Executive Chairman, page-6

As far as I know he is still alive and kicking and has been very busy in Senegal. I do not think is doing a Howard Hughes and decided to become a recluse. After talking to Head Office last week, I understand that Alex has spent the major part of the last 3 weeks in Senegal Involved in various BSR subsidiary meetings and as far as I know may still be there. I hope now that the finance is in hand and after all these meetings involving the construction manager and other enlisted consultants during the past month, Alex will finally be able prepare and provide us shareholders and the market in general a more constructive and meaningful report as the the present state of affairs and a more accurate timeline as to when BSR expects the plant will be fully operational.

After having waited so long now, frankly I don't care if it takes another 12 months as long as we get there. I still believe BSR has the potential to become a profitable gold producer sometime in the future. However, this being said, I suggest it is now incumbent on our Chairman more than ever, to ensure that all future BSR reports and updates are more positive and include a more in-depth, detailed, honest and unambiguous message relating to where BSR is presently at and what is planned for the near future. Stop regurgitating old news. The past is the past, leave it there.

For instance, in the last report it was stated that the dam repairs had been completed, if my memory is correct, I thought that this had been reported previously or was at least reported to have commenced well over 12 months ago. I have given up trying to relate present statements with those of past reports. Also, it was stated, that further work will be required to expand the dam during the dry season. Is he referring to this dry season which has about 2 months to go or the next dry season which commences in November 2018? If he was talking about the present, would it not have been less ambiguous to say "this dry season".

At present, given this style of reporting to the market generally, I am far from confident that the 40,000 options I have will be worth taking up come September. Maybe, we all should have realised this at take time, given that at the May 2017 AGM, when the performance bonuses were put to the meeting, Management set a time frame for themselves at May 2020 to achieve practically the same result - 3.4 cents per share. In fact, with every new allotment of shares their hurdle has reduced somewhat.

The next 2 formal reports are due possible late March 2019 being the full year to December 2018 and the next quarterly report March 2019 is due late April 2019. I only hope that after Alex having spent so much time in Senegal recently that we will not have to wait until then until he provides us with a comprehensive update re the near future events.If he reports as is likely to be the case that the order for the new plant has been placed and leaves it at that, i would appreciate it if he would also state a predicted delivery date to site or even Dakar. It would save me a phone call to Head Office.

What is everyones' best estimate for the commencement of full production? My best estimate based on what I think I know, is January 2020. I must say though, like many others when it comes to BSR' operations - I don't know too much.

AND 
The Fairy Tale Continues