Please don't misunderstand me. I don’t disagree with many here. It all comes down to timing for me and I must admit I have not been very good at that.
When I first got interested in BHS last year I really liked the story but I did not know what management was like and so many other factors. It appeared to me that BHS had all the goods, especially the deposit and grades (and big exploration potential on site) and the first impression I can remember is that BHS would be into production before too long and that is what I liked most. They had already shipped some Steinert processed material to mineral solutions and then had done PPs at 20 cents for about $2.5 million total. There was the capability of operating 350 days/yr. and producing up to 70,000 tons/yr, that could be concentrated 10 to 1 via the ore sorting technology. In June they were ready to process the pile of above ground crushed material. In July the stock was about 10 cents and in Sept more high grade assay results came out. Moriarty did a nice write up in Sept. and called BHS a ‘giant sleeper’ and that no feasibility study would be necessary as they would just go in to high grade production. In Nov. we got the 43-101 giving a maiden resource of 6.3 million ounces @ 21.6 oz/T (673 Gm) …. Very nice! BHS had expended over $6 million on rehab and development on the mine and infrastructure in 4 years. In Nov. high grade sample assays were received up to 186 oz/T. wow!
In Feb. Graham sends letter to shareholders. The objective was mineral extraction cost efficiency and concentration of material to maximize recovery. I seem to think the cost of producing 1 oz. is around $10. Mineral Solutions in Cour d Alene was the right refiner. BHS would high grade the ore and sort to reduce volume, to pay off upfront costs. BHS would see the silver right from the refinery at spot price. A mining engineer is hired as new Director. There is trouble raising money and all warrants are extended. In March BHS produces 1320 ozs. silver and sells it … and then closes PP @ 10 cents for $110,000. In April BHS options Brandywine thus increasing the demand for investment capital of $3 million plus over 5 years. Another PP is done for 7.7 million shares. The PP closes in June and financing raised will be used for drilling and general and administrative costs. It takes money to make money and that is where the rubber meets the road.
Well, that is just a quick overview but there it is … and feel free to correct me or fill in the gaps that I have missed.
I don’t know what to think. Is it simply a matter of waiting for silver to go to $18 of $20 …. That will loosen up access to cash? There is something missing here for me. Is the refiner screwing around? Did G’s new mining engineer director in May discover something that would impede the vertically integrated process from mining to selling the silver? Why can’t some financing be arranged using the silver production as collateral, or some other arrangement … because the product has a guaranteed market. Maybe G has a grand plan and is just on the verge of something. I have no idea now.
Ardbegoil, Greede, CaptainDuff and others have all contributed many very informative and sensible posts here and I can’t disagree with your sentiments and I have no verifiable data to prove a case one way or the other. We all know that gold and silver have had us on the edge of our seats for a long time … with the understandable expectation that they just have to make their bull charge ‘any time’. We have also know for over 20 years that they have been criminally manipulated by the big banks … as witnessed and admitted to. $billions in fines paid but no one in jail. The paper futures markets are the key. The vast horde of silver and gold, each ounce of which that has been sold easily 100 times over can never be recovered by the bullion banks.
We know the sentiment for silver and gold are at all-time lows or nearly so. We see the paltry volume in the PM juniors/explorers. We know that the TSX is seen as a bum's exchange by the hordes and the snooty. We know investors have been addicted to huge gains seen in the pot and crypto markets. We know that these are not free trading markets. We know that computerized trading, front running, block trading, naked shorting, ‘pump and dump’, shorting, black pools, hedge funds and a host of other pitfalls await the out gunned retail investor … and we know that the first, second and third layers of inside investors in these small juniors (in all sectors) get in first and get out with your money … whether the stock is legit or not. We know we live in an era of unsurpassed corruption from top to bottom. BUT, we also know that there will come a day soon when we go back to the past and experience a rerun of a gold/silver BULL run. And all those caveats just mentioned will mean not because we will see greed and speculation reign supreme once again and we will see ten, twenty and 100 fold gains in this precious metals mining and exploration sector. This will be close to the time that the only real thing to trade globally will be silver or gold … or a silver or gold backed currency. Nothing else will … or can be … used as collateral … as exchange for goods or service. And so the wheel comes full circle.
BHS will be there. So will hundreds of others. When it happens enjoy your once-in-a-lifetime experience.
When?
When people finally lose confidence in their governments? When our elected officials do not hear us and are controlled by the ‘cabinet’, caucus, tribunal or supreme court … in turn directly or indirectly controlled by the tiny global moneyed elite in Europe? When global, sovereign, state, municipal and personal debt default? When moral decay and inequality peak? When we disagree with how our hard earned tax dollars are spent and debased without our input or opinions? When law and order collapse? When the toilet paper runs out? When the grid goes down? When our savings lose $ every year because of ‘hidden inflation’/low interest rates? … and our real incomes have not risen for over 20 years? When we see our freedom and liberties erode so far that we are fearful and trapped? When we see our controlled major media extolling only one side of the story? When we realize that the fake news is often real news and that the real news has been paid for and designed? When we realize that the central banks have destroyed our economies and standards of living by design … such that we are all debt slaves? When we realize we are no longer living in capitalistic democracies? When you get arrested for some perceived slight offered up by a think tank or funded splinter group? When we know that there is a tiny elite that have controlled the western democracies via their ownership of all of our money supply? … a grand plan that was birthed hundreds of years ago in Europe when it was realized that those who hold the purse strings of a state control that state (Napolean’s warning). When Woodrow Wilson let the U.S. citizen get goosed by a small elite of foreign bankers in 1913 and created the private banking cartel called the Federal eserve?(see ‘The Creature from Jekyll Island’)? When we realize that Eisenhower’s warning that the military industrial complex would create a deep state government was true? When we finally find out that Kennedy was murdered by them? When we find out that the Twin Towers was perpetrated by them? When we are aghast that geoengineering is and has been the cause of shifting weather patterns that are an act of war and genocide against all humanity … promoted by the UN … and also designed to further impoverish governments by way of mass spending and business destruction? See: Geoengineeringwatch.org.
When it finally hits home that all wars have been caused directly or indirectly by them … and have enriched them along the path of history. And that they have even turned against their own?
When?