i had struggled with BGL MC and always the analysts put BGL as...

i had struggled with BGL MC and always the analysts put BGL as one of the most expensive per reserve and resource oz - however BGL demonstrate to me that their reserves and resources are only limited by their drilling - could say the same for other Cos but i suggest the limit placed on BGL will end up being completely wrong as the high grade mineralisation is just open on nearly all fronts and that this type of mineralisation could continue on fro some considerable depths. The other thing is that building up huge resources and making out like the Co is cheap is done by many other Cos - BGL are true to keeping costs down and not drilling moho holes from surface which are expensive and hard to control at times, so have been prepared to wait until they have underground drives to drill from which will extend the mineralisation cheaply and quickly. This model hides the true worth of BGL, but is the correct way to begin a mine - get enough for FID build it, and then get serious from cash flow to extend ore bodies. i look at NST MC at 12B - so i think now BGL has plenty of room once producing to at least double their MC