Executive Chairman, page-37

Some solace and enjoyment is derived from observing not so subtle posts on hot copper. Some of the tactics used are boringly predictable. EG: Down ramping is often prevalent when the expectation of a positive AGM is imminent. Sure as eggs, in BSR, Anns have a consistently boosted the SP. Sometimes just a single Ann and a 10 to 15 % rise, quick profit and then the SP drops slowly over a few months. Based on current ramping, something good is imminent.

The chestnut about Alex's health however is an unpleasant approach IF used to cast doubt on this stock. It has been raised twice already this year. IF the post on his health was genuine ( knock me over with a feather) my apology for interpreting it as a stinker. A person that works through troubled times like Alex did, quite a while ago, provides a statement on his commitment. Much more a positive than a negative.

The best way to down ramp this stock is easier to find. The company has demonstrated an inability to have a plan that covers all disciplines in the game. The mining equipment should have always been on the critical path. How can there not be published timelines for mining equipment in situ months after approvals and finance? Simple, the focus was not on engineering. Relationships first, big tick, finance essential but an enabler not an outcome. Engineering leading to safe, environmentally conscious delivery of product for profitable sale is the outcome and we wait and wait and wait on this now when the method of works plan should have been developed ages ago. We all sense it is about to change but that is the reason this SP is stagnant. My wariness is tempered, in hope, that 2019 delay is attributable to managing risk in contracting delivery of equipment from China for use in remote Africa - critical parts and spares etc.