incentives

Hi all,

Had some time to kill so decided to look through some announcements and see how much motivation and incentives there were for the directors of BGS.

Putting aside normal remuneration I had a look at the announcement of 18/12 2013 Appendix 3Y - Change of Directors Interest.

This is how it goes:

Kevin Joyce
10,230,000 F/P
8,000,000 Options @ .02 Expiry 11/12/16
8,000,000 Options @ .021 " 12/12/17

W.Willesee

3,000,000 Opt @ .02 Ex 11/12/16
3,000,000 Opt @.021 Ex 12/12/17

H Bressner
8,730,000 F/P
3,000,000 Opt @.02 Ex 11/12/16
3,000,000 Opt @.021 Ex 12/12/17

Total 47,030,000 if all options are exercised and a total of 6.48% of issued shares on currently issued F/P shares. (Some dilution after recent placement.)

Now where does the share price have to be to make their holdings REALLLLY worth something. Obviously over .021.

The advantage is they have time on their side with the expiry dates. Further they are not after small pips, they want large gains based on a rerated market cap.

This is where their interests are aligned with long term holders of the company, The more they make for shareholders the more they gain themselves and vice versa.

The last top 20 shareholder list I have seen has this group holding 38.45% of the company with Sprott being the dominant shareholder on 13.14% (Date 13/09/13)

It seems to me that should the plan that KJ has in mind come to fruition and multiple deposits are delineated we will not be looking at the share price in terms of "can it hold .02" it will be what the hell was I thinking when the market cap was only 12 mill. I should have been doing not thinking.

Moreover Sprott aren't here for some pennies I would suggest but are investing because they see the bigger picture and are patient and supportive of the plan and like the space BGS has placed itself in.

So do I.

BTW nice volume on Friday.

Good luck all