A lot of chatter about drill results due this week - waiting to see what happens with this exploratory tiddler - not much riding on it but potential to improve rapidly imho. I hold.
Sell half, keep half, just to lock in some profit - take out what you bought the shares with so you're left with a bunch of free stock. This will slide back after todays ann, maybe then top up - sell into strength - buy on weakness. Perhaps Thursday morning will see a lot of wagon-chasers trying to get onboard so expect some more of a rise tomorrow, maybe reversing in the afternoon... From what I understand this may be a year or two's hold up to a point where it becomes attractive as an acquisition target - all those development costs don't really figure - so it'd either be a cap raising or a sell-out imho... This is an explorer remember, not a producer. But today at least this little fella's made up for the-$0.93c ps hit I took on my BHP holding... and offset all o'dat...
Yes that's the only way to go with stocks like these (i.e sh*t). Gains are usually ephemeral. Get to a riskless free carry position as soon as possible. Good call!
Volume increase today (+3045%!) will deffo see more of a kick up tomorrow I reckon: Looking good for manana http://hotcopper.com.au/post_single.asp?fid=1&tid=1969785&msgid=11528487 Sydney - Wednesday - March 20: (RWE Australian Business News) - Birimian Gold Ltd (BGS) has received final analytical results from reverse circulation drilling that has confirmed the discovery of highly mineralised, shallow, high-grade gold zones at the Ntiola Prospect, part of the company's Massigui Gold Project in southern Mali. Better gold intersections include 11m at 4.21g/t from 33m, 22m at 3.46g/t from 78m, 18m at 2.85g/t from 3m, 4m at 7.68g/t from 45m, 20m at 2.13g/t from 85m and 9m at 3.85g/t from 71m. The shallow drilling program intersected a mineralised zone with a down-hole thickness of up to 50m and horizontal strike of over 500m. Interpretation of the analytical results combined with geological information from the drilling confirms "excellent" continuity of the broad high-grade gold zone between drillholes. Directors note that drilling to date has tested only the shallow high-grade portions of mineralisation within the mineralised zone to a depth of less than 75m vertically below surface. Significant potential exists to extend the known mineralisation at depth and along strike. The directors say the strike extent of the mineralisation at Ntiola is extremely significant when compared with the original deposit at the Randgold Resources (LSE:RRS) operated Morila Gold Deposit (more than 6Moz), less than 25km away. The gold mineralisation at Morila has a strike length at surface of less than 250m with high-grade gold zones extending 900m down-dip. The down-dip potential remains to be tested at Ntiola. "The geology and alteration observed in the recent drilling at Ntiola is highly analogous to that reported at the high-grade, bulk-tonnage Morila Gold Deposit. "This adds weight to the company's view that potential for a high-grade gold deposit amenable to open-pit mining techniques exists within the broader Ntiola Lode," the directors said.
Still think it's got some legs yet, they are straight onto proving the depth of the deposit and the location is very sweet.
You know Morila is in wind-down? Just 25kms down the road - here's a potentially huge new honey pot on their doorstep... Who're Randgold gonna call? Check it out... http://en.wikipedia.org/wiki/Morila_Gold_Mine Full report on intersections, maps etc here: http://www.eagleeyemetals.com/pdfs/HighGradeMineralisationIntersectedAtMassiguiProject20Mar13.pdf
I was winging it a bit with the old 'Did My Own Research'. I have been lurking on threads over at Hot Copper and it seems to be a thing. My interpretation is; personal opinions avoiding any liability for what they say. After watching SIR and KDR over the last month, I am glad to be on a little run myself. Cheers again VRS your post yesterday sparked an interest, researched your opinion myself and glad to be in it rather in hindsight. I didnt expect the announcement today but it was pending. The above information of this thread is taken on board, I have an understanding, and runs do not last. I am not totally green in mining and exploraion stocks, I am a graduate geologist, I understand the business. Takes the edge off my unemployed status in the form of a little pay off. A reward for my spare time spent on market, pm's and general finance/economic research, guided and not.
PS I think the near by mine is possibly the strongest factor for a continued growth of BGS share price, IMO =D
Topped up @ .022 - now .026 Strong volume - 202.5M buy side, 45.5M sell side 196M buy side, 50M sell side @ 10.15am - some profit taking but price's holding up - big chunk of buyers sitting there (14M shares) at .023 - not sure they'll make it today
Good call VRS I wish I had your business brain as opposed to just gut feeling. I'll keep reading your posts and see if I can shake off the cobwebs lol
I used to do this all the time - wife & kids got in the way after 2000 I think - the dotcom crash was on 16th March 2000 - I sold everything on 14th March... bloody lucky call - been trying to get my millions back ever since - but these buggers spend it faster than I can make it lol! Keep an eye on those volumes - some useful intel there on Bell Direct, up/down on unusual volume, which is one confirmation signal that triggered my buy when I did
Holy Ship! Now pushing thru 0.028 (hopefully) towards 0.03... More buyers arriving - support @ 0.027 - brilliant!
