request from bgl to shareholders, page-9

'I do understand all of that, (but) what you don't seem to understand is that without the funding to get the project off the ground, what you have is worthless.'

Pash,

You can effortlessly dismiss every argument put forward with a statement that goes 'I do understand all of that' But….

However it isn't just my view that the offer is absolutely inadequate, it's
BAB's management,
BAB's shareholders,
the market is trading at a premium to the offer,
Westhouse say 28c
Petra say 20c and
BGL was trading at 35c 2 years ago and considerable progress has been made since.

Saying something is 'worthless' without exploitation funding is just plain wrong as most junior commodity plays would then be worthless. NGF obv don't consider BGL worthless and neither does the market. BAB aren’t at the exploitation fund raising stage either so nobody would expect them to have that in place until 'after' the DFS.

What you don't seem to understand is that much greater value will be added to BAB and therefore it’s shareholders, (which I note you say you aren't) by totally rejecting this opportunistic offer until a much more substantial offer is made that reflects the 3.75m oz resource and imo a very likely 2.5m oz Proven Reserve.