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Buchans Minerals Corporation V.BMC



TSXV:BMC - Post by User

Post by CalifDreamingon May 16, 2008 6:04pm
433 Views
Post# 15083737

$1 & $1.05 Warrants all exercised.

$1 & $1.05 Warrants all exercised.Selling by warrant holders has kept a lid on this play despite good news, good and fast growing production.

I'm back in at $1.06 and will buy more at these levels.  No more warrants out there, so finally this play can get a bid under it.

$14MM in working capital and great production ramp this year (from 3MM lbs to 8MM lbs) = more cash every quarter.  BMC could have $30MM in cash by year end.  For a play with an $80MM mc ($71MM EV) and generating $20-$30MM cash flow per year, that's cheap.
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