You guys all seem pretty cool with what is going on in front of...

You guys all seem pretty cool with what is going on in front of our eyes.

Our new Board is just selling us out as far as I can see. I can't understand how on an update on the Bassari website we are being told on the 6/9/2022 Your directors wish to advise a Binding Term Sheet was signed on 31 August 2022,
with Bishop Resources (UK) Limited and Bishop Resources NL (“Bishop”) which will
result in Bishop acquiring all the assets and liabilities of Bassari.

Then on the 9/9/2022 we get a further update outlining the terms of that binding agreement sheet.

When we elected this new Board did we elect them with the idea that they were going to work in the interest of BSR shareholders and do everything in their power to get the company relisted and to gold production.

Or did we only appoint them to become the official receivers and liquidators of our company. It appears that is the case.

Is this signed binding term sheet a done deal. Appears to me it is, subject to a various conditions being met during the next 3months. If these are not met then either party has the right to terminate the agreement. In this event, the equity conversion of the debt currently owed by Bassari to Bishop under the existing Bishop debt facilities will be pursued.

So what in fact are the BSR shareholders being offered for their total interest in the Makabingui Gold Project. No mention of what offer has been made to our joint venture partners who have not been able to rub 2 matches together for the 8 years and owe BSR millions for there share of the costs to date. Apparently that is none of BSR's shareholders' business.

Forgetting the release of the $29.3.million for the moment.

BSR shareholders are being offered a maximum $5,000,000.00 in the form of shares to be issue by Bishop. Issue price unknown at this time but could be as high as 20 cents depending on whether Bishop has determined a price for IPO ASX listing. The main detail here is the cash amount, the number of shares is actually irrelevant at this time when determining what they are willing to pay for our BSR shares as they now stand.

Last time I looked there are 2,418,855.663 issued shares in BSR If you divide the cash on offer $5,000,000.00 by this number you get what they are willing to pay you for each share you presently own.

From my calculations that equates to 0.00207 cents per share. This could be less if the Bishop get a JORC 2012 report ( Verification of Gold Resource) showing that the whole of the Makabingui Project contains 1 million ounces of gold at a minimum grade of 2.6g/t. Otherwise the 0.00207 will be reduced.

I do not think this is a good price, but apparently our new Board does. What do you think?

For my present BSR holding of 6,616,0000 shares, the maximum I am entitled to in cash terms would be $13,676.00. At the time of delisting these shares sat @ 0.013 and were valued at $86,008.00. A drop of $72,332.00 or 84.1%. If the Bishop issue price is 20c, I would expect to receive about 68,380 shares In the listed Bishop. ($13,676 / 20 cents). If the actual cost to me of my 6,616,000 shares was higher than the last listed value then my loss would be higher.

Not a huge loss when compared to others holding more substantial shares than me. But huge for me. I recall when the company was cash trapped and looking for money someone acquired $1.1 million worth of shares. Do not know who urged them do so but their likely loss if they still hold those shares is $925,100.00.

I have come to realise that with the Board members we presently have and have had in the past, it would not have made any difference no matter how much money they had at their disposal none of them are capable of getting BSR to gold production. Shame BSR

In fact I am starting to doubt whether Bishop intends to do it either. Like our mate Mackenzie I believe their mode of operandum is find it deveope i to determine the amount of gold resource and then sell it. Not actually produce any gold. Cardinal Resources Ltd which many of the Bishop Board members have some association appears to have done exactly this when it was sold in 2021.

I will be glad when it is all over so I do not have to listen to any more bullshit. That will be a bonus in itself. I have attached a more detailed outline for those wanting to read it.

Good Luck to All