fox davies, page-12

They have based the SP based on facts alone. Not speculation. Bogdan is undervalued as is Monty, for good reason - neither of them have finalized values. We are still drilling at both Monty and Bogdan. We had one/two drill holes at Monty confirm the high grade silver content - this doesn't prove it is extensive without further drilling (in progress). This is why Monty is only valued at ~30mil. BMB have said themselves that they are working to get a JORC reclassification, and when that is done, it will surely be worth a tonne more. Bogdan, same deal, until the mineralization is actually confirmed (we only have assay result from one hole) we can't go counting our eggs. This is a valuation of BMB right now if someone else were to purchase the company for example. It's like selling an old car that needs work - you can only sell it for $500 for what it is, not $1000 because it has potential.