RE: RE: Website Amen Bibbab
People who believe everything is rosy should go back and read the story of Baffinland Iron Ore which I was involved with.
Like BVG they had big resources -estimated 6 billion ton of Iron ore-possibly the biggest deposit in the world. It was the highest quality in the world - 72% so pure it needed no processing. At the time the price for this type was near $200 a tonne.
Like BVG management was questionable - in fact at the end they only had an acting head. Price was driven down to .40 and everyone on the stockboard believed it would all work out and we would sell at $20-30 a share.
Big and aggressive Accelor Mittol realized the whole thing was way undervalued and all they would have to do it take over. They made a bid for .80, made a deal with the other company who got in the bidding war getting them to drop out. Now in shock many of us shareholders rallied around the former chairman to get a bid from the Chinese but in the end they didn't want to get in a bidding war.
I and everyone else who thought they were about to spend the rest of their lives sitting on beach were forced to sell at $1.50 a share. Some of the shareholders claimed they were going to court after the crying was over.
AM brought many of the board members into the new company and many of the big funds who held most of the shares were happy to sell their shares for 50-100% profit. It's just another stock to them.
A company near Barkerville is taken out at $10+ without an mine or production and we sit at 80some cents.
Those who think they are going to be sitting on the beach better think again. Like Baffinland you can have all the resources in the world, and some aggressive company can ruin your day.
Will they have to get better drill results in the future? Will they have to build a mill?
What they have to do to go from a company worth .80 to $10+ will take them five minutes to do. Make offers to the board and take over management.