a good amount of dribble and baby poo been said but we are getting back on track.
rate your posts ryobal, they are what HC is designed for and you provide both sides of the argument. keep it up.
thanks for the graph cloesd, it does look that in the ST it will jump based on TA.
something I would like to comment on though.
to delineate a JORC over 600x15x150 (Ntoila Central) from my experience will require a significant chunk of cash (for a junior). Someone posted a comment about BGS abandoning Ntoila central for the December drilling campaign due to it not being worthwhile, my response is, if your strategy is to home in on the lowest risk, highest reward ore body, it would be prudent to leave Ntoila out for now and focus in on the other underexplored bodies (Kondji, N. South and Boa) as we already have a rough idea what is there. I prefer the way its being conducted and would like to see Ntoila Central left alone this december, lets see what else we have as we might have something more promising, something worse, or something just as good. Once all prospects are scoped out and at least at an absolute minimum had secondary pass/RC drilling, we will have a better idea as to where to sink more funds to delineate a JORC.
Think about it logically, just imagine if we go balls and all into Ntoila Central, we spend heaps of money and define a JORC. Then we go to the table with Randgold, and lets just say its even a goer... Then we do more exploration on our tenements to find that we have something better. I think Randgold and especially BGS as we don't have capital support, would want to process the best ore body to provide the lowest risk, once all upfront capital has been retuned (payback of initial investment), it becomes free carried. Just makes sense..
On a side note, was thinking about this in bed. IMO BGS has a high residual value on the Morilla tenements. Something to consider, lets play ball to the naysayers. Say Randgold don’t like any of our ore bodies to enter into a toll treating arrangement for whatever reason… Has any one thought that BGS also has the opportunity to directly sell the tenements once proved up and give Rangold 100% ownership. If metallurgy comes back positive, Randgold cant dispute that if they had 100% of our ore, that it would make more money than there 0.44gpt tailings in reserves. How do you go about valuing such things is difficult this early on, but id like to think 10’s of millions it could go for… (ball park estimate). Think what that would do to the SP, it would also allow us to aggressively work on Liberia etc… Remember, Randgold have already showed us part of their hand by showing interest in entering an MOU, I think they would want 100% if the price was right.
Metallurgy results are KEY here for multiple reasons.
Just trying to think outside the square. Regardless, im still thinking N.Central is fine and will look even better if we can get higher grade areas from other deposits and bring them all online first.
Pay day coming up mid month, you know where its going.
BGS Price at posting:
1.2¢ Sentiment: LT Buy Disclosure: Held
