Morning mate,
My point to the post is that I don't believe that they even saved a good portion of the capital in the initial sell off. I struggle to believe that they were unaware of the Lithium acquisition (my theory, as the were the largest by far share holder) and as Lithium was in the start of its accelerated awareness and increase (everyone wanted to do Lithium) Plus the sell off continued after BGS came out of a trading halt post Li announcement, so I would of thought they would of sold into the higher share price.
My "best guess" they had 19 million shares @17.2c average cost basis = $3,268,000, the sell off the recouped in the 6.8c - 7.2c range (as from memory the SP was stagnate) =$1,368,000 (using the top of the trading range) So prior to them actually exercising any of their 25c options they had lost a total of $1,900,000, a rather large portion I would think, close to 3/5 of their investment.
Although they have since recouped some by the exercising and selling of options, but it also appears they still are holding a good portion of their options (6.5 million approx) From memory, they still have 4.5 million available with an expiry date of 27/4/17.
SO I still beg to differ if losing 3/5 of your clients capital can be construed as looking after it.
In saying all that, I also think it is good that they are still holding, and I would also assume that when/if Randgold take up the option with BGS, then we could see another 3B announcement with them exercising more, hopefully that announcement comes out in time for them to exercise.
I also couldn't agree any more with you in the current state of BGS in its share price and market perception, all not being aided by the recent change of board, the MD continually making no comment/statement BUT there will be at least an announcement coming with the Randgold deal. Like I said earlier, it has only been
7 1/2 trading days since the board spill, it will need some time.
I would like a $1 for every time I have said patience is needed over the last 4 years..........
Still a lot of upside to your investment here though, short term - Option agreement taken up with Randgold, further upgrade to our Lithium resource, PFS
I see a light in the tunnel.......
cheers
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