Exploration Update, page-19

A few years ago prior to receiving the profits from their Halley's East play, the BCN directors (same as current basically) said they would give out 50% of all profits as dividends and use the rest of the money for expansion/acquisition/drilling etc.

So not only have they stated this in the past which is a good indication of what they will be doing with the profits for this mine, but you also have to realise that dividends are the only viable way for the directors to get any money out of this without causing a SP plummet.

If the directors and their close friends and family tried to sell their shares on market, there is no way they would get the full value without putting downwards pressure on the price, especially after shareholders see a "Change in Directors interest" and they sell themselves thinking something is wrong. So the only way to get money in the near term out of this is via dividends.

To me, 50% is a good amount. Keeps the share price honest when instos and other major investors start seeing a regular income, keeps shareholders happy as they don't need to sell to start profit taking, but also allows the other 50% is enough be used to expand the company.

Unfortunately, this is still where is was a year ago but days end, a lot of the registry has made plenty of profits already as a lot of them, especially the top 20, would've bought at around the 1.5-2c range. So I'm happy to sit the majority of my portfolio here and let it mature over the next few years. This is as safe as a gamble you can take with bulk dividends coming in over the next 5+ years, very little risks if any and the potential to A) turn the LOM of Jaurdi into 10+ years, B) increase the throughput and hence ounces produced and cause dividends to be even higher, C) acquire more land or companies with the remaining 50% and D) add other mines like in Timor Leste or the Transline if all things go to plan over the next 2 years. Each of those things could quite easily push the price to 10c and beyond.

AIMO, DYOR.