Leveraged play, strong management, proved resourceDon't think I've ever been the first to post before...
Visited BYN at PDAC and it looks VERY good to me as a high quality, strongly leveraged speculation:
- Only 14.5M shares outstanding
- A microscopic market cap ($1.1M)
- Proven 400,000 oz Au deposit with a 43-101
- The top mgmt team in the North (Alaska/Yukon/NWT) per Tickerscores Feb 2014 Power Rankings
- Lots of paid-for data to work with due to ~$3M of exploration work on its property pre-acquisition (based largely on this data, management is confident that the current deposit can be proved up to over 1,000,000 oz Au.
- Management owns over 25% of the shares
The main (only?) negative is that it only has about $300K in the treasury and will need to raise money to fund the next exploration phase. But it has a very low burn rate and can wait for a while yet to raise money when market conditions and awareness of BYN improves. The CEO discussed with me how BYN keeps its burn rate low and he sounded very credible to me -- his team is doing exactly what I would do.
I challenge anyone to find a more de-risked and leveraged bet on a potential multi-bagger anywhere.
JL