Here is my hope on the reverse split. BCN is super anchored. People's minds are anchored to the idea that it is a high .02s stock. That even if gold went to $3500 an ounce or something absurd like that, BCN would still stay in high .02s, oh, that happened. Or even if they drilled a bunch of high-grade, it would still be high .02s, oh, that happened. But if it hit a bunch of high-grade gold holes right at the surface, that surely would break the high .02s mind anchor—no, that happened too.
So with a reverse split, guessing the company, if they want the stock to go up (there is some question about that here), a reverse would break the anchor. If so they need a catalyst too. That could be putting out good Q2 production #s and maybe their cash balance at the same time as the reverse. Those 2 numbers should be way better. Then talk up their wonderful Q2 and big high-grade discovery and Timor.
In terms of a producing gold miner that has ignored the huge gold rally, BCN is #1 that I know of. Anyone know of another producer that has ignored the gold price as much as BCN? Please do post, as I am curious about such stocks. Cheers
BCN Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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