OTCQX:BALMF - Post by User
Post by
astrorbiton Mar 29, 2018 7:29pm
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Post# 27806248
It took 7 years to get the RE.
It took 7 years to get the RE.No matter how you slice it the time of 7 years for 590,000ounces is bad.
84,000per year.
The intention was to drill for more years and never issue a RE. Imagine that after 10 years. At the same rate of discovery it would still be under 1million.
Now the cycle of drilling and financing at the new low for BAR. 5000M winter 2018 drill program likely won't have much impact on share price.
Financing in Sept/Oct.
Management knows that DGC doesn't need resources with 23years. BAR needs to be cautious on how fast and how many millions are spent each year.
It is a balancing act. Now if there were other companies it may be of different story. 590,000 is still worth something. Difficultly now is capital will be raised at a discount. A million dollar drill hole to prove up depth potential.
BAR should provide a calendar or schedule of the game plan going forward. As it stands now there are no significant milestones left on the gold. The next resource update will be 2-3 years or 7.
PEA looks to be off the table.
The only way would be to sell an asset or two.
A new discovery may impact share price for the short term but knowing it will take years to drill and confirm.
The road ahead looks bumpy.