For those interested in some of the other geological background reading on the area BCN has been allocated, you might find the following link helpful. Don't worry about getting too bogged down in the terminology, just note the complexity of mineralisation and look at the proximity of BCN's areas to some of the defined zones on the mapping. Although this is a 2008 doc, IMO it has some good background reference, remembering BCN has had a geologist up in this area. The link is :-
Carbonate pelagites in the post-Gondwana
succession (Cretaceous – Neogene) of East Timor
D. W. Haig & E. McCartain
To cite this article: D. W. Haig & E. McCartain (2007) Carbonate pelagites in the post-Gondwana
succession (Cretaceous – Neogene) of East Timor, Australian Journal of Earth Sciences, 54:6,
875-897, DOI: 10.1080/08120090701392739
To link to this article: https://doi.org/10.1080/08120090701392739
Regarding the suggestion of JV with Iron Fortune, of which there is no mention of in the ANN by Graham, I think if you read carefully the actual exploration area titles F&B found, and kindy shared, you will find BCN MEL 2023-CA-ZB 004 - Iron Fortune MEL 2023-CA-ZG004 and like wise with BCN ZB 007 and Iron Fortune ZG 007 - thats the way I read it.
For those who have held this stock from way back when, this announcement is the day many of us have been waiting for, and are sooooo grateful that our two founders have managed in a relatively short time in the mining game, to have got us into a debt free, regular cash flow position, so that we can look at being in the first wave of diversification into a new and exciting area close to OZ. Undoubtedly the vision and time taken in establishing such a practical and foresighted alliance with TL Gov has been very justly rewarded.
We have a solid foothold in an exciting new area, and being financially sound, with a good copper prospects, to which gold is a plausible maybe support act, is very good position to be in.
I don't give a tinker cuss about my investment being in the SP range of 2.3 to 4.0c shares, like others here, I have shares in goldies that are bigger companies with shares in the $3.50 to $6.00 range, and none have returned me anywhere near what this company has.Junior explorers only have 2 growth options - either issuing shares or taking on debt. ATM our capital is $122M. As I have tried to explain many times before, the fund managers who control the big money are by statute and due diligence, restricted to keeping investment usually within the top 50 ASX listings - so no matter if BCN is 2.5c or a consolidated up to 50c share, until the MCap is many multiple times greater than now, it will be the small spec retail punters, that in the main are at present spooked by international financial uncertainty, that move the BCN price around, OR a big new resource - more likely to be in TL than one hell of a lucky hit in our Goldfields ground, where hard work on low grades has been outstanding successful.
But DYOR, & please, don't go making unknown assumptions about those who have taken 3.0c today, nobody knows what their position might have been, or why they have sold. They might have been tied up here since the 2c days and have decided to leave with a good profit, no one went broke doing that. And the reason no trading halt was needed, is because being awarded the exploration areas is no guarantee of any substantial change in the company's financial position - just a statement of fact - we have been awarded 6 areas. That simply added .002c to our share price - and made me very happy!!
Good health and good fortune to all shareholders, and again, a very big thankyou to our founders and their management.
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