OTCQX:BGMZF - Post by User
Post by
waitingstillon Sep 26, 2017 2:42am
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Post# 26740980
What is wrong with this picture
What is wrong with this pictureI have been long BGM for many years now but these last few months have perplexed me. BGM has been pulling out awesome results repeatedly out of the ground over the past few months but other than that run up to $1.20 a while back, we are sitting where we were many months ago. I see companies like GGI go 4X over one set of equivalent drill results. But we just sit here or drop a few pennies. Now the resource estimate may not be out for quite a few months as they try to piece this massive package together. I am beginning to consider a conspiracy theory here.
Osisko and Osisko mines (or whatever the two sister company's names are have a huge portion of BGM paper (too tired to look up exact numbers) and Sprott sold out a significant portion of his holdings to Osisko not so long ago. With these massive numbers coming out, why would Sprott go silently into the night?! He brought this company from death's doorstep and FC and now he has signficantly lightened his load? Doesn't make sense to me either.
So, here we have a big entity with a huge holding, a primary supporter leaving mostly and a SP mired in the 80c range despite clear evidence that it should be appreciating esp with a rising spot gold price envirnoment.
Personally, I am worried that Osisko is planning to take out BGM and is suppressing the SP. Why wouldn't they? They have no benefit for SP to rise? It will only cost them more to acquire the remaining shares. Maybe ES knew that his upside was limited and bailed with the profit he had to put other places (like Novo which is running wild!). Once we get close to the resource estimate and Osisko knows what they have, they could then move to take out BGM at $1.20 or something like that for a "50% premium".
Anyone have any valid reasons why this might NOT be happening? Something is just not right about this SP sitting at this level with such good results.