Balmoral Resources Ltd BALMF

Time to Vent

[Chaulkdust]

It sure would be nice to write something positive about BAR, but is won’t be today. I’m still puzzled by the company’s  strategic  plan (Assuming they have one)? Let’s see - 48 drill holes, 28 in my opinion wasted on Horsefly and Lac du Doigt. Wasted, in the sense that the results did not help, with what Darin calls “Shareholder  Appreciation” and could have been announced any time after some good results were posted. Why do these first, is simply beyond my comprehension given that the share price has been on a steady decline for the last 3 months with no end in sight due the tax season selloff in Canada.  Looks like nothing exists to stop the exodus  for at least the next 4 weeks and of course many new 52 week lows.

So what does this mean? Perhaps the remaining results are not that good in the other areas where the gold potential is supposed to be the highest? I certainly don’t believe that BAR would like a lower stock price to entice a buyer at a better entry point. That would really suck for the shareholders. Perhaps just incompetent marketing skills, and lack of ability to formulation a plan to get the market re-interested in BAR exists.? Right now, one look at the stock chart and people hit the delete key, call their broker and SELL. Can’t say I blame them. Looking to invest, look at the stock chart and say “no thank you”. BAR has now placed itself in a nasty position that it needs to extricate itself from.

What about all the investors that participated in the previous private placements? Now, we are talking about folks with LOTS of shares who must by now be scratching their heads a bit. Hopefully they are on the phone to management and asking what’s going on? My measly couple hundred thousand shares obviously means squat in the big picture but someone else with a lot of shares must surely care out there.

The BAR folks had to know about the typically decline in the tax selloff season at the end of the year. Yet, it appears they did absolutely nothing to help slow this demoralizing stock depreciation over the last 3 months.  Thus, this  now places us in the position of enduring more of this depreciating scenario.

So, what do I do? Well, I hope the last 20 drill holes are back on expanding the gold resource (Martinere and Bug), and the results are great. Darin said a RE isn’t really needed as company geologists can see the charts and figures on the potential gold resource. That’s great, but the investing public are not geologists and need to see tangible results and announcements that are POSTIVE. A good gold RE would help in that regard. A better looking stock chart certainly would help as well. Therefore, I will wait patiently for last 20 drill hole results and buy some prayer beads(probably not a good strategy?). Hopefully, the results will be good, and the news will get out and at least minimize the stock decline.