I made a statement that I was not yet invested in this stock due to 4 reasons
(1) being that That I was not a Fan of Pattersons
Did I mention pump, Who are you to assume this is my beef with Pattersons
You are the one who obviously KNOWS them for the so called PUMP, thank you Jaded for highlighting, this is something that Pattersons are known for I appreciate your input and take note
Before you start telling visitors to a forum to GET OVER IT I think you should take a long hard look and GET OVER YOURSELF
(2) acquiring this asset yet have no cash
they do have cash from asset sales. something like $3mil.
Could you please point me to this $3mil
Pattersons value the Tasmanian asset @ $0
They are due a payment in shares by liongold and a cash sum but this is not cash at hand
They had a total of $164k end of last QTR and there has been no Ann since saying otherwise to the positive.
I asked how any holders might see the dilution going forward
Jaded Did you not write this yourself
Share Research, read between the lines, get the gist, read the Market Dynamic.
Current "CONcern' is the dilution "problem" in BSM going over 500mil shares on Issue and frankly the Siberians seem to be the ones buying On Market since this madagascar deal surfaced
Tell me Jaded why did you Write CONcern the way you did do you see something untoward here or not, do you see the dilution as a problem IE going over 500mil
Because if you do lets take a look at it then
25/9/15 BSM had a total of 376mil shares
31/3/16 BSM have a total of 460mil shares = +84mill shares
BSM have $164k CASH @ HAND
They have projected $275k CASH BURN next QTR = NEG $111k by JUNES END
They have $1.5 mil to find up front to make this happen (dilution )
PLUS along with the above
They will issue a further 75mil BSM shares to stratmin = 535Mil shares
Plus they will issue over the next two years a further $8mil in BSM shares to Stratmin (dilution)
Post Acquisition immediately they will require a further $1.5mil ( dilution ) to upgrade the plant
+ further capital for exploration
+ further capital for the construction of the additional plant down the track
(3) didn’t realy offer up an answer
(4) With regards to directors having skin in the game
Did you actually read my post, did I actually not specify that these directors have absolutely ZIP in the game do you think I guessed this, I have done my research and found it very strange that if this deal is all it is meant to be, then personally I believe they should have their hard earned in along the side of mine and your hard earned,
Jaded you see this skin in the game as over rated which is fine this is your opinion
I see it, and respect it
Directors having bleeding skin in the game chestnut
( I don’t understand this what have chestnuts got to do with anything )
Well at a recent AGM the Directors were DENIED performance share "plan". Obviously the Major Holders the Top 20 etc voted for seeing some Performance not just promised by directors
Well good on them, I am all for shareholders banding together and stopping this ludicrous issue of performance shares for zero performance
WELL DONE LTRs
Don't be shy. Currently this is being "ramped" by Siberians from the Graphite Thread. Our motto is Share Research, read between the lines, get the gist, read the Market Dynamic.
Jaded I am not shy, this is why I am on this thread I came here to ask a few simple questions only to be greeted by your arrogance
Perhaps you would do well to heed your own so called motto
SHARE RESEARCH lol what a joke
Perhaps next time a newcomer comes on this thread you may well bite your tongue JADED and consider the above and actually
SHARE not RIDICULE
you never know that newcomer could well be an information asset down the line
I did not come on here to down ramp but to seek genuine thoughts from long term holders
I did not come here to be bullied by the likes of yourself JADED hence my response
take from my post what you will, its all out there unlike JADEDs fictitious $3mil
Enough said
BSM Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
