I completely agree with what you are saying. At this point of...

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beeraka

92 Posts.

12/10/17

10:58

Post #: 27848472
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Originally posted by RandomAce ↑

very optimistic for the next quarterly don't you think?

Last two quarters are showing ASIC of 2000$ and 1750$

I really can't see it dropping to 1058$..... plus those figures are theoretical LOM figures which BLK says they can achieve in the EXPANSION PFS... which will require another 114m$ in capex. Time and time again.... BLK shareholders being pulled in by fancy numbers thrown in the presentations which don't seem to correlate with reality.

Does BLK even have enough money? The figures in the last quarterly are ASIC which means the total cost is actually higher than 1750$. The operation is still negative cashflow. More equity will need to be issue through the lind facility.....

The whole facility feels like one of those death spiral financing taken up by distressed miners. There is no incentive for Lind (Only the options but they are free for them) to let BLK have a high share price as the lower the SP gets.... the more in % they own as it is calculated based on 90% of the last 5 days average share price. As they can get it at a discount each time.. they could potentially dump stock every conversion to skim profit.

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I completely agree with what you are saying. At this point of time no on believes the management. Time and again they failed. Things didn't go well.

As per the management, they repeatedly mentioned that the grades are going to be higher and ores are going to be significantly higher compared to the previous quarter.

There is no reason they should fail this quarter,

If they did, i would be the first one to report to ASIC for providing wrong guidance.

I personally feel that the stars are aligned for this stock to overcome those previous failures and post good growth from here on.

Stock is undervalued quite high. Good news is going to come any time and that will reflect in share price.

BLK Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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