OTCQX:BALMF - Post by User
Comment by
Chaulkduston Dec 13, 2019 2:21pm
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Post# 30452959
RE:Finally
RE:Finally
Yes, Nickel has been totally bizarre. Looks like someone dumped 13,000 tons on 1 day into the market? Obviously, some snake works in action here. I would imagine it will all settle out after a few months into the new year and the inventory will resume its decline to hopefully (0) zero! Be nice to see Nickel hit $10 in 2020 and if it does will BAR be in position to take advantage of it? Looks like the shotgun is now pointed back to Gold? What happened to expanding Grasset so when the time comes we can dump it. Typically BAR”Rope-a-Dope”.
End of year, time for reflection. BAR moved ahead primarily on the WM news/drilling. “Never look a gift horse in mouth”, so we will certainly take it. BAR drilled a few holes in area 52, unfortunately they were shallow holes whose results were somewhat disappointing. We lost some of upward momentum with these weak attempts at defining area 52. With 40-50 meters of overburden and only drilling 200-250 meters really only provides exploration of 150-200 meters of potentially mineable ore, which is just scratching the surface. It was known that the veins in area 51 are narrow at surface and expanding at depth, so we really didn’t have the correct strategy. Now we are in another of the BAR famous “WAIT PERIODS”. They announced a IP study of areas 50 & 52 to commence shortly? This could take perhaps 10 weeks or so to complete if past results reflect the timeline. In August 30th,2018 they announced a IP study of the HWY 810 property, on Nov 13th, 2018 they announced the completion of the study. They also mentioned that drilling would be scheduled for 2019, which never happened (Surprised?). The approximate cost for the IP study which involved HWY 810 and the Nantel Property (which I can’t find?) was a little over $ 1,000,000. Was this money well spent? What will the IP study of area 50 % 52 cost? What will BAR be doing in the meantime? I would think it wise to drill a few deep holes so we get some news (Good or Bad) while waiting 2-3 months for an IP study. We can’t rely on WM to help us forever, management needs to try and capitalize now before all momentum is lost again.