets face it, the drill bit will do the talking when it actually starts to spin. We know the rocks chips are insane, we know that there was spodumene (also lepidolite), we know where the lithium targets are and we know the initial met work provided excellent grades and recoveries.

We just need to prove we have a resource.

All the best mate. You have shown great patience. I hope you are handsomely rewarded too.