Tuesday 24.11.20. POG down, page-31

Decent support at 0.07.

Will look to accumulate at 0.07 as it fundamentally looks undervalued.

Even with the market not being a fan of BDC at the moment, few things haven't changed.
Concentrate off-take agreement any week now.
BFS early 2021
Ore Reserve in early 2021
FID June Quarter 2021
40,000m of drilling

Yes they have a few too many shares on issue than what we all would have preferred.
Yes a substantial part of the resource is refractory ore.
Yes the chart looks horrible and momentum isn't good.

But if BDC achieve production of 135k ounce pa, this will be close to a $1 billion dollar company which is an upside of 8x from current market cap. Yes, still plenty of risk until production but from my point of view, reward outweighs the risk at current prices. Offtake and BFS will de-risk the project further within the next 4-5 months.

All IMO and DYOR