C'mon Revitup - time to 'rev it up'. Since you only post on...

C'mon Revitup - time to 'rev it up'. Since you only post on Beacon to promote new management and bag previous directors, seems likely that you might have some good info on how 'well' things are progressing? Give any punters still left in the stock some insightful proposal on how current management propose to 'dig' some value out of Barlee.

We know that they were down to $438k at the end of the June Qtr with ‘forecast’ of $300k for Sep Qtr. After paying for the drilling, I will bet you that they will probably wouldn’t have enough left now to buy you a coffee – in fact I’ll bet that Beacon has some creditors waiting to get paid from this raising. So lets have a look at what this penny broke company has achieved this year – apart from knocking back the Ramelius offer and rolling the former directors?
The drilling announced in September was a complete farce – 23 RC holes drilled – only 15 of them intersected anything over 3g/t (and it needs to be that to mine in a remote location with no mill), of the rest another 4 of them just tested the supergene – that portion from surface to about 25m that has already been turned into a pincushion….. so we are left with 11 holes out of 23 – which returned exactly the same grades as have been reported over the last how many years? And don’t forget thank goodness that screamer of an intercept in the geotech hole…. What was it... 2m at 11.5g/t, and 2m at 4.7g/t from 104m and 109m….. well WOW – that’s really going to light up the project isn’t it? But of course it is “the deepest indication to date of the down-dip and/or down-plunge of the Halleys East mineralisation”. In terms of commentary on the drill results, I’m a geologist with 20 years experience in gold mining and exploration in the Goldfields.

So given that BCN probably already owe money out of this raising and its now the end of October – we’re looking at lets see…. Another raising by February next year? Don’t forget that they’re going to do exploration and sterilisation drilling, water bore testing, heritage and site surveys, metallurgical test work, geotechnical evaluation, pit design, resource evaluation, contingent expenses and provide for additional working capital. In addition the Funds will be used to acquire certain capital items including a site motor vehicle (which will of course be driven around Kal, and parked at 144 Vivian St Boulder).

And do you know what will happen after all of these works (bear in mind that they don’t have enough money to do even half of it, and they have to pay themselves as well)? They’ll come to the same conclusion as the previous management…. that the damn thing doesn’t make bugger all profit for a significant risk with no upside. This is why I bailed from the stock after the Ramelius deal was ‘stolen’ from shareholders.
So really now Revitup – I (and maybe some of the independent punters that are left in the stock) would love to see your positive spin on things.