RE: Thought on today's news...Had a little time to collect my thoughts and summarize what's gone on with BVG over the last 4 months or so.... It seems pretty obvious now in hindsight that "those in the know" and "the friends and family" were given some heads up on the change in dynamics on Homestake. Why else would the stock sell off so relentlessly in the absence of news. And Hmmmmmmmmmmm, what a co-incidence Mr. Grandich walked away from these guys when he did.
Then today, on a Friday, right in the middle of lunch hour Toronto time, they sneak out the resource estimate and some pretty substantial news of A COMPLETE CHANGE in the mine plan. Maybe they were hoping that investors would "cool off" over the weekend and be less likely to drive the SP into the earth.
Forget the cash in the till, its been committed to the 2010 drill program. If they don't pull some spectacular high grade intercepts, this thing is toast. Risk has gone way up here. Try raising more money when your stock price is a dime and to think...All this is happening during the greatest BULL market in gold ever!
And the thing that pisses me off the most is that there are a lot of VERY astute investors on this board that were/are holding significant number of shares, and are now left with a low 20's print and IMO a VERY questionable investment. All the while the "friends and family" and cousin dumass who works the drive through in Prince George or somewhere unloaded at higher price with a nod-nod and a wink-wink!!!!
Disclaimer: MY very humble opinions.