I'm sure someone can correct me here, but I thought that BGL had posted a couple of consecutive quarters in which they produced >40,000 oz's?
If this is true, it seems to establish that the gold is there, and that they can extract it.
But then, out of the blue we get this quarter where they massively miss, and underproduce ... ...
That was weird, after seeming to be pretty much on track ...
The fact they have produced successfully gives me faith that the mine is viable, and convinces me to hold.
The fact they missed hugely out of the blue makes me suspicious ...
The SP is a little firmer lately, and there is the story of possible buyers ... but the SP is not signalling that ppl believe that there will be any offer any time soon really.
There are some pretty suspicious things that happen in this sector that's for sure.
One thing is certain ... A massive miss reduces the value of the company in the market ... and makes a takeover less expensive ...
I wonder sort of deals might have been done.
Call me cynical ... ?
BGL Price at posting:
95.0¢ Sentiment: Hold Disclosure: Held
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