Hey speculator101, I always read your posts with interest and...

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spartan300

191 Posts.

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10/08/18

00:33

Post #: 34846962
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Originally posted by speculator101 ↑

Hey Spartan, I understand where you are coming from (shocking 2 years or so, but... even a terrible management etc etc. they have been able to produce gold, imagine what the pro's could do?). But... a while back (pre 2005), SAR was a nobody,, yet it bought 2 projects that others did not want, now... they have a $1.6 billion market cap and producing 300k+ p.a. The most recent acquisition was Thudnerbox, for $23m in cash! Insane when I re-read the announcement really. Yet they have turned that into a mine, a real mine, with realistically, 10+ years of mine life. There was no bidding war that I know of, SAR just did their due diligence, set their goals and here we are.

I don't hold BLK and personally, feel there are much better options than BLK, but... BLK is cheap, even if more money needs to be put in. I mean, Thunderbox needed money, but... the numbers stack up. I guess I just think that if SAR can do it twice, they can sure as hell do it a 3rd time. As I say though, there are a few other options out there for the likes of SAR to buy into, or perhaps partner with, but NST is doing a good job of continuing to reduce the amount available, with TAMs Tanami plant gone, WGX plant gone, EAR 20% held (Bronzewig plant) etc....

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Hey speculator101,

I always read your posts with interest and have developed a good dose of respect for your views.

Most parallels that you draw with SAR are valid but I'm of the firm view that they don't apply to a basket case like BLK. If there was proper money to be made in Wiluna, shrewd and competent management teams would have pounced long ago.

Moreover, even if the likes of SAR feel they should have jumped on BLK's assets earlier, well now would be a perfect time to take it over cheaply. Yet I'm certain they wouldn't touch it with a ten foot pole. If I had to take a guess, BLK probably won't survive beyond the next 2 quarters (but for a miracle).

So when it comes to SAR being possibly interested in BLK please let's just agree to disagree.

SAR Price at posting: $1.97 Sentiment: Buy Disclosure: Held
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