RE:RE:RE:BMO sale
halcro wrote:
BMO is at it again. Whacked the bids, on every sell so far today.
Since February 28, 2014, BMNO has sold 757,550 shares...all the way down from 54 cents tp 46.5.
It is hard to see what the game might be with such selling but a naive interpretation would be that someone wants out. Wonder who it is and why specifically now?
One thing is for sure, without a break out in the POG, which doesn't look likely in the near term, once the PP is over, look out below. I still believe we'll see financing in the 20 cent range in 2014 to raise needed cash to finish reports and return physical to Sprott.
Maybe time for a come to Jesus for BGM investors. I say FC should do a transferable rights offering at say 20 cents, share for share. That would raise roughly 20+M, enough to get the resource estimate reports out the door.
Nobody gets unfairly diluted as long as they pony up, and who wouldn't want to give the positive upside all of the BBoS crew continue to tout here? I wouldn't but then again, I'd never hold a gold stock in a POG bear market so that just isn't an issue. Then when the Sprott $2400 POG comes, which it will one day (but not today or this quarter or probably this year), BGM would be ready to fly.
Just saying... FC, PM if you want more advise on your best play out of current situation... eh :)