bsm falling price, page-3

MR said....."but then all of the market in the past 7 weeks has been very disappointing reverting to levels of 12 months ago, so clearly BSM has been affected by that".

With all due respect, that is nonsense......look at other silver stocks like ARD, AYN and CCU and tell me they are back to the level of 12 months ago.

I exited my whole position last week and have taken a small loss thus far on BSM.....with falling metal prices, sell in May habits, winter doldrums to come, slower than expected ramp up, placement due to desperate cash position, and $4M already drawn down on the extra $7M loan (and don't forget each dollar loaned has an option attached if you read the fine print) the picture just isn't anywhere near as rosy as a few months ago when MR was spouting $80M Ebit and i thought we had no debt. MR should have quantified his exuberant manner with the fact that that rate of earnings wouldn't be kicking in for quite some time, but his presentations earlier this year gave the impression that we were almost as good as there already....i think that was a bit misleading in hindsight.
We still aren't even cashflow +ve according to the reply to Wendeldsouza.....and it feels to me like the Gold tailings issue is not as much as a priority to BSM as I had hoped.
Also i wonder what is going to happen to the Dow next month when QE2 finishes and the stock market has to stand on its own 2 feet as it were, sans the "funny money" pump.
All in all I'm pretty pessimistic about the market generally at the moment, and the risk of BSM falling further to perhaps mid-20's is a real possibility now....so i am sitting on sidelines and will re-assess when some of the above factors have been addressed.
I am still confident in BSM long term, but can't afford to sit and watch another 30% knocked off my portfolio......the volatility in these types of stocks almost turns us all into traders whether we like it or not.
If they can get into cashflow +ve mode, and up to "nameplate" production rates then i can see the share price recovering in a few months, unless they find an elephant by surprise in the meantime.