Balmoral Resources Ltd BALMF

Walking in circles...

[astrorbit]

The presentation is now dated march 2019.

https://www.balmoralresources.com/investors/presentations

About the only thing changed is the date and cash position.

No mention of drilling.

Unless a drastic change happens a new low is coming.

$3M left.

Not even a plan? The year is almost over :) It will be 2020 soon.

[chaney]

They usually change presentation when they are going to add something new, will they be doing that this time? Maybe updating presentation date for PDAC. The year is almost over?

[Hawaiii]

Chaney, they have nothing new, and have nothing to add to any presentation. I’d guess they’re trying to sell they’re percentage of Northshore to CBLT and use those funds towards drilling on the GUC. Otherwise, PDAC comes and goes with nothing again. Good thing nobody’s in a rush. Next news April, and it’ll be as thrilling as the last two. 

[chaney]

Hawaii, I think we are all a little frustrated. In order to remain in this stock one would have to have some confidence that management is doing something and not sitting around with their thumb in their butt. A question for you, if you didn't know about this stock until today after last PRs would you buy this stock today at .15 or .16?

[Hawaiii]

Hey Chaney If I were to happen upon this stock today, and did my due diligence, there’d be no way I’d buy it. Too many unknowns. Why did the price lose >70% over the past year? Why has the stock dropped >90% from it’s highs?  Why did the price drop shortly after each of the resource estimates they published? What’s wrong with the properties? Why are no majors or producers interested in

[chaney]

Hawaii, I hear you but those questions below apply to almost all base metal stocks on TSX so there's zero to buy. Look at GGI, I think it went up over $5 down to .86 and around a $1 now. No doubt about it, it's been ugly but at this point I think I would rather take a chance at buying at .15 than selling and losing. I think we've reached critical mass at Grassett as per that last PR.

[Hawaiii]

Nor am I going anywhere, and nor will it kill me either. And, yes, I am stupid enough to still be buying at 15 as well. Might as well go big, right?  You say we’ve reached critical mass at Grasset. Do you mean to say that we are now in excess of 100k tons of nickel? And if so, wouldn’t you think that an updated RE on Grasset would be worthwhile publishing now? A legit 100k tons of nickel

[chaney]

Yes to the 100k. I think it's a good question to ask John for anyone attending PDAC this up coming week regarding the RE. The drill is turning at Grasset so with some luck we'll get news late this month or next. One year they did manage to get a quick turaround for PDAC, I, know , I know, wishful thinking.

[astrorbit]

$7-$8 nickel price would give 103K https://www.youtube.com/watch?time_continue=493&v=SdkKFNf7X9w 8:00Mark. Current is 55K The issue is why no major investors? A new RE won't happen for many reasons. Not enough cash which leads to less Metres drilled. If one does occur it will be when it will be at critical mass based on $6. Major problem is cash. If this next drill program is $1M and

[Hawaiii]

Astro, if they’re going to hit new lows, it’ll be long before November or December. With that 3 million in cash, they can’t get through the summer. Something has to happen in the near future, and I really hope it isn’t further dilution. 

[chaney]

Astro, so you're given this latest drilling zero? You're not alone the market is treating it like its still at 55k. So these latest drilling results at deeper levels added zero? I know I'm repeating myself. I thought the whole point of drilling deeper was to prove just that. Higher nickel price will also add more.  Cobalt results were pretty impressive as well. [aaquote

[chaney]

One other matter, I don't see Canada as a friendly place when it comes to mining and oil investments, it's time we get someone in Ottawa who cares and starts promoting it as a great place to invest which it could and should be.

[Hawaiii]

Also Chaney, in order to get out of this stock one would need to be willing to take a 70-80% loss, assuming they were in it long, which I assume you and I both are. Confidence in management doesn’t really have much to do with it anymore. It’s a matter of stupidity at this point, it seems.