Balmoral Resources Ltd BALMF

The real deal?

[Hawaiii]

Having seen the latest results, as promising as they may be, I still have to express caution ahead of the coming events. I do applaud managements recent change in communications style, and congratulate them on the Area 52 discovery. But, given Balmoral’s history of coming up short and managements fumbling of most information and shareholder relations, I would have to believe one of two things will occur in the next couple months. 

Either, Area 52 is something Balmoral knows to be a significant find and can be a game-changer. In which case, they have to sell one of their properties to fund the campaigns to prove-up Area 52.

Or, Area 52 is another attempt to generate some hype in a ploy to get the share price up to 30-40 cents so they can do another round of financing, and then go back to normal operations with nothing coming from Area 52. 

If they announce a financing campaign in the next couple months, I call bullsh*t on Area 52, and caution people to not buy into the hype. If they sell a property to finance Area 52, then it’s a whole different game. In my opinion, if they think Area 52 is significant, they have to generate the cash to prove it, and not by dilution.