Dan, You are making the claim, in effect, that BDR Mgt are being...

Dan,

You are making the claim, in effect, that BDR Mgt are being dishonest. There are plenty of listed companies where shareholders are lied to but I sense this is not the case here.

I have not read all the "history" of BDR but your example appears to relate to the pre-production phase of the company. The free cash flow produced by the company has been nothing short of outstanding. They will be debt free in 2014 and have forecasted 200k ounces of production in 2015 at a "low cost" . This may be a big charade but at this stage I tend to believe that any bad news would already have been disclosed. I know that continuous reporting requirements are not always put into practice in the real world.