Hi CW, Thanks for your informative posts. In another post today,...

Hi CW, Thanks for your informative posts.

In another post today, you referred to the work done in 2019/20.

Like most other holders, I have been at a loss to understand the market's valuation of BRB. If we look at the value of the in situ metal and consider the value of Manna to BRB as it unfolds through GL1, the SP should be much higher than the current price.

Your comments regarding the work done in 2019/20 reminded me of BRB's presentation to the Precious Metals Summit in Sept 2019. It was around that time that my BRB research was leading me to consider buying BRB shares. What was memorable about the Sept 2019 presentation was that it stated that the PFS was underway. It highlighted that the Mining Lease was granted and that PFS was complete for Metallurgy; Geotech; Hydro; Enviro; and Geo.It also stated that Mine Engineering - Open Pit optimisation, design and scheduling was in progress.

What's more, the presentation highlighted that the DFS status included completion of Metallurgy with Geotech pending, Hydro pump testing imminent and Enviro ongoing..The presentation then trumpeted that the Open Pit PFS was coming in October 2019 with a BFS targeted for Sept. Q 2020.

I highlight all this as it helps understand why the market, seemingly has little interest in BRB.

When Peter Cook joined the Board half a year ago, we were led to believe that this would lead to the completion of the earlier studies that would lead to mining. IMHO, the deafening silence on the PFS/BFS since September 2019 helps explain the current SP.

What I can't understand is that if all the work had been done more than two years ago, why are we still waiting for status reports on the start of open pit mining.

Cheers
Mulac1