Bass Metals went thru a Company Reorganisation in 2013 culminating in the Board being sacked for "incompetence" and the current MD Rick Anton being appointed.
Below is a Weekly 3 Three Year Chart. Note the 1/1.3 Area in 2013 as "reconstruction" platform. This price range is "historical" so it is not too surprising that it was again "regained" for a base to 'get into Graphite" by investing in a Producing Mine. BSM is enabling Stratminco to be Dual Listed. Enabling it to access the Australian Graphite Sector Investors.
Anyhow the Chart
There is IMO a Cup'n'Handle Pattern with a .02 base and a 1.3 cent lip so a 2.4 cent target.
Perhaps the next CR will be at 2 cent+ in November?
There also appears in the last Qtrly Activities that some Mine Assets are for sale. Perhaps these will contribute to the Stratminco Investment? @JFI above has given some outline of the "quality" of BSM's existing Operation and considering the current MD was appointed to Clean Up Director's Ethics , one can IMO be reassured this is a Penny that wants to Mine Minerals and Not just Shareholders like some.
Yes there's 400mil+ shares on Issue now after this placement today and probably 6/700mil by completing this transaction. However next year if it all works out hunky dory a Consolidation could be done to give BSM a more "respectable" structure ie a 20/30 cent sp [By CONSOLIDATION not with 700mil shares being on Issue. I am NOT one of those Gunner be a 20 Bagger clowns]
Anyone One can't say the "insiders" pumped it up from .02 cents to Sell the News.Just look at the trading today.
Anyway, could be a Trade to 2.4 cents this month just on the graphite wave.
Happy Holding.
BSM Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
