Most times I make a half-hearted mental note of promising junior...

Most times I make a half-hearted mental note of promising junior gold explorers as mentioned by various  HC posters. Simply because there are too many juniors out there and my cash supply is highly limited.

But 1FDM's several recent posts on BYR piqued my interest and I did some research, which turned out to be well worth the time and effort invested. Thanks heaps for the tip, 1FDM. I hope I might be able to return the favour one day.

Before plunging in to buy 1M shares with my remaining spare cash, I am still considering the following points.

No. share on issue: 843M
No. options on issue: 475M
Performance rights: 17M
Potential total no. of shares on obtaining excellent drilling results: 1.335B.

Assuming that excellent drilling results are realised and that the JORC gold resource parallels those in Kibali at 17 Moz when Mot0 sold its all its gold resources to Rand for $700M. Also assuming that all other economic factors remain unchanged (unlikely, though).

Then a possible scenario is that the sale proceeds from BRY would be approx. $700M/1.335B giving > 50c per share. At the current share price of 2.8c per share, that's the multi-bagger we seek.

However, in the interest of balancing the potential reward with accompanying risks, please read the following article on sovereign risks: http://www.biznews.com/africa/2015/...proposed-tax-2-5bn-kibali-mine-a-non-starter/

Decisions, decisions...