I think you will find BDI has in fact 1.44 Billion shares and OBS 219.54 million; however, with the right kind of drilling results we could still see a decent price appreciation.
Last Friday I hoped to finish my buying order for BDI I did get some @ 0.1 cent to give me around 96% of my order. I took my eye of the ball for a minute and then rest as they say is history.
I know you read the Gold thread so won’t repeat; however, the list of company profit mark downs are very real and the fact that the US markets continue to climb beggars belief. If the FED continues to cut back on purchases of course I really mean printing money out of fresh air then I can’t see it taking long before the USA has to get a down grade. Withstanding that the rating agencies are mainly US based even they have to maintain some kind of credibility outside of the USA. Once we see the US dollar under pressure we should see the Gold price getting back to its twelve year trend.
Mario Draghi and the ECB gang meet in Portugal at the end of this week the pundits are talking about lowering interest rates. Bad enough they ask you to put money in the bank and take a risk on getting it back (think Cyprus) but now they want to charge you interest for doing so. At this point I would give European QE a 50-50 chance of becoming a reality.
Therefore between my wider world outlook the reasonable chance of some half decent drilling results, my penchant for taking a punt and at the risk of a speeding ticket I decided to nudge my average up a smidgen.
Cheers and very best regards: Andy
BDI Price at posting:
0.3¢ Sentiment: LT Buy Disclosure: Held
