BSG - Bolnisi Gold

[zed327]

Probaly a bit weaker today due to the small fall in the silver price. Will be my longer term hold as we watch the debt laiden Yank dollar come crashing down.

 

[Sean K]

Hit $2.91 and came off again. Holding above that past resistance level turning into support. Looking ok so far. Early days.

 

[Sean K]

Good day yesterday for BSG.

Tested $2.80 and bounced back finishing at $2.90, looking at all time highs now. I love it when a plan comes together.

Gold off a bit overnight, but holding above support at $620, for the minute. That might keep BSG above $2.85 hopefully.

Anyone else on this, or am I talking to myself?

 

[new girl]

Good day yesterday for BSG. Anyone else on this, or am I talking to myself?

Kennas

Can't help you there, but my broker is very keen on it.

What I would appreciate is your advice on this. I sold 20% of my CTO shares which I mostly bought @15c and got BSG instead, out of the two which do you think is a better investment in the next 3-6 months?

Many thanks

 

[Sean K]

Kennas

Can't help you there, but my broker is very keen on it.

What I would appreciate is your advice on this. I sold 20% of my CTO shares which I mostly bought @15c and got BSG instead, out of the two which do you think is a better investment in the next 3-6 months?

Many thanks

Interesting question.

BSGs main game is Palmarejo which has returned outstanding gold and silver results. A resource of 3.1 million ounces gold equivalent (972,000 ounces of gold and 136.6 million ounces of silver) has been delineated. The Company is planning a 2 million tonne per annum development with production scheduled for early 2007. The other projects are pretty immature I think but look to have potential.

So, it's about to start production, but doesn't have much there by world scales, but it's a pretty good resourse.

(Compare the resource and market cap of this with Kings Minerals KMN who have 11m oz au equiv also in Mexico - KMN is probably better!)

CTO of course are sitting on a total of 10 m oz au. Their exploration and studies to date have led to the conclusion that the overall Charters Towers goldfield, has the exploration potential to contain up to 50 million ounces of gold. They seem to think they can do this!

The problem I see with CTO is that the gold is spread all over the place. They're going to have to build quite a few mines to get it all out. Having said that logistics will be centralised so that will be ok I suppose. The first mine off the rank is Warrior and it looks to be all on schedule.

Summary, both mave big potential, might just be which management come through with the goods. Don't know enough about them in that regard. So, on the numbers there may be more potential in CTO?

I own BSG now and am looking for a chance to buy KMN. It's run hard recently. CTO has broken up, and I will be picking some of that up too. Maybe right now.

 

[zed327]

Looking strong today considering gold and silver was dissapointing last night.Maybe some technical buying on yesterdays finishing price.I know it's a no no but i've got 75% of my portfolio in bsg. Got that gut feeling.

 

[new girl]

Interesting question.

BSGs main game is Palmarejo, it's about to start production, but doesn't have much there by world scales, but it's a pretty good resourse.

Summary, both mave big potential, might just be which management come through with the goods. Don't know enough about them in that regard. So, on the numbers there may be more potential in CTO?

Interesting answer, thanks

My understanding is that BSG has a good chance of a take over, which should be very good for its price. Management wise, my broker prefers BSG's. However, the new non-exec. Director of CTO, Terence Willstead is supposed to be very good.

I'm tempted to attend the AGM for CTO later this month in Sydney, if there will be anything worth mentioning I'll let you know.

 

[Sean K]

Interesting answer, thanks

My understanding is that BSG has a good chance of a take over, which should be very good for its price. Management wise, my broker prefers BSG's. However, the new non-exec. Director of CTO, Terence Willstead is supposed to be very good.

I'm tempted to attend the AGM for CTO later this month in Sydney, if there will be anything worth mentioning I'll let you know.

Anything with more than 2m oz and at an advanced stage of development is a TO candidate am. I've heard the BSG rumours too.

The Chairman of PSV said in his adress today that he thinks that it is 'inevitable' for NCM to be swallowed up leaving PSV as the largest producer left in Australia...Odd for a CEO of a company to be saying that about another, but it's a sign that all are expecting some major corporate plays in the gold sector.

 

[Sean K]

Almost hits a record ($2.97) and then falls back to $2.90. Traders seeing the potential resistance and dumping. Damn it!!! Might need gold to go to $640 or an ann to break through there.

 

[Out Too Soon]

One of my last resources, bought @ $2.87 in April & still holding. Have reread the annual rep a no. of times & love the prospects of this co. Haven't put a stop loss on this & dont intend to, holding for year at least, maybe 2008. Think this is much better prospect than dodgy overhyped uranium, or over heated (atm) zinc.

 

[new girl]

Have reread the annual rep a no. of times & love the prospects of this co.

Out too soon,

So much passion for annual reports I'm interested to hear from you what you find boring? I hate them personally.

I'll send you the latest from the AGM coming up later this month.

 

[Sean K]

Cracked $3.00, on to all time highs. Blue sky ahead. Gold down slightly. Good karma for BSG.

Expect some profit taking this avo perhaps and some consolidation. Really needs to hold above $3.00 for a couple of days for this significant breakthrough to be start of new phase upward.

 

[simoncar]

LOts of blue sky ahead!!! BSG has been in a macro triangle pattern. Started around mid FEB 2006 and has just broken through today. By triangle pattern prediction it should at least reach $4.60.

 

[new girl]

LOts of blue sky ahead!!! BSG has been in a macro triangle pattern. Started around mid FEB 2006 and has just broken through today. By triangle pattern prediction it should at least reach $4.60.

Hi Simoncar,

Is there a time frame for your prediction?

Thanks

 

[Sean K]

Hi Simoncar,

Is there a time frame for your prediction?

Thanks

IMO you can't predict price target time frames using simple charting such as pennants, triangles etc, but the price targets can be roughly guessed. Would like to know how you got that price Simon?

Only Wavetheories and Gann can do timeframes.

 

[zed327]

The old gut feeling is working well, YIPPEEEEEE!!!!!!!!!!!

 

[Sean K]

More great intercepts out of Palmarejo. This has driven it this am I reckon.

Looking good in Mexico. Hopefully there QLD projects can provide some upside good news to keep the sp running.

 

[Kauri]

Carefull though, the news has been in the market for three days already..

 

[Sean K]

Carefull though, the news has been in the market for three days already..

No, this was released today. New results on a different fault.

 

[Kauri]

No, this was released today. New results on a different fault.

The price and volume say different. Its not unusual in small mining co's, a lot of people from drillers, geo's, lab rats, etc know what is coming.