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251 Posts.

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13/01/17

10:30

Post #: 21869519
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Originally posted by Niftiest ↑

Like it or not ?
You say BSR has sufficient funds at the moment.
I say they have no where enough funds.
What can they realistically do with what they have ATM.
Do they have enough funds to pay a deposit on the crusher & order it ?
Do they have enough funds to construct the tailings dam?
Do they have enough funds to start road works ?
Do they have enough funds to securely fence the Permit Area ?
Do they have enough funds to buy the material needed to protect the dam wall & spilway?
Do they have enough funds to do all this plus numerous other items that need also to be done?

The answer is no, no & no!!

The realality is that it will be quite some time before any monies are available from the banks.
It is possible that before any monies can be drawn it will be necessary for the banks to do their DD.

So this is my opinion of the situation & again this is only IMO
This opinion is from what I learnt from my recent visit to BSR mine site in November 2016

Like it or not at the moment the company is at the mercy of investors . IMO THE INVESTORS SHOULD BE COMMENDED FOR THEIR SUPPORT.

The chairman IMO is doing the only thing possible to progress things forward in the quickest time possible.
Don't forget that money from the banks is going to be quite some time away.

The break for the Xmas period has not helped as all business is at a standstill over this period.

Raising money from investors is his only option if he can do this. IMO

Assays have been delayed because of the Xmas break, unfortunate but this is how things have fallen.

IMO assays should soon be available but again the Xmas break has delayed these results.
Most business only commenced work this week here in Australia so I guess this may also apply wherever the assays are being done .

Patience is needed & cool heads.

It is very easy to criticise & I hope my posts has been of some benifit to shareholders.
It's always hard waiting for things to happen & they always seem to take far longer than we would like.

IMO things are happening & the chairman is now in Senegal where he can do far more than he would be able to do in Australia.

Don't forget that he is hamstrung at the moment by the lack of funds but IMO with what funds he may have we will get maximum value .
We are a very small company trying to do what other much larger companies do spending many many millions to get into production.
We are doing it on the "smell of a oily rag "

IMO we are very fortunate to have what we have & not having to start from scratch .

Remember please SH be a little more patient as things will soon IMO start to happen.

Cheers

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Have you neglected to say in your post that you are one of the investors getting shares at a discount?

BSR Price at posting: 3.1¢ Sentiment: Hold Disclosure: Not Held
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