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Bullboard - Stock Discussion Forum Birch Hill Gold Corp. FNTRF

GREY:FNTRF - Post Discussion

Birch Hill Gold Corp. > Update from Foundation...
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Post by buyingitup on Aug 17, 2010 5:46pm

Update from Foundation...

Received a response from them today. There's no plans to touch San Rafael at all this year. They will be focusing on Coldstream and Coldstream alone to prove up the resources. In my opinion, they had better hope for equal or greater results on the last 50% of Phase II than they had on the first 50% of Phase II or else this thing will be getting dumped in to hell.

I have bought all I am going to in this play. My last bid was at 31 cents which of course filled and then this thing tumbled back to 28 cents. Good news is bids are building again at 29 cents and the ask is 31 cents so any buying will increase the price from it's current position. But bottom line is this thing is going nowhere and it's going to be one of those long holds. I think in the end, as long as they can prove up the resources at Coldstream and start doing the same for San Rafael, we will see our day. But until then, don't look at your bank statement, unless you want a heart attack.

I'm still optimistic on this Phase II drilling and I expect great results. But you never know.

Comment by Weiner01 on Aug 17, 2010 6:28pm
Buying itup, they havent release the results on the first 50% of the phase two drilling. They have released three holes. I imagine they will be releasing results over the next two to three weeks. Like you, I am hoping that they are as good or better than the first phase drilling. With 8000M of drilling, there has to be some good results in there.
Comment by buyingitup on Aug 17, 2010 7:19pm
Yeah...but the first 3 holes were great and the stock still sold off. So I'm a little concerned, but hopeful that all that meant was that investors were waiting for more results to see if it was "too good to be true" or the real deal.
Comment by Weiner01 on Aug 18, 2010 10:22am
I imagine people are waiting for more results to prove Coldstream is the real deal. They already have a none 43-101 of 234,000 oz, that is a great start. Just need to prove it up.
Comment by trendisafriend on Aug 19, 2010 1:08pm
Buyingitup, I think the stock sold off as the market was the weakest in general at that time. The venture market has gotten much better since then, and I dont think releasing news in September is the best thing in regards to news flow. One only has to look at the share price, to see the interest. We are now sub 30 cent level.
Comment by trendisafriend on Aug 19, 2010 1:11pm
But, with no news until September and a lot of shares coming free trade in about 4 to 5 weeks, not sure what to say.I sure hope news is sometime in early September, as technically speaking I am waiting for more bullish indicators.Some of us have been here for a long time since the 15 cent days.  We did trade into much higher levels, now we are at a double bagger type of price. Sure would like ...more  
Comment by buyingitup on Aug 19, 2010 3:36pm
Bottom F'in line is that the market has lost complete interest in this and likely respect for them is out the window too. They have offered up great results but no one seems to care. I have added all I will to this and will sit back and hold and hope. Maybe once Phase II is completely finished, we will see this thing pop a little bit.Until then, good luck. Hope and prayer is all we've ...more