Timing is everything. I was lucky enough to but PLS at $0.029, several months before their announcement of the Pilgangoora tenement. It then went through many months of languishing in the single digits as people bashed it and management here on HC. Suggestions of over drilling etc. Look at it now.
BDC has similarly been unloved, but for different reasons. PLS was unloved because they where the first in the lithium space, the sector wasn't well understood and had many were critical. Funding was also terribly difficult to arrange. Early fund and insto holders would dump for stag profits, exercise options and then dump them too.
In this instance, the acquisition of stranded assets and the subsequent planning to develop isn't as sexy as the multitude of announcements you would get from an explorer, yet the gold we know with certainty is there. As Rob has stated before the best place to find a million ounces is next to another million ounces. I'm certain the team will clean up and find many more ounces over the coming years. It is now, as we head into the FID and finance, that instos will have the mandate to invest. I'm hopeful that we will see volume pick up over the coming weeks. The chart is also showing some green shoot signs which will help.
In some ways, being retail has it's benefits in that you can build a sizable position before the funds arrive. Start hoovering up guys.
BDC Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
