Great post Chip, and I can only agree with all of your thoughts.
A crappy register is bad in the short term, but... provides opportunity to all those with some patience I guess.
The company will require quite a lot of pre-stripping, which does indeed give the project, more risk, than say CMM.
Yet... BDC will likely produce around the same rates, with a somewhat higher AISC. So the 6x E/V price mismatch, will surely change, no matter how many weak retail holders there are (eventually... ha).
I think I am reading too many threads, but someone asks about the pay-ability of the concentrate, the MD recently stated that he is looking at a 90-95% pay-ability (or.. potentially, just a 5% discount to the spot price in gold (but.. due to the players not parading the prices they pay, it can seem likes its a murkier market). Slightly off topic, but.. could an offtake partner take a position in the company? (not sure I have seen this anywhere, but... just seems like something left of field that could occur). As I have seen the likes of Sprott (not an offtake partner), take large positions in other developers, mainly located in SEA.
I look forward to seeing you take a position. FOMO can be a powerful driver, but I do hope that the SP moves.. on either drill results, the updated reserves, or the DFS (which is still a way off). Just to put that in context, OBM and CAI both doubled their share prices, after they released their DFS/PFS ( CAIs DFS is still to come). So I do feel that BDC did get a little unlucky with the timing of their PFS (markets were in free fall).
Not that I really mind, as it means the opportunity to be buying at these prices.
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