I have been a shareholder for 18 months having 600,000 shares maximum & now less than a 100,000.
My points are:
1. I have sold down because BSM are making additional share issues far too often.
2. Their Presentations are unbelievable-They have said that cash flow will be between 30-40 Million P.A.-big joke!!!
3. They also said that the Helyer tails would be processed-A big silence on this in the current update-I wonder why?
4. I believe they have lost their way & don"t know how to recover.To an ex accountant it would seem the simple way is to increase production-NOT DECREASE IT & to quickly get on to Fossey East.
5.They have certainly not kept shareholders adequately advised on the seriousness of their position.
On the basis of the above I Will exit my holding at an appropriate time.
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