Anyone (ramper or downramper) who is thinking of taking up their...

Anyone (ramper or downramper) who is thinking of taking up their entitlement shares needs to ask themselves this question and do some research to determine the most likely answer.

Downrampers on here say it will never happen, they will never mine anything and management are not up to it. As a shareholder obviously I hope that they are wrong. Let’s look at what we know:

Management and the board purport to have a good track record in other companies of developing mines and increasing shareholder value. We haven’t seen this thus far with BML.

The current funding environment is tough and we have Chinese partners so NAÏF won’t be interested? Personally I have seen no evidence that NAÏF will be put off. And I reckon the main things holding up funding from banks and or NAÏF are a short mine life and the lead and silver prices.

So what are BML offering us to entice us to participate? The promise of a reinvigorated FEED study and better economics, the promise of near term Offtake agreements and drilling at Marrenbarrum and presumably the Keep prospect hopefully leading to an increase in resources.

My main concern is that as of some months ago BML is no longer mentioning FID. Why? Because funding on the basis of data prior to the reworking happening now was not forthcoming. There is in fact no guarantee that funding will be forthcoming! Even the prospectus risk assessment for the offer says as much. After being knocked back by the potential financiers they have changed to saying they are exploring possible funding from offtakers presumably including and possible largely from our 25% partners.

So thinking about news that might get the share price back up after this CR what is there? Offtakes and financing .. that’s it over the next few months.

Personally I will be taking up all of my entitlement plus the additional maximum allocation simply to lower my average.

H