Ann: Half Year Accounts, page-8

I understand that the starting date for trial mining will be contingent upon approval of permits/licences with some items as at 19 January, 2018 requiring resolution or clarification. The January 2018 presentation indicated that the trial mining licence approval is anticipated in 2nd & 3rd quarters 2018. Possibly the outstanding items from the DNPM (Mines Dept) have been expedited which would be most excellent news.

Commencement of trial mining will address the thorny issue around the use of a non-conventional extraction process which has dogged other companies. It may either confirm the viability of the proprietary extraction process and the immense value of the Tres Estados and Ema deposits or lend weight to the innuendo of modern-day alchemy and cynicism about whether BBX can translate the method into an economic commercial-scale processing plant.

It appears to be clear that the Directors not only expect trial mining will prove the viability of the extraction process but also to generate cash flow (and shortly).