@V
Nice to hear from you after quite some time.
Yes, this dog has been really frustrating.
I guess there is nothing you and me can do, other than to wait it out.
Selling out here is not an option for me.
I hold a large position but this dog is so cheap it only represents circa 10% of my holding.
You could still trade this dog as it is going no where in a hurry until they fix up all the issues.
It is going through cleansing process.........most retail traders, speculators, investors are out or in the process of getting out.
Investors with long term view are holding and have bought those shares. I have noticed some new names on the Top 20 list. All large shareholders are still on the register with the exception of Colonial and Paradice.
Paradice sold out around 20-16c and Colonial sold out from 18-8c.
Yet as of 31st March 2018 the top 20 are holding above 75%
Most retail shareholders blame Simon Jackson for all this mess, but the truth is Simon Jackson is not the only one who makes decision. There is the whole board & management & the large shareholders.
If they have chosen this path, then must be in the best interest of the company, management and its shareholders. I also take comfort that the Chairman Craig Redhead owns a heap of shares approx. 3.7 million. He would also like to see the value grow.
However, it is not happening overnight and may take a couple of more years.
As about Gold, I think it is trading at a very very good level.
There is not much upside on the gold price from here for sometime unless inflation gets out of control and rates are jacked higher.
You can tell by observing the action in the miners. The miners are not pricing higher gold price rather flat to a very slight bias to the upside. The one who are making decent money are rewarded according to the merit and the one who are struggling are rightfully in the penalty box. If the market would have sniffed higher gold price all the dogs would have been bought aggressively in a hurry before you could place your buy order.
USD 1300- 1350 is level were all miners including BDR should be making good money. I have invested in all miners with that price range in mind. I don't believe on those China/Russia/India BS gold trade. Just think about it, if those 3 countries are the largest buyer of physical gold, why on earth would these nation would like to see higher gold prices, if not anything they would love lower prices so that they can buy with less money. I am tired of hearing China will push the price higher bla bla.....all those Yuan Oil//Gold trade nonsense.
I had some big play in RMS, SLR, MOY.....and have done okay. WGX is giving headaches.
Speaking of WGX it has burnt a hell lot more money than BDR in the last two years, yet the market treats it more favourably. BDR has always been the whipping boy of the ASX gold miner sector.
So I fully support management's decision to move the trading business to TSX/Canada.
I like to think that in few years time BDR/Americano is producing lots of gold, finding lots of gold, growing cash, growing resources and reserves and put the icing on the cake the Gold price is above USD 1500. I'm still dreaming mate.
