emerging countries plan

Previously, I was delighted and amazed by the way the board of BSM managed to turn the company around.

Previously BSM had a growth strategy focused on the development of a ‘pipeline’ of production, near-production and exploration assets in the rich Mount Read Volcanic mineral belt in northwest Tasmania.'

So what's happened to their Tassie Strategy now that Turkey is the place to be?

More importantly how does this new approach fit with their (ASX Ann 25/02/13) 'Jurisdiction/Sovereign Risk – overall Bass intends to take a “bankers” view on what countries to invest in and very mindful also of the personal safety of its people. The company considers that there are exciting opportunities in Australia as well as developed and emerging countries and will prudently assess these.'

I see two problems for investors with the new focus on Turkey (many BSM investors have suffered long re: the debt levels that almost sent BSM into oblivion).

First, BSM is a mining junior that will need years, many years to find, explore and develop a Turkish based mine, no matter how big the rewards are in the distant future.

So what are investors meant to do in the meantime?

Second, Turkey shares territorial borders with nations that are currently in or liable to become war zones. A recent article 'Syrian conflict threatens to spark ethnic upheaval in Turkey' (http://www.france24.com/en/20130513-haaretz-syria-conflict-turkey-ethnic-upheaval) claims 300,000 – 350,000 Syrian refugees now live in Turkey.

Another article claims war between Turkey and Syria is a real possibility (http://www.todayszaman.com/columnists-294639-the-risk-syria-poses-to-the-turkish-economy.html).

Personally, I'd like to see BSM focus on the 'exciting opportunities in Australia' before I risk investing in this new ' emerging countries' plan.

Always DYOR and remember buyer beware.