BGL 3.25% $1.43 bellevue gold limited

announcement is too opaque

  1. 4,669 Posts.
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    VERY disappointment with the language and tone of this announcement.

    It is opaque.

    Last year the company uncategorically stated at the very head of its announcement, in BOLD:

    * 60m coal seam intersected from surface on first drill hole (this was very 1st bullet point).

    * Second hole intersected 40m coal seam at open pit mineable depth (this was the 2nd bullet point).

    Today's announcement was preceded by a TH stating "a material announcement". Given the drilling has not yet been completed, one is led to believe that what they had to tell us today would be significant.

    But the summary of the announcement in the highlights merely says "coal intersected at surface for nearly 100m during trenching"

    I have NO CLEAR IDEA what the company is trying to tell me when it now says it has "apparent cumulative coal thickness of 20m to 40m per hole" or what it means (relative to how MOST other coal companies report) to "intersect weathered coal during trench digging over a distance of 100m".

    Does any of this mean they have NOT encountered any further coal seams like last year? If not, say so clearly. If yes, then say so.

    There is gross inconsistency in how this has all been communicated relative to previous ASX releases and relative to how most other coal companies reporting drilling results.

    It only adds to the furstration of investors.

    It is not helpful.
 
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