Considering that Blue has been a work in progress for quite some time (registered '94?) it is not surprising that at this stage that Sharif packed up and moved on. He worked pretty hard to shore up Blues current asset base.
They have a decent strategy for a patient investor. The recent doubling of the sp is a reflection of a massive undervaluation of Blue due to negative market sentiment. Considering their stage of development, imho I think there is still fair value for Blue at 40cents.
If they can hit a decent asset or 2 and strike a strategic partnership, then I think they will have it made.
SF
BUL Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
