Another key variable which is affecting us all (esp. BAN whis does have a key, and very marketable asset): April 30 is the date I pay my two partners, Jean Chretien and Lucien Bouchard. I assume the rest of you in TROC (the rest of Canada) have similar committments. And so, therefor do many shareholders in BAN. In early January, many of us were confident of the BIG TAKEOVER, and waited so that we could get $15-$20/share from whoever. Then we would take care of the wee details like capital gains.
Not all plans work out, and we are a long way from being done here. The best is yet to come, and think about how far this little junior has come in 15-months. Can you name another junior in the midst of a 270,000-foot drill program?
Part of the downward pressure is from the double pronged sword facing the directors, me thinks. On the one hand, there are many suffering shareholders clamouring for a formal reserve announcement, as if this will move the shares 2 pennies in either direction. On the other hand is the fairly obvious fact that the blue sky potential is what really drives junior equities. Announcing reserves all but kills the blue sky idea in the minds of many.
Keep the faith,
GJM the prospector |
