re: Ann: Melbourne Resource Round Up Conferen... no worries Z.I...

re: Ann: Melbourne Resource Round Up Conferen... no worries Z.

I am happy to say I purchased a smallish holding in BLK today.

I was able to take some profit on DML due to the recent takeover offer.

I think BLK management do need to include some small space in any new presentations they provide to the market regarding their coal project, just so everyone realizes that the gold is currently worth 0 compared to the market cap.
I like the coal space as it is pretty much the ugliest duckling in the pond right now, perhaps with his glowing brother duck - Uranium. The contrarian in me..

Drilling is underway right now, so should not be long before they are able to release a couple of numbers. Also as released today, perhaps even better recovery rates are possible.

Regarding AXM, wow. Just read through their Annual report, not often a company with an MC of $20 million can make a loss of over $50 million! ha.
(( humbledove - sorry but I think your comment regarding it being viable is now a little questionable? )).
I wish all AXM shareholders all the best, as if they have supported the company for this long, they deserve some returns.

To expand a little further regarding what Greg Miles told me, I think that AXM right now is in trouble (obviously), and the last thing that BLK would want is to be in any way linked to what is going on.
i.e. Having a toll treatment deal where AXM abruptly says... ah. we are broke so the deal is off..
Planning and costs that would have been spent on getting ready or even starting the tolling.. then 'poof'. No deal.
Very bad for BLK. Much safer to keep drilling, preparing for their own mobile/stationary plant and having full control.
(The situation could of course change in the future, so yes, good to keep all options open).

Of course, as stated in the recent presentations, other old/underutilized? plants might be available for sale or perhaps even use. I know of other small cap goldies that are trucking ore upto 100 kms away and its still very cost effective (ORS/UML).

If anyone has the time, would be interesting to know what other plants/operations are nearby (I have to mark year 12 assignments tonight). There is obviously a lot of past gold mining that has occurred in the area.

Last thing, regarding funding I think because the company is so small, the raising it recently did, plus its interesting loan/investment arm, means they will be able to drill and prove up resources for a little while before taping the markets again. All IMHO.

I look forward to the scoping study being finished this month.