Ann: Exploration Update, page-39

Seems you still really have no feel for what’s going on here. So what, you’re a mining engineer you ask? Engineers can struggle to think outside of the box sometimes. BBX is definitely outside of the box in a big way. You’re missing the point on most aspects:


“Trial mining is not exceptional - it is a common prudent pathway for geologically complex projects..”

It’s not geologically complex. The high grades are atypical for high grade gold deposit: the gold is disseminated, relatively uniform and widespread. The mining side of it will be like mining iron ore (at a small scale for now) with minimal grade control required. They could mine 10m benches but there’d be no point right now because processing is the bottleneck.


“the fixed costs are usually so high that there is no profit. “

You use the word ‘usually’. You can’t compare this to a typical gold mine. ~$5,000 – 15,000 of contained gold per tonne plus silver and PGMs should cover all conceivable costs and generate massive profits.


"You will probably come back at me suggesting that the grades will be so high da da da… but save it, I don't buy it."

You don’t buy it although it’s described in the recent announcements. It’s not me just making stuff up. Everything I say is based on the evidence at hand. Our deepest (50m) hole drilled by the side of the road averaged 53g/t to EOH. Bulk ~150kg rock chip samples have gone up to 360g/t at Ema, 297g/t at Adelar, 207g/t at Tabocal


“You can’t build a mine if you don't have a mine plan.”

Have you taken in anything I’ve said? They have a preliminary plan. The details are coming. Building a mine will at a guess (IMO), involve of digging a small quarry the size of an Olympic swimming pool and installing a small crusher. It doesn’t take much planning. Looking at Google Maps - there’s a river loading facility 100km away via the national highway which allows access to the rest of Brazil’s industrial facilities via their massive barge transport network.


“ that doesn't appear very evident right now in the info in the public arena, other than the trial mining.”

Trial mining at 100Ktpa at 2oz/t will bring in 200,000 oz/pa. That’s good enough for me for starters. The gold pours will pay for the subsequent production upgrades.

Time will tell, and will demonstrate how wrong you are.