Tumble, I don't have ''relentless, unquestioning optimism''. I...

Tumble,

I don't have ''relentless, unquestioning optimism''. I form my opinions and investment thesis based on careful research and understanding of what I perceive to be prevailing macro economic conditions.

Once I have derived my thesis then I stick by it 100%, if I am shown evidence which somehow invalidates my thesis then I'll take a loss if needs be and adjust my strategy.

Everything I've seen in the Gold market and the case of BDR over the last 6 months has served to strengthen my resolve and belief in my initial thesis.

The fundamentals for Gold are as strong as they have been in years. The Balance Sheet fundamentals for BDR are not ''crash hot'' at this very moment, however, I think that the new team are showing strong signs of an early stage turnaround and the longer term fundamentals will serve BDR and its shareholders very well.

I never said this was written in the stars, I never said there weren't any risks, I'm not ignoring risks.

I bet GP a while back that BDR would one day be a $2 stock (I'd say within 2 to 4 years), when that day happens, I'll take great pleasure in reminding you of this post.

Cheers
Ivan