RE:This company has been BS for a long time @hdawgz1: you are right, BEA did a reverse split in June 20219 - 8:1 to try to keep the share price higher. Nevertheless, the price dipped to 2 cents. I wouldn't necessarily call MGX a scam company.
The whole Kibby Basin Project was approached the wrong way, in my opinion. It probably takes 5 to 10 wells to explore this, each costing about $300/k. At first BEA tried to do this alone, then MGX came in at $300/k. This was almost like playing the lottery. Either we hit the vein or we run out of money. The latter happened and both companies lost money. Also the intention to explore the Kibby Basin with Pan Andean Minerals recently was not successful. In my opinion, the Kibby Basin needs a partner who can inject $ 3 to 5 million into a drilling program and not $ 300/k, which would only continue to play the lottery.
The main activity of BEA is now again on gold / silver / copper and there the management has a long and successful experience.
If BEA would fully bet on the Kibby Basin, I only see a success if they get a major player on board.
At the moment, I assume that the trading halt points to a major player (with smaller JV they did it over the weekend). For which business segment? No idea - I just hope they have learned from past mistakes in the Kibby Basin.