the real reason for investing in bsr

The reason I invested in BSR is because:

#1 the Greenstone gold belt they are in is 40% in Mali and 60% in Senegal ...... Mali has a 20Moz mine, a 14 Moz mine + several other 10+ Moz mines

#2 Senegal is the most stable democracy in West Africa (which is why AngloGold has it's regional HQ in Dakar)

#3 Senegal is pro mining = massive tax breaks for producers (far better than Aus)

#4 Senegal is under explored and currently TGZ is the only producer

#5 The major tenement owners are:

TGZ has 1,488 sq km
Rand Gold JV with IAMGOLD on 343 sq km- 3 Moz discovery +/- 20km away
and Bassari permits cover 1000 sq km

Oromins only has 43.5% ownership of 200 sq km and has found a 174th oz potential mine

#6 TGZ have found multiple small open pit high grade opportunities

#7 Director has been buying recently .... & they're issuing options at 30c

#8 Valuations
TGZ C$550
Rand - has too many areas to specify senegal valuation
Oromin $140 M
BSR .... $17 M


Conclusion:
BSR have a really large under-explored area in a prime location where they already have a maiden resource of 240,000 oz.

More Oz will be found in the 1,000 sq km permit area so a JV partner can't be far away ..... otherwise I think BSR will get taken out by a cashed up major. Either way this looks to me like a reasonable 1 way bet at this level.

....... Did I mention the maiden gold resource of 240,000

IMHO with a few proven reserves this company should be worth more than Oromin.



DYOR - information as I see it .... but don't rely on it.