Matchbox20 made a fairly inaccurate comment in stating LOM $98m...

Matchbox20 made a fairly inaccurate comment in stating LOM $98m versus fully diluted mkt cap @$148m. The issue being the $98 was with gold at $1650, at $2200 the LOM is $143m (currently gold is $2221). Fully diluted means another 700m converted options (by my reckoning), which is another $17.5m cash in the bank (happy to be refuted on this).

So matchbox20 should have been comparing $148m (his fully diluted) to $160m (LOM @ $2200 + converted options). This LOM is increased by another $24m when you add in the Black Cat resource

Thats the base point for the company using 126k oz of gold and an AISC of $870. The rest is speculation.

Can they get triple the existing resource from the remaining 90% of the unexplored Jaurdi, can they get an Apolo Hill size strike from Stockdale? None of that is rampant optimism, just speculation based on the known strikes around them

This stock for me is a long term hold. I hope to be 7c by December and god knows what this time next year. But if they drill and post results pre December then it could be 15c-20c.

It's all speculation, but BCN are dependent on no other company for processing or JV issues which makes them an attractive offer, that and their history of paying divvies