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I've been closely watching this one since last May. Their star properties are located in Suriname (close to Golden Star's property that is proving up 2 million + ounces). The property that has the most immediate promise is the Dijon concession. Trenching revealed gold values as high as 5.25 oz. per ton. They just starting a drilling campaign last week to a depth of 100 ft. into the trenches. News should be out by the end of October. What's incredible about this one is that their only trading in the .35 cent range! They had a high of .70 cents this year when they did a little promotion, but put their money into developing the properties, so the market fell asleep on this one. They have about 11 million shares fully diluted. If the drilling reveals good intercepts like the trenching I expect this stock to go immediatly to the $1 plus range. Their are many other juniors out their with similiar or less potential trading in the $2 + range, I think some good results and a little promotion will reward shareholders that buy now. What BLO really needs is a JV partner with some money in the till to further develop the properties. Some good drilling would attract them like bees to honey. Dijon is the key to BLO's future. I know to the market this might look like a dog, but this is the time to buy... when no one else does. This could easily turn out to be the most undervalued stock of the year. By the way, only a couple of months ago, 2 private placements went through over .50 cents a share through some Irish investment funds (not known for throwing their cash into the wind). One more thing, they acquired another property in Suriname which besides being an excellent gold prospect, also has diamond indicators and according to the Suriname government. Suriname may be a hot location in the future. Take a look at the chart, were at the technical bottom right now. Only one way to go. Does anyone feel the same way?? | ||||||||||||||
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