OTCQX:BGMZF - Post by User
Comment by
yaponskion Feb 28, 2014 1:03pm
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Post# 22265016
RE:sprott entered crk at top shareprice...
RE:sprott entered crk at top shareprice...dosco wrote: just a week ago. no discount... thats the diffrrence between competence an incompetence. we need asaps a new ceo. before 13 new geos comming. and no cashflow. 10 will last max 3 month ir even less...
I heard a story once about Frank being asked a question about what are the biggest worries BGM faces (or something like that) and Frank replied... his biggest fear for the company is what would happen if he wasn't there to run it...
I have to step back and say that getting $10M at roughly 3 times fair market value (in a depressed market but hey what it is).... means that Frank has delivered outstanding value to current shareholders. Remeber that I had been suggesting that longs go to Cuba to celebrate the outstanding relative returns they earned in 2013... instead of close around 15 cents which I estimate was fair market they got about 50 cents. You can NOT fault management for the fact that 2013 was a gold bear market. Not the CEO's fault. But given the hand he had to play, IMO the BGM CEO has delivered outstanding value to shareholders.
Looks like the play now is to get a much bigger resource estimate before doing more financing.