Balmoral Resources Ltd BALMF

Metals & Mining Industrial Metals & Minerals

Balmoral Resources Ltd is an exploration stage mining exploration and development company. It is engaged in the acquisition and exploration of gold and base metal properties in Canada. The principal focus of the company's exploration activities are the properties comprising its Detour Trend Project in Quebec.

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Balmoral Resources Ltd

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Comment by AlternativeViewon May 22, 2016 3:17pm

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Post# 24896468

RE:RE:RE:RE:Why is there no maiden resource at Bug Lake?

I am considering putting the money I have in BAR to work somewhere else and possibly returning at a later date.

I have a hard time seeing what will drive the BAR SP higher, factoring out the recent increase in the price of gold that we have just witnessed. IMO this increase in the metal price is the cause of all recent gains in mining stocks and BAR is notdifferent. The increase in BAR SP is not due to anything that BAR itself has done.

NBckel is dead for some time to come and I have a much better nickel play, in any case. If BAR is not going to "ramp it up" for gold at Bug Lake, then there are better stocks to hold at this time, IMO.

astrorbit wrote: It is a "guessing game"

Most are probably aware that BAR had scheduled arrival of the RE multiple times. Last i heard was Q4-2016 by Mr.Foulkes.After the summer/fall winter infill drill program.

The major reason is the cost of capital is too high. Issuing shares at a major discount would of lead to dilution to 190million shares+.

A deeper drill hole would cost $1million+.

One can only hope that management is not delaying due to a lower than expected RE or other technical issue.

Still waiting for the "EYEPOPPING #"