The reality is that this situation is directly related to poor quality managers. The buck stops there. We have good reason to be angry, and to demand some prize scalps. Having said that, the gold is still in the ground, thankfully, and not even the most mind-numbingly incompetent Board can completely obliterate the underlying value of this group. And for this reason the last thing we want to do is to play right into the hands of some opportunistic neighbour sniffing desperation in the air, and throwing us a lowball offer, with too many unthinking holders ready to grab whatever comes their way. No way. The announcement today clearly shows this to be a turnaround story, and the only way we could justify accepting a TO offer if it was well north of $1.
BGL Price at posting:
$1.15 Sentiment: Hold Disclosure: Held
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