I kind of share the same sentiment as you. If it wasnt for them i wouldn't have been able to pick up 350k shares few days ago.
To the new buyers, be grateful that there are sellers who are willing to give their shares to you at under 10c becauae after they finish their shares there wont be many sellers. They are a few lucky ones to have picked up the shares at dirt cheap prices and are willing to hand them over to you for some profit (good on them and fair) because there were not much shares sold over the last 7 days. Many of those cheap shares were bought up by the top40 shareholders and i am one of them. These long term shareholders are here for the much higher share price that is in multiples of the excercise price of 45c that latest director Kenny Lee was happy to take 7mil options with.
You don't need to look too far to see how bez is severely mispriced. Look at AGC, it just drilled and hit some gold and it was valued at $120mil at some point and is still sitting at $60mil-$70mil MC today. That is how it is valued after 1st round of drilling hitting some very ordinary gold. It will need to drill 5 to 7 more rounds, taking 2-3 years of drilling, probably $100mil expense for drilling and general expenses during that 2-3 years before it can compile its maiden resource MRE. It will then need to spend another 1-2 years to keep drilling to upgrade its resource and there is absolutely no guarantee that it will ever come to a reasonably economical resource. Forget about PFS, pilot plant, EIA, DFS, and numerous rounds of metallurgical studies, off-take agreementsand fundings....long long way ahead and high uncertainty.
Besra is currently valued at $12mil-$13mil EV after $27mil cash. It will re-rate in big way in the weeks and months ahead IMO.
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1 | 15000 | 0.066 |
2 | 25384 | 0.065 |
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1 | 16600 | 0.060 |
Price($) | Vol. | No. |
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0.079 | 55170 | 1 |
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