BNP Resources Inc. V.BNX.A

Persistence pays off!

[rockhead7]

Hats off to this management team.  Almost two years after being written off as dead they attract a major fund with a $2mm to invest!   They never wavered in their faith in Jensen and now it appears that others are starting to agree.
Senior industry people are signing on to the team and buying stock.  Creditors, who have presumably been in the field and seen the operation, are taking stock for debt at a premium to market. 
Lets not forget that its still a gamble-Jensen may not pan out but at least now BNP shareholders are almost certain to get to see whats there.  Over the past two years there was a risk that the company would fold before we got a chance to "see the cards".  I once had shares in a mining company that went under as it did the ground work on a mine in Yugoslavia(long time ago)  They ran out of gas and a vulture company picked up the ground.  Its now a signigicant mine.   Such is nature of the risks associated with juniour resource companies, that risk appears to be greatly diminished now with BNP.
This company, while still risky, offers huge leverage.  The units currently being offered offer even better leverage.  With the strike at the same price as the issue you essentially get 150% of the upside for the same downside risk.  Remember, this stock ran well over $2 when Jensen struck.  The company is more diluted now but if even a portion of that upside is realized the units will a big win.  Its still a roll of the dice but the risk reward suddenly looks a lot better.