RE:RE:RE:RE:How did we know 2 plus years ago ? Its all about Barry NEWS Sidebet, I was looking thru posts on another message baord that I follow Entree Resources. This particular message board has some very knowledgable investors that also know their stuff when it comes to the market and mining. As a metter of fact that message board and that group is the best I've ever come accross on a mining company message board. Some exceptionally good conversations have been discussed on both good and bad topics concering Oyu Tolgi, Entree Turquoise Hill and Rio Tinto.
This morning this was posted and man does it hit the nail on the head. Now remember this is on the Entree meaasage board and these guys no nothing of Bonterra...however the first part of this post fits.
"Almost all mining deals work the stock market one of two ways, excluding the unicorns that are run on the straight up and up (good luck hooking into one!)
One: They don’t know what they have, or they know they don’t have much, and they pump and milk the market to keep the lights on and sell paper to suckers. Up and down like a roller coaster. Until the paper structure collapses, they roll it back up and start over. What is it they used to say? “That property has so many holes in it, it whistles when the wind blows.” Multiple variations of this - they flooded the mine because of (taxes, the depression, owners were in financial trouble and had hit it big but had no money … yada yada) Dead stupid games like parallel drilling on old holes so you already know exactly what your results will be, or drilling down the throat of narrow veins … and a hundred more devious variations all the way down to simple salting of the cores like Bre-X.
Two: They actually have the goods on the property, but they had to put significant paper out to get to the discovery holes. They spend the years following underselling the property, coming up with imaginary problems, spewing out as many management options and shares as possible into friendly hands, vacuuming and chipping down the public float at as low a price as they can manage still keeping the lights on and things moving forward.
Which do you think we have here?
When TRQ shareholders don’t even realize they only had 80% of the best ground, when ETG with a large stake in a prime tier one mine trades in minuscule volumes … when management never sells over many years even though they are significantly in the money on their options and converted equity. It’s actually pretty impressive to give the appearance of struggling so hard yet not accomplish anything and keep such a low profile for almost twenty years - of course being paid well do so almost nothing and accumulating cheap options while you’re at it isn’t so bad. We should all be so lucky.
BUT, there comes a time when you have all you are going to get of the float and you wrap it up for payday. That day is now coming? I think so."
Complements to a gentleman that goes by the name of countrygent
Now which do you think apply to BTR. Number 2 applies to Entree