AVZ down to 11.5c. I recall buying them for just over 4c in August 2017 but got the jitters about the company & decided to sell for 27.5c shortly after, in November 2017.
I bought into BGS shortly after that- especially after learning that Brendan Borg, another astute investor with loads of experience in Africa & the MD of Celsius Resources (CLA), a cobalt explorer in Namibia, was a major shareholder.(PS: Celsius shares have shot up sinceI invested in mid last year, from 5-6c to about 21c now)
Check out Motley Fool investment advice article on AGY.
"In late morning trade the lithium miner’s shares have emerged from their trading halt and are down 27% to 22 cents. At one stage they fell as much as 40% to 18 cents.
This morning the lithium miner announced that the first batch of lithium carbonate (LCE) has been produced from the stage 1 industrial scale pilot plant at its Rincon lithium project in Salta Province, Argentina.
In contrast BGS has a lot going for it & in terms of:
- Revised Mineral Resource of 65 million tonnes.(and this is from Main, West and Sangar deposits only!
Yando, Danaya and Sabali pegmatites are yet to be included. BGS management advise that "There is a strong
likelihood of further significant increases in the Mineral Resource for the Project") All great news.
Related to the above, BGS 27 April 2018 announcement notes that "Results exceed Birimian’s expectations and validate the strategy to aggressively explore Goulamina. Results bode well for the maiden Ore Reserve and suggest improved project economics in the upcoming revised PFS." More great news.
- Good grades of lithium.
- Good infrastructure.
- Good management team (but need to "sell" the company more, like CLA. Recent appointments are a positive sign in this regard).
- Supportive government.
- Large sums of money to pour in from gold tenements, which means less chances of further share dilution through capital raisings (it will have more than enough capital to get us past the PFS announcement & immediately beyond)
Need I say more?
BGS Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
(20min delay)