Ann: Progress Update , page-15

Hi everyone,

I couldn't resist getting in once the SP went into the 5s, so I took an opening position.

I liked the last update ANN, because I think FBX is right in that they may be able to remodel in the future with potential positive outcome re costs.

I also think TEXAS makes a great point re BNR priority number one to increase the JORC to strengthen their hand re finance.

The risk/return proposition is compelling IMO with a POG breakout. Looks like a few people taking a position in the last few days with the volume traded.

Fair sentiment for those who wouldn't want to commit any more funds pre-financing being tied up; everyone on HC comes from a different point of view re average price, investment objectives, timeframe, risk tolerance, etc. The super low EV vs the upside potential is very favourable IMO, but it all depends on how you factor the chances of achieving their objectives, thus how you personally discount that upside. And there are quite a few people on HC who seem to play in the major league vs my country bush-league position volumes that I tend to take!

All junior explorers tend largely to be at the mercy of macro trends and sentiment, but if that stays benign for a reasonable period, the good ship BNR seems to be headed on the right course.

Just a quick thank you to the posters on the BNR thread - a relatively quiet but interesting one.

GLTA