I met up with John Lawton in a Sydney presentation he did about...

I met up with John Lawton in a Sydney presentation he did about a couple of weeks ago or more.

I did ask him the following questions:
1. when would we expect the proposed capital raising - he replied sometime before christmas (well the trading halt is our answer)
2. when would we expect a JORC resource upgrade - he replied in the coming months to early 2012 (i asked whether this was in terms of converting from inferred to indicated resource or overall increase in JORC resource, he clarified a bit of both)
3. when would we see a maiden JORC reserve booking - he replied similar timeframe to the JORC upgrade (and hinted the figure could be around the 1m oz mark)
4. regarding AZX2 (spin-off of non-Bullabilling assets), do we get proportional shares or its IPO for current AZX holders - he replied we get proportional AZX2 shares and AZX2 will seek IPO as well (current holders can get more AZX2 under priority offer).

He repeatedly emphasize that AZX & GGB have put their differences aside and are willing together harmoniously to get Bullabilling Gold Limited to a great stage AND at current prices (at the time was around 38c - 45c) that AZX or the new proposed BBG Limited is a no-brainer as heavily undervalued for a market cap of now of $26m (for 50% of the JORC resource of 2.6m oz).

Lets wait and see what happens.

I hope this placement is to high valued investors or companies like RMS, AQG, or something like that.