If that's how you feel about it, you should be hoping Placer drops their option. They will have spend over $60 million drilling the property and paying for a feasibility study and Bema/Star would end up back where they started; owning 100% of Aldebaran. Of course, they don't have the money or expertise to develop it, but hey, the stockholders would have it all back. Big deal. It's worthless without a major JV partner to develop it and nobody knows that (and knew it back then) better than Bema management.
Also, you're forgetting something here. If you owned it at the top, C$17.50, why didn't you sell it? That choice was yours. If you didn't, you have nobody to blame but yourself. You didn't because, like most stockholders, including me, you were operating in what you believed was your best interests, and greed said there was more gold and the price would go even higher, so we held. Even when it was clear that the Bre-X debacle would hurt the junior mining stocks and Bema management was selling, we held. Hell, we should have followed Johnson and sold when he did. There was plenty of opportunity to take big profits on these stocks and, unfortunately, a lot of us didn't.
Terry |
