chart - time to liquidate!, page-18

Bolnisi has performed pretty well lately. People are forgetting that not so long ago each shareholder was issued a bonus share for each two shares held. That bonus share is now worth 4c. So really for those shareholders BSG is not 21c or whatever, but is really 23c. And just a couple of days ago, it was up to 22.5c, making its real value with the options added in 24.5c. That's a gain of around 25% in just a couple of months. That's OK.

One possibility for the slowdown in BSG's price might be some shareholders selling some of their main holding, now they realise they've got the share covered for the upside with their sizeable option holding.

Incidentally, BSG was nominated by Ian Parker of Hartleys as a start stock pick in today's Perth's Sunday Times. Hartley's has put a value of 35c on it.

And as someone earlier pointed out (sorry, I can't check who or I'll probably lose all of this) BSG has two feasability studies underway (Oscampo and Roseby) and can fund both out of its copious free cash flow. How many resource stocks can boast of being able to do that?

Cheers, Anne