Ann: Trading Halt, page-468

You're happy to be done a dusted with this guy and you posted that.

Ok, now that you've laid bare the price action on KDR for this forum to read and ridicule I'll tell you what I think of the BDR price action today.

I think that the boys and girls at Hartelys sent the local office lackey (I wouldn't even be surprised if you ain't you GE) down to Office Works to by more double adaptors and power boards so that they can plug in even more algos and bots and load up the electrical system in the office to the point of failure in their attempt to push this capital raising for everything that its got. Not really a great result for all that effort. What's more in the frenzied enthusiasm that they've created amongst starry eyed retail punters they'll be dropping and churning trough trades like no tomorrow to lock in their 23% stag profits before letting it drift back to start it all over again. After another dozen of these cycles and after they have made tens of million in churn the time will come for the vote after which the full quarter billion shares will hit the register and the price will quickly drift back to below the raising price as the realisation sinks in that those same old tired assets won't produce diddly squat through the wet season and the $50 million raised will really largely go to retire the ~$39 million of net debt (as at Dec 2015) and not much more. Whatever pitiful amount remains will be wasted on exploration when in fact the company has reserves that should last them 8 years if the company's resource statements are to be believed and that's a big if, because why else would they need to explore if the gold in their reserves is any good, which it obviously can't be or else they would just mine them and make some money for shareholders. Even if they scrap enough money out of the capital raising to do a feasibility on their UG mine they will be left needing to raise another $60 million to develop an ore body which will be boarder line marginal with a grade of less than 5g/t and will need to obtain debt funding and you'll all find yourselves back at the beginning owning about $50 million to the banks. Eshmun