Mike won't offer any confidence that this will go to planned. I emailed him and his response, reading through the lines, was pretty much 'be patient...we need you guys to put more money in to it'.
In some regards I agree. But you have to be confident that he and the the company will pull something off. And they still have yet to give the market any confidence in this area. A PFS will give us a bump, sure. But without REAL funding to get us into production, a PFS is worth nothing.
I'm confident that the results, the mine, everything we have, is great. I'm happy with that. But I'm not confident that management will take it to the next stage, production. That's still the biggest risk factor here. Old mate WILL NOT stump up $50m to fund production. Management continue to tell us he's an important investor and will continue to be, but $50m? Bullshit. If he has $50m to throw around for BMB, he has some serious screws loose.
The PFS needs to be backed with bank money. Further capital raising will only attract Ample Skill's money and continue to piss us off and devalue our investment (thanks, btw)
I'm confident enough to throw some more money at this short term to average down, with the PFS coming at end of this quarter. 3c to 5c is a good gain after all. But I'll be taking that profit and moving on until REAL sources of money, which result in near-zero dilution / not Ample Skill, come along.
BMB Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
