Hi Towie, I genuinely hope that I am wrong as well - if the...

Hi Towie, I genuinely hope that I am wrong as well - if the current management can make a success of mining, then good luck to them. Successful mining stories and companies are the lifeblood of the junior end of the Resources sector. Without companies like Sirius and Sandfire and plenty more then there is no incentive for investors to take a punt on exploration and drilling. My beef is with the non-genuine parts of the corporate sector, who do us all a disservice. In this case it was a blatant play to take over a company with too wide a shareholder spread who left itself open to a grab by a small group. The Ramelius sale was a real gift - I am thinking that they are probably happy that it didn't eventuate - for your information the average price per oz paid in transactions for gold properties in WA over the past 6 years (and accounting for changes in Au price), is between $28/oz and $35/oz. The Ramelius offer was valuing the BCN Resource ounces (80%) at $96/oz........ and this is not taking the royalty stream into account, or keeping the exploration ground.... So yes - it was a ripper of a deal. The current management have no technical experience, spouted a lot of baloney at the time, and with the help of Southern Cross Goldfields stopped the sale and rolled the board for their own ends - principally because over half of the shareholders didn't bother voting. They have therefore screwed the ordinary investors who actually make up over half the stock. All of what I mention above is in the public domain if you know where to find it.

So again Towie - I hope that I am wrong, but time will tell, and to be honest the silence from current management has been deafening - simply because they now realise that they are in the same spot as management 1 year ago, just now the share price is lower, more shares on issue, and they have painted themselves into a corner - and there is no Ramelius to save them this time.

And finally, to the suggestion that one rings the current management to find out the reason for the drilling - heck I can spin a line as well as anyone, but the fact remains that it would not have made any improvement to the Mineral Resource estimate - if anything it could have downgraded it - I look forward to any Resource updates. Therefore, whilst I agree with the diamond drilling for geotech, the expenditure on RC drilling was a waste - an effort to get some speccy high grade hits to ramp the share price before this current capital raising (look at timing on announcements).
I am happy to sit on the sidelines and observe, I hope that investors will find a reward, but I doubt it, and that for me is the biggest con and disservice to the integrity of the many good companies and management who are trying to do the right thing.