mc117, There are numerous gold explorers operating in Burkina...

mc117,

There are numerous gold explorers operating in Burkina that have been beaten down and forgotten by the market, most have defined resources and others are very close. Most are running out of money but time won't run out as long as they can demonstrate to the market and the government in Burkina that they are still working. The country has proved to be a leader in opening new gold mines and opportunities in the exploration space sill abound with considerable potential to discover significant new deposits. One has only to look at the success that OBS had in only a few short years. If investors back here in Australia weren't so hopeless that company could have achieved a far better result for its shareholders. I think market caps of some of these stocks are at incredibly low levels. My strategy for more than a year now is to invest in these beaten down stocks. I am slowly accumulating, but you have to be aware that more money will always be required, so I buy a few here and there as milestones are reached and wait to see what the next capital raising brings to the share prices of the various stocks. I only have one rule. The company must be actively pursuing it goals, even if it is in a small way. I marvel at the market caps of some of these stocks given the exploration assets that they hold. MDI comes to mind in this class. This company hasn't met my rule and I have ceased buying their stock although its market cap seems an absolute steal. One of these companies will eventually unearth another valuable gold deposit eventually, so although you may lose on one or two, the one that wins should cover the speculative loses on the others. Never right off the power of a good gold discovery.

Eshmun