I agree...I don't think BMO management went out to intentionally deceive...I just think that as the lack of positive news kept building (when they were drilling Area 2), some of the Directors (like Wall) really struggled to deal with the reality.
They must have kept stallng against the inevitable because they couldn't accept they were wrong, and that they needed to challenge their initial judgements about the project.
Bruce Robertson you are so right with what you say! No doubt you have had plenty of experience in this sector. I recall your comments consistently over the last few years but sadly for we BMO shareholders....we were led to believe this one was progressing stably w/o being spectacular.
The BMO downrampers were unable to categorically put their finger on any concrete negative news other than project delays so it made it difficult for many to bite the bullet - including me.
To answer another question - no, I do not believe the Sons of Gwalia ruling will help us. I suggest all BMO holders do what I have done - write it off emotionally, financially & psychologicallay...get it our of your system. If you keep records of your trading/nvesting etc...then purge your records and take the "hit".
It is dead. We need to move on.
If it ever ets resurrected...that is a bonus. For now...we must move on financially.
B2 - to answer your question re:CBH....my only observation is that I honestly think that stock would be higher - i.e; trade on valuatons mcuh closer to Perilya & Kagara (relatively speaking) than it does if not for the Jim Wall factor. Clearly this man has a particular way of running his companies and it may be his influence in the boardroom is more influential than it should be.
To respond to yet another comment - yep, I take a little comfort from Fat Prophets (Jan-07 update), Criterion (Nov-06 recco) & Hartleys (early-06 report) reviews. Those guys got suckered in like we did...so we had no chance, really.
Best wishes to all, and many thanks for the informed & rational opinions expressed.
Coop
BMO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
