OTCQX:BALMF - Post by User
Comment by
Chaulkduston Sep 14, 2019 2:39pm
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Post# 30127203
RE:It seems
RE:It seems
I doubt BAR will do anything until they have finished the phase 2 drilling on area 52 and have received the assay results back. So that puts us out until November for final results? What they find will obviously determine what they may or may not do. If they hit a super high grade hole they may just hold on to the property. While they have no money now they could do a PP if things looked amazing good to continue exploration on area 52. A further dilution of 50m shares would bring in 10+million (CAN) after expenses for exploration and leave BAR at 210 million or so in dilution, still a manageable amount but getting near the critical area. That’s roughly 45,000 meters of drilling including operating costs. If they decide it’s not worth them perusing for whatever reason then maybe a WM deal might be made. The fact that they like what they see so far makes it a bit more intriguing. Why sell anything if there is BIG $$$ to be made with a buyout by a major/junior?
With WM still has a ton of holes out for assaying it would probably be wise for BAR to wait and see where all these holes grade wise are leading to. May help paint a better picture of where the deposits of worth are trending to. So I guess I don't see any urgent need to rush into anything right now.