OTCPK:BELGF - Post by User
Comment by
Blurr4on Dec 16, 2007 1:13pm
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Post# 14028324
RE: most all cheap warrants have come to
RE: most all cheap warrants have come toRocket: You really don't know what you're talking about when it comes to warrants.
During recent PP, warrants were priced at $1.25 - believe me, I have taken part in 2 PP and hold $1.25 warrants. Do you think I'm "in the money" holding warrants at $1.25 when BGL is trading at $.60? There are no new warrants coming to market either Rocket - as private placement investors we've had our warrants for some time and at the moment they are a long ways from being a lucrative investment. At times like this, with BGL and many other stocks taking a beating, this board leaves no room for fear mongering - share opinions and state the facts only.
The current share price is feeling the burden of tax loss selling in the face of slower than expected progress in Mexico. I spoke to IR about a week ago. Progress indeed continues on their properties but it is slow. The company knows that investors would appreciate updates if there are some to release but they feel such news may not get fully appreciated if it's released during the holiday season. I would expect news/updates early in the new year as they continue to build their resource inventory.
Tax loss selling is most apparent during the month of December. For those of you who hold additional companies at this time you will know what I'm talking about - there is an awful lot of red out there. I'd rather not be holding BGL paper valued at over a dollar at this time but I am interested in picking up some more shares at current prices. The company is sound, has enough funding in hand to carry out its business plan and is advancing mining projects in an environment of record high precious metal prices.
Try this scenario: Imagine Bandera under the current tax loss selling pressure but where the company is out of money and cannot move it's business plan forward until more capital is raised, in an environment of $500 AU/$9.50 AG. We could be looking a great deal worse than we are - Bandera will recover in the new year.