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OZBlue noticed your sentiment has changed from Held to Not Held....

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Novac

6,450 Posts.

1239

07/10/16

13:22

Post #: 19697801
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Originally posted by ozblue ↑

Looking at the diagrams and the numbers attached, a lot of the drilling is on quite an angle, so the hits are not 'true width'. On a rough calculation true width is only ~80% of reported width, so 50m wide downhole samples are really only 40m in true width.

On page 12 of the last update 28/9/16 was the following....
"Data spacing and distribution is not sufficient for resource estimation."

So IMO there will be no JORC compliant resource estimate until further drilling has taken place. The 5 extra holes they are waiting for results from will probably not be enough to give a JORC resource.

The market for BGS shares is relatively thinly traded, so any large holder taking profits is going to have a major influence on the share price. IMO it looks like a major shareholder is bailing out. If they bought between 5-10c they are making a good profit. The real question is how many shares do they still have to sell?? Plus of course how many others have also decided to take the same action??

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OZBlue noticed your sentiment has changed from Held to Not Held. You one of those that have sold out also?

BGS Price at posting: 36.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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