It makes for a good headline but there is absolutely no correlation between Midas and BRB!
For a start, Midas has a market cap 10x that of BRB - just not comparing apples with apples, their deposits and challenges and obviously their resources are vastly different.
Midas has 16 directors! (imagine your outrage at this fact!)
BRB has 5 directors! (including one from one of the US funds, that should make you happy, is he allowed to draw a salary?)
Have a read of the 2020 annual report…my read is that BRB directors and kmp let 4,900,000 (ex at 46cps) options lapse when they probably could have engaged with one of the interested parties and sold to make a quick buck – that is not something you see very often. They decided to get moving with Bombora and here we are with 6 rigs on the ground and $20mm in the kitty to prove up this monster deposit.
My opinion, BRB is real and it will be a monster, the US funds would have no issues with BRB, in fact I think BRB are a model of how a gold exploration company should be run. I find their presentations some of the best across the industry, they are clear, everything is cross referenced and organised -- show me a better example from a similar sized company?
I just perused the consolidated financial statements for Midas and BRB’s annual report and noted the following…REALLY puts your comment to shame.
BRB
- BRB 53% REDUCTION in options issued to management from 2019 to 2020
- BRB 34% REDUCTION in aggregate compensation to directors and KMP from 2019 to 2020
- Only an 11% increase in share capital
Midas
- MIDAS 10% INCREASE in options issued to management from 2018 to 2019
- MIDAS 16% INCREASE in aggregate compensation to directors and KMP from 2018 to 2019
- 16% increase in share capital
Why do people who obviously have it in for BRB continually post rubbish with no substance to back up their claims? Professional stock bashers? Non holders or just don’t understand the deposit and think you can produce gold without spending a cent.
