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Balmoral Resources Ltd BALMF

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.


OTCQX:BALMF - Post by User

Post by kbagaion Feb 08, 2018 12:11pm
129 Views
Post# 27527227

RE

RESpoke to John yesterday, he mentioned that the guidance of 1.5m ozs to 2.5m ozs is based on the full system and not the upcoming RE. So do not hope for a big move in the stock price post the results.

I infer the results would confirm the complexity of the system and clearly state all the reasons why we did not get a RE earlier. Likely, there is not enough gold, or it is uneconomical to have a mine there at these prices.

The share count is already overblown. Expect dilution to eternity. The management is happy with the awards, but the fortune is always made on rewards. The snail speed drilling over the last six years, lack of RE, no major strategics in the ownership structure and lack of skin in the game by the very own manamegemnt makes it a great stock, only shorting purposes. 
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