RE:RE:RE:RE:NR
Been following BTO for awhile now. Based on current market conditions in the gold sector BTO paid a huge preminum for Papillon. Papillon has a solid project but BTO paid approx $100 oz in the ground for a project that hasn't gone to full feasibility yet and a project that's in Mali. That's pre 2008 valuations and hasn't been seen for some time. Hat's off to Papillon management for pulling this off. Long term things should work out assuming gold doesn't tank but can't say I'm overly impressed with BTO management and what they paid for VTR or Papillon in the current market. Also not impressed with the recent insider selling. Not sure how BTO insiders can get away with this.
For any Papillon shareholders looking for a new punt you may want to check out AGG. Their Kobada property in Mali has a 3MM oz resource, wide open blue sky potential and based on their July 2011 PEA, superior deposit economics. They"ll complete their PFS in Aug and full feasiibility by Dec. AGG market cap.....$25MM. Always do your own DD and apologies to those who may consider this post spam but it is well intentioned.
GLTA