Balmoral Resources Ltd BALMF

Justify

[montybissett]

Unfortunately a lot more going on than marketing. 

Luck
Strategy
Credibility
The bottom line

Luck
As mentioned before we hit ni 2 years earlier we are out of ni businesslate summer 2014. 2 years later we are out of gold business by summer of 16

Strategy
If you listen to JF latest Zurich presentation he highlighted Bar strategy. In and out quickly. That worked with WT but has been the wrong strategy for Bar. Bar thought it could hit some great shallow gold holes and that would be enough to find a buyer. I doubt DW thought he would ever have to present a MRE on gold. In fairness he has presented 2 MRE at the worst times possible.
Then of course we had the perfect opportunity to raise cheap drilling money. Summer of 14 we should have raised 3 or 4 times the amount we raised at a much higher share price. Again DW thought we were going to be out of the resource. Seems to have forgot we could have refunded excess cash back to shl. Then we had huge opportunity to raise cheap money summer of 16. A few months earlier we were putting out MRE on nickle. 

Credibility 
Then to top it off we had number floating around for gold MRE that was obviously bogus. 

The Bottom Line
Is we have 2 fabulous resources. Gold based on shallow drilling. Nickel with last drill holes hitting the sweet spot. Couple billion ca in ground assets. It would seem we have to emphasize both gold and ni going forward this summer. We seemed to have gotten way more bang for the buck at Grass. 20 million for 1 billion. Guessing 40 million for a billion at Mart. Plus we have serious dinero drilled in other areas unfortunately. Mgt seems to realize they have painted us into a corner and to reach value we need a JV. Realization is a start. We could sit and wait for sustained 7 and 8.00 ni. If you consider the MRE nickel and exchange rate we are at a 7 now.  Unfortunately bad decisions have been made and were now having to make decisions from weakeness not strength. I think and hope from his remarks DW is willing to sit on Grass. Hopefully willing to wait for turn in gold jr market also. The one thing they can do to get a bit of credibility back is to open up their wallet and stop talking about WT and use money made from project to show shl talk is cheap but whiskey cost dinero. If you knew about the past and analysed this project and looked at assets and how they were arrived and company was valued at 25 million inc cash. I would think you would buy. 

GLTA