I'm more of an ex-holder than your typical non-holder and have been in and followed BSX for the past 5 years. I don't represent any institution. I take the concept of DYOR well beyond what your typical retail investor does, and it includes learning everything about a company, logical analysis, how the actual stock market operates, and all the various trading/investing strategies that are out there. I have my own detailed version of the PFS breakdown in excel that I frequently update as both the company and the market fluctuates.
BSX had everything they needed to get a 2Mtpa operation up and running quickly back in the day. SInce then, SW wasted time moving to an 8Mtpa operation which delayed the PFS, this then flowed thru to partners, then the DFS, which then had to be amended for the recent Wabowden option, which has flowed through to partners again, which will flow through to FID and construction. All the while missing the Ni bull run. I had faith early in BSX and management, but they have since done nothing but disappoint through failed timelines, dodgy practices (Samso, partners, late paperwork), and failure to keep the market accurately informed. I have a long list of dodgy directors to avoid, and the list just may be getting longer.
I won't be disappointed if the BSX SP goes for a run, I'll be able to confidently join it when the time comes with my detailed knowledge of the company both the good and the bad. But I'm not willing to have funds tied up during 2 yrs of disappointment whilst sitting on a big paper loss like some holders have, in the hope that SW gets his act together and the SP can get back to break even or better. BSX still has many questions to answer before the risk v reward swings back in my favour. There's always plenty of stocks out there that have potential and good timing.
Why do I still post here? There are a few reasons:
1. Posting on Hot Copper serves as an archive of my thoughts and reasoning on a stock. held or not. It provides a way to review trades and hence get better with trading/investing. And also aids when considering re-entering a particular stock.
2. Having spent many years now in this end of the market, I have little tolerance for blatant rampy posts, factually incorrect posts, illogical posts, and those people whose intentions are purely to pump a stock that they hold. Especially if it is a stock that I'm interested in, as it clouds judgement. I make no apologies for calling such people out.
3. There's plenty of people out there that are uneducated in the stock market workings. Some of them actually want to learn and get better rather than just hoping for a lotto retirement ticket. Hopefully they find something useful in my posts and learn what DYOR actually means, and the level it needs to be done to.
4. I'd rather buy into BSX at 10c fully confident, than sub 7c with zero confidence. When the time comes, it'll allow me to jump in harder, which will allow me to recoup any potential loss of profit caused by the later entry.
GLTAH
BSX Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held
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