I have attached below the post that I made on the 18-10-2010 when I commented on my sources of information regarding the Macintyre#2 drill.
I have delved a little deeper this week and believe that the drilling will not occur until at least February. AEC (the Canadians)are currently shaking the cans to collect money for the drill. The operators (not an ASX company hence don't have to disclose everything) also wish to change the drill equipment slightly to increase the chance of a successful drilling.
I don't know much about the Ryder-Scott report but expect it soon. This should help keep shareholders happy, especially when they realise that the drill is delayed. I assume that BKP management would release the report for maximum SP benefit (in this case, to hold the SP).
As I have said before, and as Badfish said so well, this is a great opportunity but might take a little longer to eventuate. I'm holding and happy to wait...a bagger is a bagger even if it is 3 months late. Patience will be rewarded here.
Apologies to all if I am wrong. So far my sources have been accurate (ie. no drill in October and no report)and just stating what I believe to be true. DYOR....
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"According to my sources (up to now they have been reliable), I understand that AEC (the Canadian outfit in charge of the drilling campaign) are now going to kick off drilling in early January. BKP's EP 127 Macintyre#2 should be drilled during February 2011.
This would take a little pressure off Ryder-Scott to get the report out.
While I am a little annoyed at the delay (interesting we have not had any announcement on the ASX although BKP should be aware of this), it should not a big drama as the drilling shall still occur and we should have the estimates out to help encourage interest in the New Year.
I have not sold (happy to wait an extra 2 months - a nuisance but given the probable profit to be made here, I can live with this) and hope to pick up a few cheapies if the punters get impatient.
I apologise if I am wrong but this is what I understand to be the case."
BKP Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
