That is true, but the market often doesn't buy that reality, for whatever reasons.
BGD has a market cap of 60m with 1.6moz of gold resource, but there are multiple companies listed on the ASX with resources of only 700koz or 800koz with market caps of 120m plus, more than double that of BGD.
Why?
Because those companies have grades of between 3 g/t to 5 g/t.
The market is lazy, it wants easy gold and low risk, it's like a lot of people, it wants to do the minimum work for more than a maximum reward and outcome. The market is a pseudo-thief.
You are correct about CMM though, it seems to be an exception because it has huge tonnage that is easily mine-able, and it has the right marketing and funding and big hitters behind it - with them, it's all about the people and connections here in Perth. Like everything, if you know the right people and they are influential wealthy big hitters, then anything is possible, even a much inflated share price.
I'm hoping that BGD will also be an exception, and the professionalism with which these guys have handled the development so far gives me hope. BGD is a quality outfit, as far as I can see.
Gw
BGD Price at posting:
28.0¢ Sentiment: None Disclosure: Held
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