Patience Is All You Need Like Pat and a few others I have been a shareholder and SH blog reader for quite a long time choosing not to post comments...until now. With a very large vested interest in this stock it is truly unnerving to watch BMK slide to $0.04, but it does not take a math degree to see what an absolute steal this stock is.
I consider myself an industry veteren having been around in the 80's playing the Canadian diamond juniors, Bre-X and Voisey Bay. They were crazy and exciting times. We watched as some of these stocks soared from pennies to hundreds of dollars in some cases. I am in no way saying or predicting BMK is going to hit those levels although we all dream of 'the big one' - like a lottery ticket. Take a look at what BMK has. Great properties, good geologists, good relations with the tribes and a reputable shareholder on board - HudBay. From what I know and have been told, HudBay is still here and has no plans on selling. I'd be clear out of this stock if I caught wind that HudBay was bailing.
There is a large shareholder who, for whatever reason is selling. More than likely selling to cover losses in other Venture plays. We see it all the time. You do not have to look too far to find out who it is. Once he is done, the stock price will stabilize and await drill results. Will the big find come this go around, or will it be the next? Who knows, but it is a definite when and not if.
Hang tough everyone. Those with patience will be rewarded handsomely. Those who want to flip for pennies - go ahead. We know your type...young, know-it-alls who have to use their couple of hundred dollars in profit to pay off their growing credit card debt!
Chili