BMG 15.4% 1.1¢ bmg resources limited

I've been pushing the board to get drill done.I'm not worry in...

  1. 2,892 Posts.
    lightbulb Created with Sketch. 96
    I've been pushing the board to get drill done.

    I'm not worry in terms of share price go down. Besides those people cannot wait are short term traders. Even if we drill earlier, they would have sell out anyway.

    I'm sort of person like to get things done on time, on budget at minimum cost.

    Yes, I want to get things done but not at $1 million per hole like GLN and only see share price tanked.

    I do agree with board, we need to budget extremely carefully. Never waste a single dollar, get best value out of everything you do. What I like is BMG virtually paid nothing to acquire this project. They bought at absolutely a bargain. They drive extreme hard bargain and still reluctant to hand over $350,000 cash to JV partner for signed the agreement (still making sure everything is ok).

    BMG will spend $400k on 2 holes. GLN done 8 holes, should only cost $1.6 million. GLN raised $4 million recently, raised more from options, yet they are raising several millions at bottom. $4 million should last about 2 years not 4 months. Now they are raising several million. GLN will be back raising another $4 million by November this year.

    Wealth minerals paid about USD$20 million just to buy the land (no geophysics, no drill holes).

 
watchlist Created with Sketch. Add BMG (ASX) to my watchlist
(20min delay)
Last
1.1¢
Change
-0.002(15.4%)
Mkt cap ! $6.972M
Open High Low Value Volume
1.2¢ 1.2¢ 1.1¢ $1.113K 93.58K

Buyers (Bids)

No. Vol. Price($)
6 5201461 1.1¢
 

Sellers (Offers)

Price($) Vol. No.
1.3¢ 1064583 2
View Market Depth
Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
1.2¢
  Change
-0.002 ( 7.69 %)
Open High Low Volume
1.1¢ 1.2¢ 1.1¢ 89752
Last updated 15.34pm 03/05/2024 ?
BMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.