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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

Comment by Hawaiiion Jan 31, 2019 5:32am
68 Views
Post# 29300205

RE:The Saga Continues

RE:The Saga ContinuesHey CD, and anyone else that read my previous two rants.

I'm not trying to be pessimistic, I'm really not. I've just been involved in this saga long enough to believe that we are not at all where we should be. It's difficult to try to sell this company to someone when its inexplicable how on the Grasset RE we go to a buck-thirty; almost three years later, still with the Grasset resource, and a proven resource at Martiniere, and now the possibility of a Kambalda -style Type 1 deposit, which sounds like it could cluster over seven kilometers, southeast back towards the Grasset deposit, we now sit at 16 cents. 

As I've asked in many posts in the past, what am i missing? 

If the new discovery dictates that the drilling budget is used to confirm/deny this style of deposit and attempt to expand the Grasset deposit, I don't believe that we have enough cash or time to prove it. And if management truly believe that this is that size and scale a deposit, what is their plan to fund this? How long a program do they expect this to be? And, astro, I get that they're at the mercy of a major, but 3.8M in capital isn't going to go that far. End of the summer, i would guess. Trivial either way. Question is, what is the plan? What are they intending to do before that capital runs out?

And :) my elephant in the room. Martiniere. Why is there no talk of it anymore. If they really believe that this deposit is ~2 million ounces, why did they stop? If they had the momentum of the RE (yes I'm serious) why not have built on that, get it to the 2 million ounces they say are there, sell it, get your credibility back and then take your time on a renewed program at Grasset.

With a handful of different projects, it just seems that there is no defined direction, almost like they're playing whack-a-mole, and they suck at it.
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