Us long termers have been calling this an easy $2 stock all along, which is why the past few weeks haven’t been a huge shock to me… I’ve been anticipating it for over 2 years now, so a rise to 70c is just a part of the process... about time if you ask me!
Speaking with other long termers such as yourself, despite their very high returns on investment at current prices, their price targets to start selling down their stock are still >$2/share due to BGS blatantly still having so much more value to unlock.
With so much stock held by the aforementioned long termers, this places a huge constriction on the register as no one is willing to let their shares go at these cheap prices. This makes it so much harder for these deep pocket accumulators to pick up a substantial amount of shares without pushing the price up 20c at a time, as we have seen over the past couple of weeks. This is a net benefit for anyone currently holding shares as it results in the share price running higher and at a faster rate.
The big boys paying up this week can clearly see the upside going forward, and they wouldn’t be buying off the sell stack in these quantities if they didn’t see bags ahead. These guys aren’t here to mess around and clearly aren’t playing for pips.
$1.50 share price is just around the corner now.
Soon after that will be $3 and beyond.
In my opinion, a major will take this out next year at >$5/share with our Chairman, James McKay closing the SECOND billion dollar deal of his career in resources. Not many other companies can boast a deal maker of that capacity on their board… or even as a contractor
As much as I would love to go mining, am almost 10 bag from current prices will be too tempting to refuse for most shareholders, in my opinion.
I think all of this is going to play out much quicker than we can anticipate, partly because we have moved so slow and been held back with the painful but necessary voluntary suspension earlier this year. The Tortoise and The Hare, anyone?
Look how Kodal have been extorted out of 10% of their project by not understanding how to operate an exploration company in Mali. Just think, that could have easily been BGS had the RM’s not stepped in and booted out previous incompetent management, enabling new management to empower our impressive in-country manager, Sidi Haidara and also bring in the right Mali based accountants and lawyers to ensure all of our leases are hunky dory, which they all are.
As
@boy1 said, these large gains as of late are justified and not unexpected, as BGS is playing catch up due to missing the huge lithium rally towards the end of last year, and the second one earlier this year due to being in voluntary suspension, let alone all of the BGS specific news that has developed since then:
• Conceptual project scale increased from ~30Mt project to ~300Mt project
• Project no longer landlocked with revised PFS operating costs sub $275/t
• New outstanding management team & technical appointments
• Project development accelerated with production scheduled for 2019 (no it reason couldn't be sooner if financing is received sooner than expected...)
• Advanced discussions underway with large Chinese companies begging for large scale lithium supply by 2019……..
• Gold deal due to be finalised imminently providing a hedge & >$12M per year in annual risk free income for min. the next 2 years
Only now are we gaining some traction, yet still trading at a mere fraction of peers… not even factoring carbonate plant potential… did I mention the gold?
Thanks again to all of the RM’s involved in the 249D process which has enabled us to reap the rewards we are seeing today - not to mention the shareholders who voted in favour of it!
And thanks especially to our new management team who are doing a stellar job steering the ship forward, transforming the company into something bigger and better than we could have imagined during the arduous suspension period, and pushing the share price into new all-time highs.
We are in uncharted territory now, me hearties… onwards upwards from here!
Merry Christmas all!!!
