60 cents target in 6 months, page-20

Hi All

Thanks for all the comments, no offence taken at all I enjoy being challenged and challenging others.

I was perhaps a bit harsh in my assessment of TA, admittedly, I don't look at charts at all when making investment decisions, however, they have their place and I do accept that there are those that can profit from this form of analysis. Although, in my opinion, TA is not a reliable as some might claim.

I do enjoy hearing everyone's chart analysis also.

I focus more on broader fundamentals and I don't really concern myself with short term price fluctuations. I truly see the market as completely irrational in the short term and quite often there are no explanations for certain price actions.

Autosime, thanks for your comments. To explain myself in greater detail regarding a takeover price. I believe that currently there is a big discontent between the SP and the intrinsic value of BDR, notwithstanding the fact that gold could go below AISC, I think BDR is in the process of turning things around and this has yet to be reflected in the SP.

I don't think that the situation is that dire at current, I expect BDR to achieve their stated targets for the 2H, they'll make some debt repayments and be slightly cash accretive.

When 2016 rolls around, they'll have Duckhead to add to their first quarter and I think that most of the issues experienced in 2015 will have been resolved for 2016. Next year could be a good year. I think the market will come around to this viewpoint, it just hasn't happened as yet.

Therefore, when I say that a potential predator wouldn't be able to complete a takeover for less than 50c a share, it isn't in reference to an average SP over any time frame plus a nominal or industry average premium, it's only in reference to my own personal opinion and estimation of intrinsic value. The assumption inferred herein is that the majority of investors agree with me, I might be incorrect on this count but hopefully we'll never have to find out.

Furthermore, if , for arguments sake, there was a takeover bid at 25c, I don't think it would be that hard for the board to put forward a very compelling case for rejection.

I believe Gold is going to go a lot higher, it will be a bumpy and volatile ride, and I'd like to think there are others that share my sentiment.

Although, I could be completely wrong about everything.

Cheers,
Ivan