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52.0¢ bardoc gold limited

CymonI share your sentiments and have had the same experience...

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ewartd

2,631 Posts.

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12/10/21

09:58

Post #: 56729317
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Originally posted by CYMON: ↑

I know some of the board quite well and have met with them multiple times over the years.

Of course one could say that my opinion is biased and that may well be the case. After all, I was invested in PLS at an average price of $0.029 with a several million share holding. I was a holder when they obtained Pilgangoora for a "song", as they systematically drilled and proved up the system as well as when they struggled to obtain finance in what was a lithium industry in it's infancy. They were able to arrange financing from overseas albeit it at a high rate. Australian investment firms are often short sighted and often invest on the promise of quick returns so that they may bank a sizable bonus for themselves. They rarely care about the long term potential of a company or industry. Glorified day traders really

Back then there were setbacks as well. Their initial project, Tabba Tabba, a Tantalum mine was put on hold and eventually "canned" when the company entrusted to do the mill build made errors on the design. The mining industry is terribly difficult to succeed in.

In this instance the gold industry has suffered over the last two years as the Bullion Banks in cooperation with the Bank of International Settlements (BIS) to actively reduce their short positions in preparation of Basel iii coming into effect in January 2022. They have done extremely well in closing their shorts as the hedge funds have been increasing theirs. Really, the latter (via algorithms) are just chasing a dot around on a screen without understanding the dynamics of the gold market. I'm sure that post Jan 2022 the gold price will increase substantially.

In any case, the above mentioned Bullion Bank manipulations has lead to a complete detachment from fundamentals such that as of a couple weeks ago almost 100% of US gold related firms were trading under their 200 ma. There has only been two other instances where this has occurred, all of which have subsequently seen a volatile turn around. This, together with the post-merger liquidation of portfolios from stale holders has weighed heavily on the share price. One could argue that management should have been better prepared or at least understood what baggage came with the land they were acquiring, an maybe they should have, however one may equally ask what may be done to accommodate for such things. Perhaps a substantial cap raise and outright takeover would have been better.

Moving on, the same board of directors have managed substantial returns for holders of TKM and GRV, the latter being the standout. Neil has done a magnificent job with GRV and I suggest people take a look at it. A disclaimer being that I do not hold GRV however how much i wish i did hahaha. So are they talented and can you trust them to do the job? I would suggest to take a more wholistic view of performance and understand that the potential to turn BDC around is alive and well.

I have strong belief in the board to get the BDC share price moving substantially higher. A few weeks ago i suggested a possible means to do this and with the recent announcement of the share consolidation, I am much more confident that this is what they are aiming for. For that reason I have been buying up since the announcement a week or so ago. I am now sitting on about 15M and will continue to hoover up should the opportunity present itself.

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Cymon
I share your sentiments and have had the same experience with these Directors who over the years have benefited me and my wife in our retirement for which we’re very grateful and hopefully BDC will come up trumps especially since they have recently increased their holdings significantly. Good luck to holders.

BDC Price at posting: 5.4¢ Sentiment: Buy Disclosure: Held
9 Upvote

2 Great analysis

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