OTCQX:BGMZF - Post by User
Comment by
RedHorizonon Jan 16, 2013 12:42pm
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Post# 20845594
RE: RE: RE: RE: I urge the Pumpers on!!!n
RE: RE: RE: RE: I urge the Pumpers on!!!n The Galway deal was announced on October 18- or 19 of 2012. 3 months ago. Has the market declined so much since then that the valuation on that deal is no longer relevant? I don't believe so.
However, I certainly would not want BGM to sell the company or Cow Mountain now. Gold Sentiment is very low according to Hulbert. He says gold newsletters are currently slightly NET SHORT (-6%). Back in 2010 Goldcorp paid $650/ounce for Andean Resources which had no infrastructure, and is in Argentina which is a questionable jurisdiction. At that time the sector sentiment was bullish. So ideally the board should wait until sentiment and valuations turn before selling.
Cheers