1) Price of gold is at record highs and going higher as more $ is printed.
2) Results from the lab for a potential IOCGU deposit due at BYR offices over the weekend. Let me repeat that, potential IOCGU and results out probably next week. BHP's Olympic Dam is an IOGCU, that's what we are talking about here in terms of size and scope.
3) Initial drilling depth doubled due to continued mineralisation. They have recorded mineralisation until end of holes up to 500m plus.
4) The chairman has come out saying he is confident of good results and invested $100K of his own money to buy on market at $0.345! Why are we at $0.30 and at the bottom of the trading range over the last 3months?
5) Market cap of $81m, JORC of 1m oz of gold for another one of their projects, and $7m in cash so it's not overvalued in that sense.
6) Only reason to sell this now is if you think the results will be bad. Only reason to make you think they will be bad is the delay in the results. This must be the only reason the price keeps dropping. However, doubling drill depth, weather delays, shipping samples from Guinea to Perth to test for multi-elements, and wanting to release all the results at the same time all help to explain the delay.
7) At the end of the day, the directors have the most intimate knowledge of what the results are likely to be. If they invest $100K of their own money, that's good enough for me.
8) The PRU involvement is a real biggie. 19% holding in BYR and the likely eventual TO on exercise of $0.05 options is just a bonus. BYR just recently appointed a PRU director and a PRU geologist.
9) Balatindi is just one area in one of BYRs many projects, so it's by no means an one trick pony.
10) Directors have said Balatindi is highly likely to be a company making deposit.
11) PRU and the African miners have been rising the past week and trading quite well, so political turmoil is not a factor.
Sorry for the rant guys, but I just had to justify to myself why I'm still holding this as honestly it's traded like a dog in the past couple months. I'm going to trust my research and hold this until results. The story is just so unique and this stock could be potentially life changing. We've waited close to 6months for this, another week or so will not hurt. I can see this at least doubling on some decent results as it's been sold down savagely due to the delays.
ANL Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
(20min delay)