Top up or miss out, page-2425

If you read what I wrote it said "as has been mentioned by a few posters, drilling around in palaeo channels isn't very likely to strike a big resource."
BCN have said they will drill 3200m AC to the Lost Dog Extension.
Check out some of the BCN releases from earlier this year about that same Lost Dog Extension;




As is blatantly obvious these are narrow, low grade intercepts, with a very high proportion of NSI (no significant intercepts). Admittedly they are at 50m centres on only a handful of lines which are a wide distance apart. The only gold hit was in the anomalous placer gold mineralisation within the palaeo channel, and from figure 6 above it's a very small part of the overall channel. Reporting results like these with many NSI's and a few hits of up 1.0g/t over 4m won't be getting the market hard.

As you can recall Panther provided nearly 10,000 oz at 1.36g/t


We all know what this did to the share price.

Plenty of explorers have hit far greater widths and grades and been sold of heavily recently. BCN chasing the mythical source of this ancient gold river is like embarking on the proverbial goose chase. I understand it's hard to compare BCN - with their plant and equipment - to an explorer, and this drilling campaign is merely to add a couple of economical ounces to their current resource. But in my opinion, odds are this extension to Lost Dog will not be the catalyst to get the SP climbing.
I hope I'm wrong.

It seems to me that the only benefit for BCN from here will be the upcoming dividends. With banks and other bluechips like Woodside cutting their dividends all over the show it would make sense for BCN to get the debentures paid off and some media out there announcing their dividend policy officially. Why not try and get some of those mum and pop investors out of their NAB / CBA / WPL positions and over onto the BCN play, especially in the current environment when BCN can offer substantially higher divis.