Final Over With Rexx final takeover bid in the trash the question is why?
The final bid to add another director was to disavow the AGM. Seems odd but it worked at MAO and look were that stock is. Rexx was using the court trying to force BGM director to react. If BGM decided it would of lost in court they could of been forced to accept another director and/or a series of demands. If BGM was trading this challenge could of led to a lower Sp value. The market hates uncertainity. So now that this challenge is over the management factor has been removed or receded into the background.
So not trading has resulted in BGM shareholder weathering the REXX debacle. that would of had a dramatic negative impact on shareprice. We are going to open based on the 43-101. The value of BGM is now higher based on management reelect.
The gold downturn will put a premium on low cost producer. BGM is one and that should be of benefit.
I am not expecting a massive sell off, as some basher expect, because the uncertainity around the stock has been remove and the upside is substantial.
BGM is a low cost producer with a massive reserve on a largely unexplore claim. I be hear when the next 443-101 and the good news keep rolling in.