help needed - how many bab shares do i get, page-11

Here we go. Nice JORC today, 3.2 million ounces, and that excludes Gibraltar and the Laterite Dumps, so there is more to come.

BAB will be looking at 4 million ounces in no time. It might be low grade, but there is a lot of it, and it is in an easy host rock for mining.

At some stage, I presume there will be a lot more in-fill drilling, because my take on BAB is that these guys do not intend a phased development, but rather hit-up the market and banks in 2013/14 for around $150 million to build a large plant capable of processing 100K to 150K ounces a year.

She might not be a spectacular riser, because she does not have the spectacular grades, but it should be slow and steady. It is good to have days like today though, significantly up, and on reasonable volume, with most parties coming from off-screen.

There are a couple of brokerages in Perth who are keen on BAB. I expect it will list at around 25 cents, and it will be interesting to see the action on the first day.

Gw