Please Shammymoo: give us a detailed breakdown of how you come up with a price of $40 per share. I want some of what your smoking. By the way - it does not matter whether this "mine" is in the U.S. or not.If you think that really makes a big difference, you have obviously missed many a home grown scam.(I am not saying that BCMD is a scam, so save your emotional responses please)
We are now getting into the phase where the facts - rapid price decline - is denied, rationalized etc.
People - given the current decline in gold price, the fact that many other gold stocks with proven reserves are trading down at their lows, not to mention many other small exploration plays in various phases trading at very low prices, what do you expect? You had a good run. Some caught it, some missed it. Thats it.
As for real valuation - who really knows? Nine million dollars is not a big deal however - re developing gold mines.
Its getting in my trading range - but I suggest a good look at many other similar situations.
Why do I say this? Many exploration plays that were trading high are now in the penny range. IE they are at their lows. BCMD is not at or near its low. Not saying it should be, but when market sentiment is this negative, re gold plays, ALL SHIPS SINK , the trick is to buy the best deals at their lows.
It is definitely possible for this situation to drop much further, believe it or not.
Eric |
