On the bid again The markets have moved to extreme, so it's either sulk time or action time. I'm choosing action and buying more BHV in the coming days. 2.6M AuEq that's very economical is worth a lot more than what, $8-10/oz it's getting today. If one liked it at .40; gotta love it at .21. The low, summer doldrum, volume doesn't tell too much either because there is just no interest. I would assume when we're back to 150-200k share trading days it won't take much to get back to the mid-30's, and then much beyond. It's kinda a silly time really.
As I see it, the company has a burn rate around $400-450K/month, and a cash pile of still around $6M give or take $500K. There's plenty of road ahead, and time for the shares to rebound as they wouldn't finance here and are at one drill for the summer (smart). Plenty of catalysts coming up that I see too:
1) Will there be an Anglo deal for La Garrucha? I think there will be simply because it makes a lot of sense for both parties.
2) Panama, someday, will grant concessions and BHV is one of the largest landholders in the country and in a great area (Azuero Peninsula). This is somehow valued at zero today.
3) Updated drills from MZ - we know there is probably 20-30% upside to the latest resource with a few extra holes, and I think the company believe that too. Also, drill results coming from El Limon will be interesting.
All in all, it's utter patience. 2+ years for me, and 2 more years if thats what it takes. But it will overshoot to the upside when the markets treat these things better, rest assured. Until then, it's grind on low volume to nowhere. Expecting Sept and beyond to be a whole lot better, and money is where mouth is.