markets can stay irrational longer than people can remain solvent...
in this case, I personally believe the market is being irrational here considering the progress we have made over the 12 months... being an explorer, a lot of it hangs on if we find further discoveries, which is likely needed to get this up (my opinion is that we need just 1 more Ntoila like discovery)...the fact that we could have 3 to 4 ntoilas within the footprint of Viper is something im willing to hold for... knowing that kevin has about another 15 targets to define by auger, il be holding for that too... these deposits (orogenic), like morilla, form in groups from my understanding... I posted an article from RG in 2005 showing that they were seeking another Morilla like deposit within 25km2 (I think from memory), that was there top priority at the time... the fact that we have underexplored ground right next to the plant, gives me confidence that 1 of our 15 targets could easily be this... because I am investing long term, I will let BGS explore this ground and am happy again to accumulate at all prices.
regarding insolvency, I typically make monthly purchases on BGS to smooth out my average price... I do plan on holding long term, as I believe I can get my money back and multiples of it... adding monthly as well will again smooth out at the low and high prices...I will have another purchase on Thursday or Friday...
One of the reasons I stay committed to BGS as its in the gold sector... the gold sector has been smashed over the past 2 to 3 years, its at record lows and provides great leverage to upside in the gold sector via sentiment or direct leverage through a project.
the other reasons are because of management, our prospective ground, our higher chance than most to have an actual pathway to production near term, our same metallurgy to RG, our established relationship with RG (MOU), RG's willingness to share data, Sprott liking this too, attractive Liberia assets... looking back at the 12 months gone, we have had about 6 drilling campaigns... for a junior that is great exposure... we have cash and access to more cash, and at a rate of 1 drilling campaign every 2 months, that's progress... we cant change whats in the ground, but we can certainly try and find it... not many juniors in the gold space that operate at this pace...
also, I believe the fundamentals of gold are actually at near peak records... if you consider the physical demand (not paper), I believe that this will soon cause further panic to the upside as physical shortages become evident over time and paper is exposed for what it is, paper. we also have pretty much every country in the world using the so called printing press, again bullish for gold over time... once the main stream media is exposed for supporting government theory on these so called 'recoveries' we are going through, gold will benefit in the medium to long term (which this is tied to my investment horizon on BGS).
independent media is the way to go and never believe a government these days. for instance, last months jobs growth numbers in the US was spruiked massively by the main stream... however, upon dissecting the numbers, you did not hear them state anything to the actual facts such as, the 288k job increase was 70% based on an assumption, did not consider that over 800,000 people left the job market because they did not even bother looking (because the US is becoming a welfare state), so that's a net almost 500,000 people decline in jobs essentially, and they again pump up that the unemployment rate dropped, (but its because no one is looking!! the participation rate is at 25 year low!) its sad, but it will all unravel over the next year or 2, yellen will be a lady and let ben's tapering continue (for a while)... then its just a matter of time before she comes back and does what she does best, and that is print... just wait for the moment when the FED puts a pause on the tapering... that's the sign that gold will turn...
its pretty much each to their own mate, but you wont see me selling out now or in 12 months time. I will take the opportunity to contribute when and where I see fit.
again, each to their own.
BGS Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
(20min delay)