MM2012, if you have a read of the BNR Annual Report that was...

MM2012, if you have a read of the BNR Annual Report that was released to the ASX by this new board, you will see that they have changed their tune somewhat about fast track to production.

Suddenly in fact they are a) claiming credit for the excellent work done by the previous board in establishing a resource and completing a pre-feasibility study, and b) reverting to the previous board's eminently sensible strategy of adding to the resource ounces and the confidence categories of ounces, rather than embarking on their ill-advised immediate rush to production.

In other words, nothing new has been added by the change of board members, other than the removal of a capable and proven team with a very creditable track record, and their replacement by an untried board, who promised one thing but now appear poised to deliver something less, and certainly not immediate, profitable gold production.

The declining share price since the Annual Report clearly reflects this.



(Do not act on anything I say. I am not a financial adviser and this is not financial advice)