RE: Same old story
Hey beardedmollusc, nice to see you surface again. I'd rather have an all out pessimist on this thread to balance the viewpoints (as long as it's civil) as opposed to a pumper who knows jackchit and fills up the thread wasting bandwidth with nonsense - SH is filled to the gills with those types.
Since you're a long time poster of Bell and have a vast knowledge of the Stewart area plays (it's kinda nice not to have to wade thru a gazillion posts with posters like yourself...that's a compliment btw) i keep your comments in check as you indeed have some interesting history under your belt. I/we hear your "tone" loud and clear, and as you can tell, i'm not too far behind you and others of being tired of this chit show, but since i'm a bagholder i have no other choice but to ride this out. Have a good laugh on (or with) me. You on that same boat? I'm not coming on here trying to paint a pretty picture that's for damn sure as i chucked the rose coloured glasses overboard long ago...
I picked thru a few of your comments (below) over the past 3 years chalking it up to more Bell investor burnout as a sentiment to the health of this thread and this isn't out of disrespect - it's to show another perfect example of the typical retailer who's had to "wait it out" these past few years for this Bell crew to get their act together (you can also dig back into my posts as well to expose my "tone" just the same if you feel so inclined, that goes for other posters postings as well). I utilize these bullyboards as best i can in a time efficient manner (ie. finding credible posters) as it's another tool to throw in the DD toolbox. I don't post 24/7 as there's no need for it and hopefully you can respect some of the folks in here that actually have done some DD.
For some investors it's 'too little too late' with this Bell crew which is really too bad as the ship appears to have finally righted which the chart reflects. You wouldn't be mosing around here if your share(d) interest still wasn't tied into Bell, would you bearded one? Can i come to that conclusion or are you just dropping in for a good ol' natured bullyboard rub? Please set your agenda straight for the goodness of the thread, thanks in advance for that.
You will no doubt get an argument from a few in here of railing on Tim Marsh's methodical geo plan at Kabba if that's indeed what you're up to, i certainly hope you're not lumping two different coloured M&M's together as a comparison basis.....McGuigan versus Marsh. If some of you don't know PM (the geo originally behind the Granduc) he's been over at KRE...
https://www.kenrich-eskay.com/index.php?page=8 ...and hasn't had much luck with his geological jargon which bearded has reminded that thread on occasion...
Time will tell if Marsh and all his geological "bafflegab" (as you referenced) will prove Kabba to be a winner or not (same for Sombrero). Leeners & company are finally "focused" on where they should have been all along - at Kabba.
Cheers!
ps...don't focus too hard on the depth of K6, yes, it's been deeper than expected but the block fault has been the main reasoning behind that (as well as the basalt layer to get thru), the drill bit, as always, will tell the tale. Perhaps you should hit mesa up as he might be able to explain Kabba in more detail if you want more facts (if ya catch my drift).
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April/2006....."As for Granduc, that's not the real reason I like Bell. I like it because of the Kabba property in Arizona. Arizona is mega-elephant country for copper. If the Kabba is what they think it is, then you could see Bell twenty times higher than it is now."
(Bearded talking of KRE and their high priced geologist McGuigan and the ol' "bafflegab" ) Oct/2006.....
"(insert ten long explanatory paragraphs of geological bafflegab here) wonderful "sniffs" pointing the way to the new Eskay Creek that is just a hole or two away. Yeah, right...deja vu all over again. Anyone else starting to think this is sounding just like Mark Twain's hilarious short story about the detectives on the trail of the missing white elephant?. But what do I know? I'm just a dumb investor, not a worldclass geoscientist. Dr. Michael Barry says Kenrich is an outstanding punt at these prices and since he's got a Ph.D., I guess he ought to know. He's researched it thoroughly, after all. According to his report he went up to the property and flew over a bunch of mines en route including the Grand Duke mine. All these years I thought it was called the Granduc, but I messed up again. Better tell the good people over at Bell Resources that they are misspelling it too...." https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=KRE&t=LIST&m=13254971&l=0&pd=0&r=0
April/2007....."I used to like Bell and Mountain Boy. But I don't like either of those anymore. Sold my position in them last month."
July/2007......."I'm a bit disappointed too, but I plan to hold on through the summer months because the company does have great properties and I believe copper will remain strong. I wasn't happy with the new team-up with the other geos/properties in the States, even though I'm sure the assets acquired there are also top notch."
July/2008......."I got into Bell because of the Granduc, having made a small fortune on the Eskay discovery many years ago. I like that area and expect other finds there. Bell management has been really slow developing what they have at Granduc, but even though I get pissed off about it from time to time, I can see that their hands are tied by this terrible market. Bell hasn't dropped any more than the other Stewart stocks, and notably less than MTB, which was my other fave. Right now I like AMK, because I think their Treaty Creek property has exceptional merit, despite how these guys have gone through the money up there. I'm happy to see Bell dropped the Danny Boy. If they lighten up a few more properties instead of always trying to expand their holdings, I'll like them even more."
Dec/2008......"Looks like BCU has had it. All properties for option, or what have you. I had no idea the company was carrying this much crushing debt. What is it, $4-5 million? In this environment I wouldn't expect too many takers. As I said in many previous posts, I liked this company but they took on way, way too much. Should have just concentrated on one or two copper projects instead of trying to grow into a mini-major. Say they are able to option out some of these properties, what are they going to do with that debt? No one is going to make those kinds of payments to them. I see either massive dilution followed by rollbacks, or one of the debtholders demanding payment leading to a forced sale of the assets and a winding up of the company."
March/2009....."Interest charges on the loan from Macquarie are adding 500,000 to 600,000 shares per month to what Macquarie already owns. At this rate, it won't be long before they control the company. Particularly if the loan itself has to be paid off in shares, down the road. Bell has, what, $5-6 million in debt right now? How are they even going to pay the interest on that debt? Or am I reading the financials wrong?"
July 27/2009....."This is sounding like Kenrich-Eskay when they kept putting out news releases full of geological jargon, with the underlying message that the monster discovery was "just around the corner". Never happened. Not after 7 years of the same BS. Now we got all this excitement about Kabba. Five hundred meters down--that's 1,650 feet down--and we're supposed to be just entering the promised land. These guys at BCU and at Grandcru have been playing the same game for years now. I can't remember all the times they phoned me on Grandcru about the next big thing. Then something comes up, some more geological bafflegab in explanation of why we didn't hit, and so on. It gets tired."
That's enough to get the gist...