Balmoral Resources Ltd BALMF

RE:RE:Best efforts????

[astrorbit]

This looks more like a "SAFETY NET" financing.

News releases have not had much impact on share price lately.

The financing window is still open.

Current working capital             =$6million
Budget for remaining 2017         -$3million
End of year(2017)                      $3million

Recent financing                         $3million

Total=$6million(end of year 2017)

BAR will probably try to end the year with $10+million in cash.

The masterplan is to build the resource and get acquired. The likelyhood of building and constructing is NOT part of this management's plan.

The problem is probably DGC is not intending on taking on excess risk at this time to build and construct a mine.

Perhaps fractional division of property would be more beneficial. If Detour east becomes a new discovery it could be acquired before bug lake/martiniere due to its proximity to DGC's mine.

Can't see BAR selling the entire detour trend gold package in one go.

Look at Porcupine destor and larder lake cadillac fault zone. Imagine being a prospector and owning all the property before it was discovered.

This is not to say detour trend will be as prolific but so far it is looking decent.

Nickel should stay below $6 which would be positive so BAR can focus on GOLD in 2018.