In the absence of drilling results, it is likely SP may go down further but not much. This is because BGS is a speculative stock at the moment until drilling is completed and resources estimation is done in totality. In other words, we are effectively in an exploration stage and not in a resource exploitation stage.
Kevin might have auger results that he might be using to further refine RC drilling targets. Continual pressure on SP is not a bad outcome to some extent as this put pressure on Kevin to release drilling results early to reassure market.
It is likely that results may be out in the third week of May at the earliest. Therefore, wait until then.
BGS Price at posting:
2.7¢ Sentiment: None Disclosure: Not Held
