is this tirning point?, page-4

June cash was 3.12m, Sept qtr expected outflow was 620k, so would expect 2.5m left by end of September, and that included 400k of exploration, so we know that drilling is cheap in Mali and can go a long way, definitely enough for our December campaign to be completed and analysed and IMO even enough for another round of drilling etc after that, then its back to rattling the tin.

Regarding waste, im not 100%, but what I do know is that it would be low compared to benchmark in the industry. I say this with confidence as the ore deposit starts at surface, so there is little overburden to remove before hitting pay dirt, there would just need to be a focus on wall pits which will form part of the ore/waste ratio. Having said this though, the actual layout of Ntoila Central ore body is linear and appears non complex, so id assume this would have its logistical and economical benefits also.

Regarding the overall mines viability, Im a strong believer we have a project already. That's why im invested in BGS and will continue to snap up what I can at these prices I personally believe its ridiculous. Call me a ramper, but if u take the 2.5m of cash of our MC, that's an EV of about $7m!! I wont even go into the strengths that we have that will help me justify what I believe we are undervalued, coz I want more to myself, but I just think this time, the market has it wrong. I dunno, but im an opportunistic type of guy and right now, its a scream of opportunity here for me at least. I understand that BGS has its risks, (no defined resource, sovereign risks), but we are countering this already through resource definition and partnering up with big companies that have a lot of pulling power in Mali, I believe we are mitigating these.

IMO, KJ is scouting around our geochemical targets looking for highest grade first, because grade is king if metallurgy is non-complex. This is one thing we have not proven yet, but the alterations we have intersected would say we are on the right track for the Morilla mine to process our ore. This will be a catalyst for SP increase, a key driver IMO. So we have targets at Kondji, Ntoila Sth, Boa 1 and Boa 2 and more, however, I believe KJ will scout these targets for some high grade stuff, then systematically define each prospect based on grade, then build the case up to process. We could easily have 2 or 3 small pits (forming a large operation), of higher grade ore being processed at Morilla, and why, because all our prospects are within 25km, I mean, I can run that far and it aint far.

Personally, we haven't seen the end of the gold price appreciation either, those that say the gold price has no effect on BGS just now, IMO are dreaming. If you woke up by years end, and the gold price was $2,000 per oz, that would remove any cloud of speculation that BGS has no project, it makes both parties profit share more worthwhile, and yes, then gold price could easily change between years end and production but that's why companies invest, to take on justified risk, for future returns. The higher the gold price, the easier to justify, easy as that.