Vargas, it is just that type of analysis that drove my broker in NY out of BCMD for now. BCMD got some needed cash, but it was a situation from desperation, and BCMD could have given up the farm. They did not. They came out pretty good considering this. THEY HAVE BROUGHT UP NO GOLD TO DATE. Everything we have heard, including my brokers, is simply rumor. BCMD right now got all that we know without anything to show for it but a couple hundred ounces of gold that fell out of one pillar. From a factual perspective, that is all BCMD has done. If/when I get back in will be the time I am willing to bet that BCMD will find significant gold. Without seeing the data, they have nothing!!!
We were all looking for a quick run when JV was announced and we got it. Many shortterm traders were looking for it, too, as is evidenced by the stock slide after news. I thought long-term dreamers would hold the stock at above 1 1/2, but when we broke through that, that told me and my boy in NY that even the dreamers were selling. That was the time to get out. Why the stock slid to 1 5/16 before bouncing back is beyond me. Perhaps someone came in to try and save the day at the end of the day, to make it look like BCMD could salvage a base after all, then shot to 1 1/2(easily a deadcat bounce) and allowed many who did not get out earlier an easy exit. Hence the selloff to end. The second round of hyping the stock is over. Next up is the gold. There will be hype from all sides, and the stock will grow again and spike when/if anything comes out. That is the bet and NOONE, NONE OF US, know what that report will bring. I don't care who went to what mine. Noone knows what they will bring up. Of course, some of us may get insight into when a report will be coming and that is when the real bet will be placed. That is why this thing is not over yet. People still want to know, what do they have? The day the announcement comes will be a tough day. Either we begin a long-term move higher on good news or this stock tumbles to nothing on no finds to date. That will be tough-do you sell when the pre-announcement movement puts us around 2, or do you hold on for the potential boom? I held on this time, because I knew we had something(I was hoping) more coming, till we broke down through 1 1/2. This is a PENNY STOCK, and I have made more money in this stock than I ever dreamed I could in a penny stock. If I never bought again, I would be just fine. I guess many who are holding are in the loss column from buying over 1 1/2. If you are not, I don't know what to say to you not selling major profits from a Penny Stock. Remember, there are no fundamentals, and we do not know the details of the deal with Sterling. If they decide that this first payment is the last(again we do not know what the contract states), then BCMD will need more private placements to stay above water, and we again are on the verge of bankruptcy or a reverse split. Has anyone asked why PR never told any of us that they did a private placement in October? I know I asked Lionel if BCMD could sustain operations this quarter and he said yes, yet they paid for some bills with stock. That is not sustaining oneself for the quarter. I think PR was dishonest in telling us their financial situation prior to this JV deal, which is probably why they announced the deal on the heels of the 10-Q report. It was perhaps this 10-Q that displeased some. I was not pleased with it. They did mining during September and had no revenues. That is no good. I know tech, maybe they used an accounting trick. I don't think so. How can you say we mined x ounces of gold in the first quarter, but we are going to put that activity on the second quarter? Doesn't make sense. Looks a little fishy.
My broker may have been right. Perhaps he heard the JV deal from both and added to 31 million and heard of another coming with diamonds, to put it over 35 million. I don't know. I would not buy at this level. I think, without news, we'll go down some more. There is no buying opportunity until we know some more facts about what they are doing. Looks like Jim wants to go deeper to find gold, so I guess that means that Pillar #4 is not worthwhile? I do not know what to read into that report from the Sac Bee. Nevertheless, it has been five weeks since they have announced significant finds, and they have been mining since September, with no real updates as to what they have actually extracted except for the rocks that fell out of Pillar #1. Overall analysis, mostly influenced by stock drop, is why I removed my position. I will contact Lionel on Monday for more information.
Just keep in mind what many were saying about this stock when the JV news would hit. I had realistic goals of 2 or 3 and we did that. No 10, no 5, no whatever. It was hype people and many who bought on it were duped!!! I was simply buying on the wave of anticipation of news and the wave came in as expected. Next wave may be greater. We'll see. I hope some of us have learned the ways of the hypers. It was clear to me that many were hyping, including my brokers, and Lionel. "November to Remember" Anyone else hear these words from Lionel's mouth? Yes. I did. Yet I never heard that BCMD did a private placement in October or paid for bills with stock in NOVEMBER!!! Keep this in mind next go around. Kept his mouth shut allright, about everything we needed to know about the bad condition this company was in.
Darlene, would love to hear your assessment of the damage. You have been a valuable contributor to this thread, yet you have said nothing since your partying Thursday night. What is up?
4 institutions still holding according to that website.
Just remember people, I have been saying all along that this company needs to find gold and bring it up, plain and simple. I need to get back any confidence I had that BCMD will be doing just that.
Miller |
