Balmoral Resources Ltd BALMF

Companies

[montybissett]

That have the goods and are honest about it have much better times even in bad times.
When an analyst of the company who owns shares and has his clients buying shares and he goes on a top investing program and gets asked a direct question. How big is MRE at Mart and he says he had dinner with CEO and the CEO thinks 1.5 to 2.5 that sounds pretty spectacular. If your a CEO and you don't realize that number was put out your real stupid not to corrrect it. Then when you get asked the same question a few weeks later by same interviewer and don't correct the interviewer your a phony. Then when you have mgt put out there that the analyst just over heard the conversation that is a more stupid going on. Who you going to believe. I'm going with the analyst who is supposedly buying shares and having hsi clients buying shares. There was no ambiguity about what analyst said. You can quibble with what CEO responded with. Having dinner with someone and saying it was a over heard conversation is more dishonesty.

We had a chance to stay out of the the recent teens twice. Once in Feb and again in May.  RNX on the back of a huge gold find went from .10 to 1.10. with close to 300% more dilution than us. Wall went from .5 to .35 again with 300% more dilution than us.

Lying catches up with you and makes bad times a lot worse. Like taking back a 1% NSR from a new neighbor and saying the property a pickup truck backhoe deal. While selling shares in it at a 40% discount to the recent high that it got. Of course making you dig deep to see what happened. When you have a neighbor that you made best to speak kindly of them and hope like hel they bring notice to the neighborhood. Detour not so much. 

Getting creds back starts with realizing how you got in the mess. Doubling down on stupid doesn't get you there. Flashing up 60% more options at a 80% discount from the expiring ones isn't the ticket. Getting creds back starts with delivering on promised results when you complained about shutting down Grass over 3 years ago while hitting the mother lode.

Being involved with sleaze balls isn't much fun and hard on the pocket book. But it is what it is and as mentioned before, hopefully they don't sell off any remaining assets on a fire sale.

We still have a slim chance of hitting mother lode at Grass, that will allow us to hold onto Mart. Doing a JV on our terms and not someone else's. Kind of comical their excuse for not buying shares was too many deals being offered since Mart MRE. Kind of like having dinner and over hearing.