I think it was because Sprott had 14% or more heads prior to the Lithium acquisition, and sold out pushing the SP down fractionally for a short time.. (note Our Chairman WW bought 1million of those heads @. 0.06? A share I'm lead to believe)
Barney's in the (couldn't care less camp) regarding news or significant holding disclosure...as it is what it is...
Getting back to Sprott, (only speculating) and we mere long-term holders have discussed this in depth..but the Lithium acquisition and the Merchant/Hartley CR could of pushed Sprotts hand and they are happy now with a free option play that if exercised will still allow them to have a substantial holding... Rick Rule and Eric Sprott only invest in Multi bagger potentials, which is quite significant if one was to invest for the longterm...
1)Hardly any capex
2)Randgold agreed to assist in Mine Permitting
3)BGS stopped the drilling of its gold deposits as funds were low, but also it wasn't a priority to spend unnecessarily on proving up a definitive resource, when RG will do the heavy lifting (IMO)..
4)for a period our MD and Geo with an Honours degree in said skills, (not an Accountant (sorry Boy1) or Lawyer as our MD) choose to receive shares in lieu of salary... This in Barney's opinion has cemented the direction and focus of a longterm strategy, and enforced the opinion BGS is a prospect generator with a prosperous future...(management aren't selling their shares yet are they)))
Barney's following the Smart money, just patiently waiting for pay day..
BGS Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
