Ann: Additional Pyrometallurgical Extraction Results, page-28

Todays announcement a few points from me.

*BBX has appointed Marcelo da Silva Pinto M.E. refinery to conduct pilot plant testing on up to 20 tonnes per month on a revenue-sharing basis

I might be wrong but this suggests that Marcelo may be bearing the cost if not most of the initial pilot plant with BBX having very little to no outlay for its set up and operation. They take their cut and we take ours. No dilution for shareholders and the company can create a cash flow for further exploration and plant development. Great work from Jeff if this is the case, getting into production without trashing the register. Thumbs up.

*Highly regarded Belo Horizonte consultant, Reinaldo Magalhães has been contracted to manage the application process for trial mining licences at Três Estados and Ema. A trial mining licence enables the Company to mine up to 50,000 tonnes per annum from each project area.

My thoughts of mining on a small scale by end of 2018 might be in play. Anyone care to do the numbers on 100,000 tonnes per annum at 40-50g/t AU? It'll blow your mind

*alternative hydrometallurgical process at the e-Reciclar and CETEC facilities in Belo Horizonte and at Nomos in Rio de Janeiro. Additional results have yet to be received from this testwork. BBX does not currently have access to pilot-scale testing facilities for the hydrometallurgical process where work is continuing at a laboratory scale.

So more results to come. We are still missing half the gold by pyro and a crap load of other metals. Maybe the grade will increase as the hyro process is refined? I reckon anyway


So, environmental approvals for drilling in the coming weeks and drilling to start in the next 4-6.
Additional test results for Ema and Tres Estados imminent.
Contract signed for test plant on a  revenue sharing basis.
Application for trial mining licence initiated.

This announcement just screams confidence.

Here's hoping it plays out the way we want.