FFX 0.00% 20.0¢ firefinch limited

Lets talk about GOLD, page-153

  1. 11,007 Posts.
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    In October 2015, I had several million BGS shares at less than 1c each. I was trading to pay some bills. A T20s shareholder @Aptayl convinced me to keep it as a long term investment because of his belief that BGS has potential in gold and the return would be better than being a trader. Below is a copy of my chart taken in October 2015.
    When BGS bought the lithium tenements, many exited including Sprott, I did not. I had some shares in lithium companies, namely Neometal and Galaxy. When @blastfurnance bought into BGS, it confirmed my belief that we could have a good one here. BGS shares were consolidated 10:1 but instead of being in the Top5 I came down to the middle of the Top 20s.
    We had a change of management as we thought that we need new people to take us to the next level. In October 2017, the PFS was out and disappointment resulted in many holders exiting. I was not one of those. Quite a few returned after selling out. I increased my holding in the company and also have some members of my family and friends acquiring a few. The SP then was 32c.
    Recently there was another fright of an over supply of lithium and volatility in the global equity market.
    Instead of exiting, I again see this as an opportunity to add a few more. Instead of having BGS in my SMSF only, I have it in 3 of my portfolios.
    I have been asked, will I be selling my BGS shares? Yes I will, some time in the future, when BGS has proceed to what it intends to do, that is shipping lithium and gold from Mali or being taken over by some other company.
    In BGS, I am looking at a company with the potential of having 100MTs of lithium on a 4 Mts plant, when given sufficient time to develop. We are looking at between 40-60MTs indicated resources by  PFS2 and a revised of greatly reduced energy and transport cost of almost 50% according to management.
    I am also anticipating the issue of permits for gold mining to Rangold to commence the mining for gold for Nitola and Viper. This will initiated the down payment of US$1 M and a 4% royalty on sales. The further appointment of a new management team to take us to production of the lithium and a JV for our offtakes or JV in our production. We are right in the middle of the on going process and everything is likely to be put into place by the end of our financial year. Instead of the current 47c which I see as major support, I expect our SP will improve to reflect BGS progress. Good luck to all holders.
    This is only my experience, please DYOR or consult an adviser as to your own financial situation before you consider BGS as an investment or trade.

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Currently unlisted public company.

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