STT W/end Lounge 11-13th July, page-86

As I have kept you all up to date about BML since Feb/Mar, so here we go with the latest developments....

Xrf results from Mad58 announced which intercepted 37m of variable sulphides...
Massive sulphide zone range from 0.11% to 10% nickel.... Majority of readings 1%-5% nickel with number of reading 78...
semi massive sulphides range from 0.05% - 6.06% nickel.... Majority of readings in the 0.5%-2% nickel with number of readings 102...
disseminated sulphide 0.00- 3.13% nickel... Majority of readings in the 0.1%-1.00% nickel with 199 readings...
malachite zone 0.01%-0.16% nickel but copper range is 0.01%-9.5% cu with 25 readings....

Mad58 and Mad29

Mad29 returned 1.71m @ 2.21% nickel and 0.55% copper and 3.73m @ 1.31% nickel and 0.37% copper...

Mad58 has cumulative 2.58m of massive sulphides with nickel values in excess of 2% nickel..... I know these are hand held XRF results with lab results due in coming weeks... But these indications are suggesting that lab results may be better than MAD29.... There are also semi massive sulphides returning heaps of nickel value above 1%.... And all sulphide zones are below 100m in depth and good width.... Important to note that the width has been increased from 21.4m to 37 meters since the first announcement after TRADING HALT....

Lets analyse MAD57 which intersected 30m thickness including 6.24m thick massive sulphide zone from 90.32m and another thick massive sulphide of 6.85m from 112.27m... XRF results due soon.... This indicates that Mad57 may have better nickel grades as compared to Mad58 which has brilliant grades as well...

I think ( I may be wrong) that Mad57 can be compared with Mad30 who also has better grades than MAD29
4.78m @ 1.72% Ni and 0.55% copper and
0.8m @ 2.48% Ni and 0.94% copper....

As said before, these holes were initially drilled to test compatibility.... I would be surprised if this ore can not produce nickel... Considering in mind our JV BCL is already on a hunt for project acquisitions... They are considering to buy a mine which has 400 million tonnes of resource with average nickel grades of 0.33% nickel.... Does it make us a good buying opportunity? A take over May be sooner than later?

Well, I am hanging on to my shares... I am not a geo but indications are quite positive for me when I join all the dots...

cheers and all the best