option options, page-8

Thanks 1851 but I'm begining to form the opinion that my best option with this bad buy is to average down on the BCNOA options. I'm expecting to be able to pick up BCNOA at 1.1c soon. There will be a massive BCN dump begining tomorrow (Thursday 24th September) when BCN goes ex-entitlement. The 'all or nothing' proviso in the Rights Offer Document seems to me as being uneccessarily tough on shareholders - a poor management decision not thought through I read elesewhere.

Another option is to do nothing - not put any more cash into a share that seems to be prone to speculative pump and dump (there seem to be an army of rampers here and so far BCN don't really have much gold, just the potential promise of it) and not put any more cash into a meh company that delivers shareholders such a tough decision - 'double your holding or suffer 50% dilution' - no middle ground. Selling down the forced outcome.

After last Thursday, BCN certainly have a huge wad of new shareholders, many of who must be most befuddled by now. BCN only need a proportion of these miriad new holders to stump up more cash at 2.2c for BCN to be able to ride out the rest of the downturn. I can feel affinity with the comment that this may be one of those mining companies whose talents lie in mining shareholders pockets, not in ever actually getting to mine minerals.

BCNOA options at 1.1c anyone?