Mining and Metals Outlook from RFC Ambrian including a company operations report on BGS, which has been updated from the original May publication. www.rfcambrian.com/sites/www.rfcambrian.com/files/RFC%20Ambrian%20-%20Outlook%20for%202014%20-%20November%202013.pdf
Trading Halt. If it's a placement to Randgold, followed by a JV, we're off to the races. Hope this stock is still lying in the bottom drawer.
Dream on children - they want more of your money .. 1. The trading halt is being requested pending the announcement of a capital raising. 2. The Company is not yet in a position to make an announcement regarding the capital raising.
http://www.birimiangold.com/pdfs/CapitalRaisingToFundExplorationAndDevelopment30Jan14.pdf Its encouraging that Sprott is taking a stake in this one, but 87m shares at $0.0125 ? Thats only about $1m - won't last long. Plus I take it that the offer is not open to existing punters (?).
Er... NOPE lol! It's a second placement to Sprott - and the thing is structured to give additional funding for BGS (double if the sp achieves over 4c for over 20 continuous days after Feb 18th I think?) That means that the company has $3M cash plus an additional $2M if the sp incentive kicks in, so no worries on cash at all. Note that the 'CR' was defined partly for 'Development' - (and that doesn't mean 'Exploration') 'Development' is pretty clear to me what they're going to do with some of the money at Massigui now, with the Morila processing plant 25kms away... and Randgold having already signed an MoU towards jv would presumably be wanting proper ore to process there, rather than the stockpiled tailings from their own ex-6.5M oz now exhausted mine. Incidentally at this level dilution isn't a real issue to existing holders either, so all good from where I'm standing... Check out the chatter on Hotcopper and you'll see how it's all stacking up - I'm now even more encouraged by this given a heap of other things going on in the background.
Personally I didn't think this was a grab for money from already vested share holders, although it could have gone either way TBH. There is such a negative commentary toward this stock, not necessarily on this site, but as VRS said, pop over to HC (lol). I have been worried about the story playing out due to my interests in this stock. I have studied this to the bone and it is a relief to see the major player taking further interest in this company. For them if it all plays out, it would be a total of $5Mil, just a little bit more encouraging than a $2Mil punt, which has been used time and time again as a 'all believers are crazy' commentary of the whole situation. Surely share holders can be a little more comfortable, if not for anything but the Sprott interest still going strong (surely these guys do not dick around?). IMO 12.5-18c is an absolute bargain for a punt, there are some pretty solid PM investors on this site, I say go for it before this 4cent challenge given by the Sprott Group is realised.
Well it's been a long rocky 11 months for me holding this stock. I'm starting to feel a bit more confident, hopefully we have a good week of trading ahead and pog continues to climb.
Hi all, From the bleachers I am hoping for some insight into how this little engine that could is chugging away at the moment? Any thoughts? TIA js
JS, do you have shares? a fair bit of anticipation behind the next results that are coming. A bit of critique as well given that they may be a little overdue. What I do not get with the impatient commentary on a particular forum, is that most of the share holders are in this for the longer term. You can read over these pages and get the big picture of what is going on, and a good overview of the last year since it became a watched company. As with anything these next results could go either way, thats the punt I guess, but a major investing firm is on board for the second time. IMO most people with shares in the red are seeing other companies make significant gains, and hindsight is telling them their capital is missing opportunities waiting around for BGS. Its up to you to decide what you think this little engine will do. I for one am getting over the "mine down the road that needs BGS's gold" but the company does not want to disclose what gold they have resourced over the last year. There is enough data from the drilling that would allow a fair estimate. Hope that helps
Cheers WIA,, To answer your question straight out, in haven't got any yet so stand neutral as to red and black. The recent change to a higher average struck me as a little opportunity lost hence why the SP ATM is looking attractive. I've read this post through along with a number of the links in particular the recent increase in investment from Sprott. It's such a sleeping giant and I feel a little the anticipation growing...., jeez emotions coupled with the stock market ....... I should keep my dollars in my back pocket, there's my winning play.
I'll be jumping the bgs ship soon regardless which way it plays out. Call me stupid but I've had enough of this stock .
Big roadblock set up with a sell order of 10mil at 1.5c. Some news expected to come in the next couple of days. Worth a punt?
