Directors buying shares, page-284

I hate to be a party pooper but if the costs doubled we would be in a lot of trouble. I have spoken to Simon Noon on a couple of occasions, including after the latest announcement, and his willingness to engage with retail investors is a big plus for me. My take on the current state of play.

1) Capex has gone up (no surprises there) but is still within the range that makes the project very robust. The Capex is also based on a larger plant capacity (that pumps up future revenues).

2) The DFS will be much more likely to be finalised in late Q3 than late Q4 but that is dependent on third parties meeting milestones.

3) The off-take partners are very committed and are not being rattled by short term market gyrations. Lenders are in the same position.

4) Minimisation of shareholder dilution is a large point of focus, as it should be.

I am as disappointed as any shareholder that the DFS has not been released but the delay may be very good for the company given current market wide sentiment. I would like to see the share price well north of $0.60 prior to a capital raising. The entire precious metals market is in a slump (temporary IMO) and when love returns to the sector it will also return to BML. After that, let the news flow abundantly.