Your Directors will continue to keep all shareholders advised of further significant developments as they arise. 11/11/2021. Apart from one Director jumping ship nothing else appears to have happened.
As the new Board still has no working capital, I can only guess there has been no further progress at any level to date. How is meeting the terms and conditions of the MOU going? How are the repayments to Coris going?
How is the audit of the 2020 full year and 2021 half year going? How long is this likely to take. A couple of weeks, 6 months or 12 months? Maybe BSR cannot afford to pay for it. Listing is unlikely until the audited Financials are made available to ASIC and ASX. With it the possibilty of raising any of the much need working capital.
Apart from Bishop taking the place of Coris, together with the security on offer, I have not been made aware of anything significant these new guys have achieved to date.
Is this Bishop Resources UK (a private company with no reported net assets) associated in any way Bishop Resources NL an Australian non listed public company based in WA? Have a look at the UK company's reported balance sheet March 2020. Look these companies up for yourselves and see what you make of them and the relationship we now have with them.
What is this new Board really up to here?
Is this Bishop deal, really only going to change the name of actual party involved in any future foreclosure action. Looks like an inevitable event based on what these guys have reported they have achieved to date.
It could be likely that they have managed to snag more finance from somewhere, a million or two, but what is their overall plan of attack to get to production in August 2022. We may have to wait to the 2022 AGM in Perth to find out.
Who actually determined the new and revised NPV for the 2 pits and where are their figures to support it? During the past 7 years just how many NPV and revised NPV's have we been presented with. Just as with the previous timelines none have ever eventuated, so what makes this one any different. Can you remember Alex's much hyped bankable NPV some years ago? I am starting to think they just pull a figure out of a hat.
Like the old Board we will probably have to wait until the December 2021 quarters report before we are given any update. These guys must be so, so busy. But without any excess funds I would like to know, doing what? Probably absolutely nothing, as was the case with McKenzie during the last 2 years of his dictatorship.
Maybe, someone out there has a backdoor contact to one or more of these guys and can give us some news.
Merry Christmas and Happy New Year to All
BSR Price at posting:
1.3¢ Sentiment: None Disclosure: Held
