Hard to believe, isn't it Busting? I know we should never get attached to a stock, but it's sad to see the old Bendigo Gold company falling so far. I'm glad I sold most of my holding in the 20s, and the last at 13c, but at 8cents I'm tempted to buy a few.
The remaining cash should enable them to fire up Henty and do some detailed exploration on the adjoining Tullah tenement (which is believed to contain some reasonable deposits of zinc, lead, copper, silver and gold), and who knows, the Goldstone investment might start to pay off in a year or two.
Along with many other holders, I was keen for the old BDG to put the cash to work by acquiring a producing or near-term asset before the cash started to dwindle, but the BCD bungle seemed to the only deal that they looked at in detail.
I hope for the sake of the remaining holders that Henty/Tullah comes good, and rewards those who have hung on. If it does, a buy-in price of 8cents could ultimately be a bit of a winner.
UML Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
