RE:This is the Best news and it's not me spinning it….Good post J103 There is little to argue with or debate, however, this was Jens plan or atlest his practise prior to the coupe by Deluce. It would seem that many here, without the wisdom or experience of OSK would certainly not have gone off on some exploratory area with shallow drilling in the first place! Honestly, I think the long BFD shareholders deserve credit, this has not been a smooth or even a effeicient or intelligent demonstration thus far. YES, STUART NEEDS TO BE REMOVED FROM ANY AND ALL AFFILIATION TO RESTORE CONFIDENCE AND ACCOUNTABILITY.
I have posted many times that for some 7 million dollars all in so far, give or take, that OSK has already stolen BFD. Would it not seem appropriate for the other assets to be spun out into another company on a paper share ratio? The problem from the start was that OSK took over full control of BFD, rather than an independant person running the company representing BFD...a person like Jens, but not Jens. Let me put it this way...If anyone here was running BFD now, would you not separate and spinout the assets? By not doing so in my view it is a demonstration of the selfserving and opportunistic approach of OSK...an opportunistic approach they were the victim of when Goldcorp took a run at them.
How does this end? OSK has informed the market that they will be purchasing their own shares in the market. Why? Consolidation of the area and minumal dilution. OSK shares will rise rightly so as they are posting great results, but the purchasing and cancelling of shares won't hurt either! When an offer comes from OSK and its share price is north of $5 or $6 what will be the price of BFD, for the forseeable future BFD will be idle. Even the coffee pot will not see much work I expect. Again,the mistake was giving OSK full unincumbered control, for peanuts, of all BFD assets!!!! Voting shares at the AGM will be a time to vote your shares accordingly to send the message. The big shareholders have big pockets and connections. Leadership to right this ship is possible. Everyone seems to think a buyout is the end all, be all...I will go back to an earlier post this week. I stated this play is about three things...Time, money, and drill results. I will add ASSETS, to that. There is alot of value at play here and I for one, seeing OSK holding 27 percent of BFD, in my mind, is nolonger positive from a value/investment wise position.. Money will be made, but more has been lost. All in my view.