Russ,
Very good and concise review of BGI's prospects. Thanks for the summary.
Lately we've seen two large orders weighing on the market. As you may be aware, BGI has two large holders of BGI stock who are very close to the 'insider reporting trigger level' of 10%. Could it be that a sophisticated investor, who is aware of this situation and feels that it was going to take a little effort on BGI's part to find another large 'bullish' backer, wanted to ensure that the stock remained suppressed so they could nibble away at any cheap shares that might come their way?? Who knows, but the so called 'seller(s)' were in no rush to dump their shares - that much is certain as those orders appeared almost daily for the last two or three weeks.
However, on Friday afternoon, these 'sell orders' suddenly just vanished. Will they re-appear?? If gold stays strong, I think they will not.
Brian
P.S. I've also been reading your overview of the gold market. I find myself in almost total agreement with your views. I agree that there will be very little 'cheap' gold found in the future and selling 'in the ground' reserves at costs below 'replacement cost' is just nuts.
Also, this bear market in bullion has almost wiped out almost all meaningful exploration (not to mention the juniors who do it best) and, as anyone who has been in this business knows, it takes more than a thousand 'discoveries' to find one profitable mine and at least 5 to 7 years, and a big chunk of change, to bring in almost any sizeable mining operation. |
