Media, page-210

That what I was referring to, but I also would include the German funds who have taken up a massive position. I have been having problems replying to Fredwah's post so what came out there was a brief sentence and I was surprised it went through TBH.

I really do hope that there are arrangements in the pipeline as you say or the inexperience of BSX board could show and would be a bit of an warning sign in an otherwise well executed plan. Don't get me wrong, I'm not one of these people that thinks a CR is the big FU to investors as most people do. It just doesn't bode well with Scott's decoupling of retail announcment early in the year.

There were some who said "thats good we are not an explorer anymore" and that was all good and fine, but if that's the case then what bloody hell is BSX then. It's not a miner, as the site is in C&M. It's not a producer as it does not have the DBU yet. BSX IS currently an explorer with 10 drills in the ground and a really good plan (a really really good plan in fact) and have been given the branding by markets, based on announcement frequency, that nothing new has been found in the ground.

So while mum&dads, day traders, pip cowboys and a board member fled for the hills (and we all know what that did to the share price), I saw this a excellent sign of confidence in the boards plan. As expected, this has removed all the volatility from the share price and left long term stable shareholding base which I'm sure has made the boards job easier getting on with the job, and given us all a great opportunity to continue investing at a great MC.

So it would come as a bit of a shock, if a dip into equity was embedded in the plan all along, as all the signs including a statement that the board did not want to dilute holdings, indicated that this would not be the case.

As we all know, retail investors bring speculation, which brings volatility, which can generate a higher return on equity during a CR and less dilution, ultimately leading to further returns to the long term holders at the expense of the short term traders. Hence why I do believe a capital raising event, to invest in capital expenditure is great overall.

But a CR in the short term after the above is taken into account to me would be a sign. Not a "all is lost, abandon ship" sign, but would be enough to begin second guessing the boards ability to see forward enough to really extract as much potential juice from this project as possible.

Jut my thought process