asx resource index summary

A reality check for some......

S&P/ASX100 Resources = 5197.4 (3 Year Low, March 2009)
S&P/ASX200 Resources = 3763 (3 Year Low, March 2009)
S&P/ASX300 Resources = 3806.5 (3 Year Low, March 2009)
S&P/ASX Midcap Resources = 3180.9 (3 Year Low, March 2009)
S&P/ASX Small Resources = 3451.5 (3 Year Low, April 2009)

At our post consolidation low, Balamara Resources was 11.5 cents or a 5 month low.

We are outperforming many resource stocks in a very difficult market for that sector.

This is a VERY VOLATILE stock. Some have commented that we are now down 50% from our 2012 high which is true, but it needs to be remembered that we were also up 120% from our Jan/Feb 2012 low. No, not all stocks are down by 50% from their 2012 highs (although many are), but I bet the majority were also not up 120% in 3 months before the market rot set in.

If blue chip stocks are hitting 3 year lows, what do you expect from speculative stocks???

The important thing to me is that we are not making multiyear lows like many resource stocks, including the majors.

IMO we are not making multiyear lows because the Directors have bought new projects into the Company and also because of the perceived positive news flow that the market is expecting from the Company in the weeks/months to come.

As we all know, there are more new projects to come.

"Balamara continues to do considerable due diligence work on other resource project opportunities in the Balkans region which may bring synergies and benefits to the Company, while at the same time providing size and scale through the consolidation of similar-style assets in the area."

Again IMO, once the market for spec. stocks gets back to "normal", BMB will again be making new highs. As is always the case in times of market volatility, it's now just a waiting game.....