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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 Chaulkduston Jan 31, 2019 10:13am
67 Views
Post# 29301000

RE:RE:The Saga Continues

RE:RE:The Saga Continues

Hawaiii, I agree with everything you just posted. Everyone has the right to be disappointed in BAR, just look at the stock performance .  Feb 1st 2014 $1.58 (USD) now down to .13 (USD) 5 years later. Only 1 period of growth from Jan 1st 2016 to Aug 1 2016 where the stock temporarily rebounded from .27 to .77 before resuming the decline down to now. Know where to go now but up or out of business. I should have gotten out of BAR a long time ago but for some reason I actually accumulated more on the downslide. Which right now, makes me look like a total idiot given where we are at today.  In my opinion a combination of bad luck and poor management . The luck could change but what about the management? No change in sight for management, DW runs the show with a board that doesn’t represent shareholders and just gets paid and receives stock options for presiding over this disaster.  In a real company the board would have been changed and DW would be long gone, but this is mining and seems to be par for the course especially for the junior explorer sector. Now hopefully everyone can see why they say investing in this sector is extremely risky and why good management is one of the key components to success.  No shareholder activism in any volume to change the picture either. In last June’s elections at BAR 14.2 million shares voted  (about 10% of outstanding) with 96% voting for DW and the 5 board members and 4% votes Withheld. I was a good chunk of the Withheld to voice my disapproval of the management team. I was going to go the shareholder meeting, but ended up not attending. Glad I didn’t go and saved the money, since obviously nobody gave a cr*p anyway. Everyone just happy apparently to be guided to the slaughter house.

Okay, so why am I still here? I could bail out now and take a nice humongous loss on the stock. Looking at BAR I like the possible potential that exists even in spite of the poor management. If I had not been involved in BAR for so long would I buy some stock at the current price – my answer is Yes. So why dump it now? Guess I will stay to bitter end hoping for a change in luck (finding some good holes and expanding the resources). Put up with the poor management since nothing apparently will ever change there, but perhaps things may improve in the future, since I can’t imagine it getting much worse.

I will happily sing the praises of management and forgive all their blatant sins once things get turned around! Until then, I remain a skeptical critic and have all the right in world to  moan, groan and  bit*h as do all my fellow stockholders..


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