RE: RE: New Presentation Available Sure thing. The La Cantera resource (initial 1.6M AuEq) was 1.25g/t, which is more than double Batero, so this is a VERY different animal. Also the metallurgical results were very promosing. Many people in the know in the Cauca belt expected Batero to blow up despite some of the institutional pumping.
For the new resource out next week, I expect 3M+, with the Middle Zone grading somewhere in the .75-.80 range (all guesses), and around 55-60MM tons. So, that would be a nice deposit and a very attractive pickup. The blended grade should be a bit more than 1g/t and this is very economical rock, and that is what many think IAG sees in this. They (IAG) bought more shares at .45 a matter of 6 or so weeks ago. Also, SWD is soon going to have the goods for a mine nearby too, and that is lower grade than La Mina; but still will work at decent gold/cu prices. So I definitely would throw out Batero in the analysis, it is and always was no good.
BHV suffers from a lack of buying today, but I think a lot of the weak hands are gone. I scoop up shares here and there, but already own a ton and won't sell any under $2 unless for some reason if they are bought out and the shares stop trading lower than that (there will likely be a Panama SpinCo once La Mina is bought too IMO).
We'll see what happens, but one has to be pretty patient when the markets are acting this weird. It's a slow bleed until it isn't. I've got the luxury personally to sit it out for a long time. So does Paul Zweng (6M shares of BHV owned), and the large money funds that are invested. I continually point people back to Zweng's last company, Antares (who also had a CEO hired by Zweng) Minerals. They went from $3 to $.45 in the 08 swoon and probably scared a good deal of people (this is just like 08 in the jrs, IMO), and then rallied to $1 over a few months of bottoming on panic selling. Then around a year later the company was sold for $8/share. So these things happen, and patience is key and virtually every explorer I've ever been in has had a 50-60%+ correction at some point in the investment. I believe BHV will be a bit like Antares (a bit of a different animal), and I stick with my thought that we'll see something on the order of $2.50-3.50/sh+ for La Mina in the future, assuming the macro picture for jrs gets a bit better. If it stays like this forever obviously that isn't a feasible prediction; but it won't stay like this forever. When your stomach is in a knot when you buy because you're scared youre more likely to make a lot of money than when you are confident and comfy and buy... My 2 cents, and all my opinion and guesses. Colombia will get hot again, and another major (NEM or Barrick) is soon to enter imo.
Summarizing, my educated guess for next weeks resource is over 3M ounces total. Best guess: 3.3M ounces Eq after this resources - and economic, and very attractive. The fundamentals are great here, the market just doesn't care, today. trading at .25/sh today maybe people think I'm off my rocker, but time will tell.