I agree that BLK is relatively cheap. $100M Market cap. The...

I agree that BLK is relatively cheap.

$100M Market cap. The issue that keeps majors away I feel is:

only 560,000 oz reserve.

Whilst 7M oz as resource, bigger companies will not take the risk yet.

I feel if reserve was 1M - 1.5M oz then it would be a different story.

There is debt of $40M

According to presentation, stage 1 development is another $25M + stage 2 $80M.

Production will be 20,000 oz this qtr around $1250/oz.

Grade still needs to be proven, and after one or good quarters of production these risks should be reduced.

However, who knows someone could try and buy it on the cheap, for all cash @ 40 cents per share.

I do not think that would happen, because to pay $135M - $150M in BLK current state is high risk.

Saying that, however it could be worth $300M within 18 months.