BGS - Birimian

Discussion in 'Stocks & Derivatives' started by VRS, Mar 19, 2013.

  1. VRS

    VRS Well-Known Member Silver Stacker

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    http://www.thepost.co.za/randgold-sees-gold-s-slump-as-opportunity-1.1503942

    April 22 2013
    By Reuters

    Joe Bavier Abidjan


    Africa-focused mining firm Randgold Resources saw any further fall in the price of gold as an opportunity to expand its exploration activities cheaply, the company's chief executive said at the weekend.

    The mining firm was looking to buy stakes in exploration projects run by smaller firms likely to be hit hard if the precious metal entered a downtrend after 12 years of gains, Mark Bristow said in an interview.

    Spot gold tumbled more than $125 (R1 153), or nearly 9 percent, to below $1 340 an ounce last Monday, a record one-day loss in dollar terms that sent shockwaves through the industry. And though the market bounced back above $1 400 on Friday, analysts say prices may fall further in the near term as money continues to flow out of exchange-traded funds of the precious metal.

    He said the grim outlook for gold was likely to affect small mining firms the most as financing dried up, forcing them to mothball exploration plans.

    But that could be an opportunity for established firms that could buy into projects at knock-down prices.

    "The industry hasn't been efficient in investing in exploration," he said. "That's what Randgold's real focus is now. This is the time you can pick up the good positions."

    Bristow said the London-listed company, which operates mines in Mali and Ivory Coast, would maintain planned spending for 2013 despite the weak outlook. It plans to pour the first gold from its Kibali project in the Democratic Republic of Congo (DRC) by year-end.

    Bristow said Randgold was already establishing joint ventures with cash-strapped junior mining houses to expand its exploration activities.

    In December last year, Randgold acquired a majority stake in a joint venture with Canada's Kilo Goldmines that will see it manage the junior's exploration licences in the DRC.

    It announced a similar deal with London-listed Goldstone Resources earlier this month that gives it control over the Sangola project in Senegal.

    Under those two deals, which will serve as templates for future agreements, Randgold will take over the projects and fund exploration. A prefeasibility study will be completed within five years at which point the minority stakeholder will be asked to either fund its share or Randgold's stake will grow to 65 percent.

    If funding is still not available on completion of a bankable feasibility study, the minority partner's stake will be diluted. Bristow added that mining firms with the resources and willingness to invest were likely to emerge from the gold downturn stronger than their competitors.

    "From 1990 to 1999, when the gold price was so low, everyone did exactly the same as they're doing now, cutting exploration. And we spent money then," he said. Reuters
     
  2. slipage

    slipage New Member

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    I topped up more today , I think this is going to creep up before next drilling results.

    The next drilling results are due towards the end of may, if they are hight grade like the last results, it's got a good chance of pumping over 5c. Bgs can move fast with the volume it's been getting

    I was going to sell out after the next pump of positive news but I'm starting to think this has got better long term potential to hang on as randgold is lurking in the background...
     
  3. VRS

    VRS Well-Known Member Silver Stacker

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    Drilling underway - announcement at 8.33am this morning - they aren't hanging around! Obviously the Randgold data's pointed them to targets pretty damn quickly I'd say...

    Fabulous - give it 3 weeks and we'll see what turns up (!)

    Oh, btw:

    "Every year our geologists and Investment Representatives make field visits to numerous properties that have been identified as having potential. Explore the Site Visits section of our website for indepth coverage of our far-flung travels."

    http://sprottglobal.com/precious-metals-watch/
     
  4. slipage

    slipage New Member

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    This is worth a punt IMO, can easily double your money in 4 weeks from now ...

    Just my opinion tho, not long to go.
     
  5. VRS

    VRS Well-Known Member Silver Stacker

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    Up another 16.7% today

    I feel pretty good knowing I bought in at way less than Eric Sprott did - That's only just hit me lol!

    Hmmm....

    The Man Who Bought Gold Lower Than Sprott

    Has a kinda kitschky klang to it...
     
  6. VRS

    VRS Well-Known Member Silver Stacker

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    Make that up 20% today & back into the range again - some big insto twonk sitting on .029 needs to be shoved out of the way
     
  7. slipage

    slipage New Member

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    I would be happy with a 2.8 - 2.9c close.

    If gold is going rally up over the weekend like it has been might see 3 come monday.

    Looking good tho with news not too far away that can really skyrocket the sp as we are all hoping:)
     
  8. slipage

    slipage New Member

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    or 3 today:) it looks like its going to break into 3 now before close
     
  9. whereisado

    whereisado Member

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    Had to get my Mil holdings, change my cost basis, but not to worry with performance like today.

    Bit of a delayed reaction or gold rally I wonder?
     
  10. justin536

    justin536 Member

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    Toped up again, if only I had spare cash before Sprott and I would have been twice as happy.

    *The mEn Who Bought Gold Lower Than Sprott
    :)
     
  11. VRS

    VRS Well-Known Member Silver Stacker

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    So it was you doing all the buying Mr Moneybags ;)

    I think shortly with a few more newsworthy leads plus upcoming drill results she'll be moving along - better to top up when there's a lull, always tho' J :cool:
     
  12. justin536

    justin536 Member

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    haha im all over it but money bags, if only! My buy wouldnt have been noticed in the market lol.

    Yeah well i figure buying at .02-.03 will be a hell of a lot better than buying at .03+ pretty smart thinking ay ;)

    Looking forward to it V :)
     
  13. VRS

    VRS Well-Known Member Silver Stacker

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  14. slipage

    slipage New Member

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    its so hard in predicting the bottom, averaged down a bit tho before sprott... no more money left for bgs , time to sit back and enjoy the ride...
     
  15. VRS

    VRS Well-Known Member Silver Stacker

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    FYI - Performance rights given to MD Kevin Joyce in Sept 2011:

    1 mill shares if Co shares trade at 0.15 or more for 20 consecutive days on or before 30/6/13

    2 mill shares if Co shares trade at 0.20 or more for 20 cons. days on or before 30/6/13

    3 mill shares if Co shares trade at 0.25 or more for 20 cons. days on or before 30/6/13

    ;)
     
  16. VRS

    VRS Well-Known Member Silver Stacker

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  17. southerncross

    southerncross Well-Known Member Silver Stacker

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    All in your mind
  18. SilverSanchez

    SilverSanchez Active Member

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  19. southerncross

    southerncross Well-Known Member Silver Stacker

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    Yeah I figured that based on BGS being only an explorer so far and the numbers he quoted but posted it here due to his recent buy of BGS. I think there is some real potential for quite a fortune to be made snapping up some of these mining shares in the next few weeks, opportunity's that only come along once or twice in a lifetime and 2008 has already been and gone.
     
  20. VRS

    VRS Well-Known Member Silver Stacker

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