GREY:ABGFF - Post by User
Post by
TheRock07on Oct 12, 2010 3:46pm
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Post# 17555153
Strong value ..Take Position Soon
Strong value ..Take Position SoonLater this week, Balmoral will close a PP of of $18,000,000 in securities of which $7 million will be paid to BZA for the sale of BZA's non-core projects to Balmoral,
These receipts will mean that BZA need only raise an additional $12 million or so in order to move into gold production of 45,000 oz per year at a cash cost of just $450 per oz.
First production should be achieved by spring of 2011 ,at which time BZA should be cash flowing at about
.30 per share.Most PM juniors trade at 9-10 times annual cash flows
Great management team who have done it before, so the upside here is many multiples of the current price.