BDR Analysis, page-2

Can I please have some of the NST shares at $2.54? You may be dreaming of a gold down turn to achieve that price? In which case all those other shares in your list would be trashed.

I suggest you set a much lower target price for BDR than what you have there. We will not see 51 cents for a long time unless the gold price skyrockets. There are far too many shares on issue and net cashflow would not justify that price (it is probably negative this quarter given the capex and exploration spend). Plus the market needs to see a turnaround in operations, which may not be achieved until the second half of 2018.

BDR is a spec play on a successful operational turnaround and/or higher gold price.

I would love to see them having a milling grade of what is shown as their pit reserve, for a start.

loki (in for a trade or a kick in the ass)