Balmoral Resources Ltd BALMF

RE

[kbagai]

Spoke to John yesterday, he mentioned that the guidance of 1.5m ozs to 2.5m ozs is based on the full system and not the upcoming RE. So do not hope for a big move in the stock price post the results.

I infer the results would confirm the complexity of the system and clearly state all the reasons why we did not get a RE earlier. Likely, there is not enough gold, or it is uneconomical to have a mine there at these prices.

The share count is already overblown. Expect dilution to eternity. The management is happy with the awards, but the fortune is always made on rewards. The snail speed drilling over the last six years, lack of RE, no major strategics in the ownership structure and lack of skin in the game by the very own manamegemnt makes it a great stock, only shorting purposes.

[djb]

So in reality there is no point in owning this stock, or for this company to be public outside of taking shareholder money and paying yourself a salary with it with guise  of drilling a few holes here and there to make it look like you are eaning you dues?

[djb]

I unloaded all my shares today, this deal is capped to the upside due to the last Flow Through PP and a lack of urgency on a RE.  If one drags their heels on a RE it means that there is not much there or it is too complex therefor high Capex to even consider. I called a $.42 low on this stockback in 2017, this deal will be trading at a $40 million market cap soon which will push the price

[chaney]

"I unloaded all my shares today, this deal is capped to the upside due to the last Flow Through PP and a lack of urgency on a RE." djb, did this idea about the flow through shares just dawn on you now? If you really believed this than you should have sold long ago at higher prices when flow through deal was done. Why not short if you believe the .25? You were right last time.

[djb]

Shorting a $0.41 stock is not worth it.  Good luck on this one for all you guys that carry the buy out target torch. i will revisit when in the $0.25 range. if anyone might take this out after it has been super diluted is Keith Neumeyer's First mining FF. he is in the market for domestic land banking. Expect to get paid shares for shares.

[chaney]

djb, you answered one question but the one I really wanted answer was if you thought FT shares was going to put a cap on why did you wait to sell at the low? You made a decision to sell but I find your excuse to be silly based on FT shares.

[Hawaiii]

In an interview a month ago Mr. Wagner was asked what investors could expect from the upcoming resource estimate. His response was 1.5 to 3 million ounces.   A direct answer to a direct question.   As far as I can gather, from a legal perspective, the resource estimate will be no less than 1.5 million ounces. True? Or can CEO’s just throw numbers out there in an attempt to lure investors

[Trader19999]

This post has been removed in accordance with Community Policy

[AlternativeView]

No you won't.  10 cents would imply an enterprise value of $15 million.  They have about $10M  in the bank and enough tax credits that your 10 cent prediction would ascibe a negative valuation to the combined property holdings. There is certainly an idiot here but it is not Hawaii.

[goodtoreadthis]

Since DW said 1.5 is the low side estimated number, logic would tell us that 1.5 mil will be the lowest RE value reported. There is however one wrinkle in this.  The RE comes from an independent firm and while that firm and the company talk, the company does not control the ultimate report by the firm.  BAR will take a significant hit should the RE come in much below 1.5 mil OZ.  1

[AlternativeView]

If this is so, then the upcoming RE might be for the shallow pits only.  I expect to see 2 small pits.Perhaps they are going to leave the potential underground parts out of the calculation, but why then bother with extensive "wireframing"  of the deeper zones?  And how much gold is there right at surface at 5 - 10 Oz/t?

[AlternativeView]

kbagai:  Did you not ask him about timing?