TO ALL;
Long in BCMD, at an average price of $1.49. I'm surely wrong, but the following scenario, or something like it, seems to me probable; "THE PLAN" of mngmnt. This scenario takes into account all the visitors have seen and validates this as a true gold mine with all the value of the promise we've all believed in. Please keep in mind the original story, the great finds and assume it's all true. Someone recently said on this thread: Poor paraphrase: Until full production ends up on the bottom line with positive earnings, this stock is going to continue at these levels. Up & down a few cents below a dollar. I believe he's right.
DISCLAIMER: This is only speculation and only my opinion & worth only that much. I have no inside info or source, it's only my opinion.
1) The price can go to down, de-listing doesn't matter except as a PR problem. Therefore PR may dictate a reverse split.
2) All mngmnt is deeply concerned about, as far as financials are concerned, is to remain legally & financially viable for now.
3) Between now & when the JV has paid all it's $16 million, there will be only one goal for the mining operations. That goal is to find gold and get set for full production. (Not to produce except when it helps "The plan".
While some production is going on; I believe it's to accomplish the following only. THE PLAN.
a.) Build in all the plant & equipment required to mine in earnest for a long time. Establish where to start first for maximum, efficient return on labor & time used. Get lines of transportation in & out of the mine established with full 24 hrs a day operations. Get the analysis & processing of ore on site.
b.) Set up & verify best methods & establish procedures for efficiency purposes. This is too keep the cost of mining & processing down.
c.) Keep investors & visitors happy with appearance of full operations & occasional news about finds & progress on this or that without revealing "The plan".
None of the above is intended to be dishonest, rather a plan to bring the mines up to full operation after investing the JV's money per negotiated contracts. I'd really like to be a fly on the wall in the meetings BCMD has with the JV and to be privy to the correspondence between BCMD & the JV. The above plan is a good one from mngmnt's point of view & it cannot be published as it would cause many investors to leave. When full production begins (The last phase of the plan) then the promise will be fulfilled. When will that be? Answer: When the JV's money is almost gone. When is that? I don't remember the time frame. Does anyone out there know?
My sinking feeling is because I want my return sooner then when JV's money will be mostly gone. but I expect to wait. I refuse to lose by being scared out. But I feel I'll have a lot of dead money for too long. I hate that.
It seems the recently announced placements of warrants or shares (5 or 10 Million, I can't read those SEC filings or understand what the actual amounts are by reading the thread). But it seems that the company may have simply noticed a need that the "The plan" didn't envision and must be addressed. The question is, when does dilution become so great "The plan" becomes untenable. What will the production have to be for investors with 45, 50 million shares to make money? I cant imagine the JV wasn't part of these. If they were not informed, I'd expect a suit.
Best regards to all, remember this is only my opinion & it should be noted that "I don't know nutten 'bout birthin no" gold mine. That may be obvious. LarryL |
