BSG - Bolnisi Gold

[Sean K]

i think a few stops got taken out this am, in bargain teritory now with silver reversing nicely last night from 13.42 to 13.89. bought back in yesterday 3.02 should have waited oh well still happy to be in as this has huge potetial with drilling finding richer and deeper grades and is being assessed by larger preditors.

Yeah maybe. Has recovered ok from the daily low, but perhaps it could even get back there? I'd be surprised if this broke out of the general up trend with the project coming on line next year and t/o rumours. Still just a pullback in general uptrend atm. Was overbought, as stated, when it was up around $3.50. This was expected.

 

[Sean K]

I'd expect some support for BSG at these levels. Could go a bit lower to get back on the trend line up. Interesting the daily and weekly stochastics differ in their opinion. Daily saying oversold, weekly saying there's some to go, so be prepared. Disappointing it didn't kep going verticle after the break through $3.00 but this just been a healthy break in an long term uptrend imo. I'm hoping that the $3.00 ish level is going to form into long term support now. If it breaks up again from here than that is very good. I think about $2.50 and I'd have to consider if the uptrend had been broken.

 

[Sean K]

I'd expect some support for BSG at these levels. Could go a bit lower to get back on the trend line up. Interesting the daily and weekly stochastics differ in their opinion. Daily saying oversold, weekly saying there's some to go, so be prepared. Disappointing it didn't kep going verticle after the break through $3.00 but this just been a healthy break in an long term uptrend imo. I'm hoping that the $3.00 ish level is going to form into long term support now. If it breaks up again from here than that is very good. I think about $2.50 and I'd have to consider if the uptrend had been broken.

Support was found at $3.00 and it has been today on a down day for POG. So, hopefully POG recovers a little and $3.00 remains in tact for further gains. Hitting the lower band of the bb and bounced as it should also. I think the slow stochastics on this chart is incorrect. It has been sold off recently but it's not represented here.

 

[Sean K]

Failed at $3.00. Tried it's hardest but just couldn't hold on. Now maybe heading to around the next support line at $2.75 ish which will also be about the long term trend line. Hope this helps.......Still holding.

 

[scsl]

Bought today at $3.08. I think the POG could continue to appreciate in the near term and pull up gold stocks with it.

What do you think of BSG atm kennas? Having bounced off the long term trend line (you mentioned in your last post) and now holding above $3.00, what do we need (apart from POG rising) to see BSG pass its end of November high?

POG now trading at $640.50...

 

[Sean K]

Bought today at $3.08. I think the POG could continue to appreciate in the near term and pull up gold stocks with it.

What do you think of BSG atm kennas? Having bounced off the long term trend line (you mentioned in your last post) and now holding above $3.00, what do we need (apart from POG rising) to see BSG pass its end of November high?

POG now trading at $640.50...

I reckon upside will be from:

1.The final feasability study which was due in Dec 06, but I haven't seen it yet? This was supposed to move the resource to proven and probably ore reserves.
2. POG which I think will increase although be volatile.
3. Takeover - the company comes into production within 12 months and the TSX listed Palmejero Silver and Gold is at a discount relative to BSG and US listed peers.
4. Possible increase in the 3.6+m oz au equiv due to ongoing drilling in the project area.

 

[Sean K]

I reckon upside will be from:

1.The final feasability study which was due in Dec 06, but I haven't seen it yet? This was supposed to move the resource to proven and probably ore reserves.
2. POG which I think will increase although be volatile.
3. Takeover - the company comes into production within 12 months and the TSX listed Palmejero Silver and Gold is at a discount relative to BSG and US listed peers.
4. Possible increase in the 3.6+m oz au equiv due to ongoing drilling in the project area.

I forgot, the other imminent upside potential for BSG is the release of a resourse estimate for the La Patria deposit 6.5 km SE of Palarejo. This is due NOW.

Also, exploration drilling continues at El Realito with some good grades so far. More to follow.

 

[Sean K]

Well POG has smacked all the goldies this am, of course. Once it had held through $640 I thought that would be the resumption of the uptrend. I suppose in the end it only held above that level for a day or a few hours, which means it didn't 'hold' above.

BSG has broken through some support at $2.80ish and also recent up trend line.

Fundamentally nothing has changed in this stock though, I just wonder if gold is going to hold above $600? If not there will be some more downside I suppose....

 

[panem]

I have to admit:

Good grades.

But 450 Mio €?

Deep drilling shows further high grades at G.

Interesting.

 

[Absolutely]

Anyone been able to read the announcement yet - returned to trading but the announcement wont open for me either on ASX or Comsec.

 

[Moneybags]

Absolutely try again thru ASX announcement page.........I got thru with no problems

MB

 

[Sean K]

But 450 Mio €?

What's this mean panem?

 

[Absolutely]

For some reason this announcement is killing my system every time I try and open it.

 

[Absolutely]

BSG going south despite the gold price seemingly holding up at the moment.

Recent announcements weren't disappointing - at least I didn't think so, but then, what do I know?

Where is it going to I wonder and why ?

 

[Out Too Soon]

No reason that I'm aware of for the sp drop, the last time the sp made a fool of Kennas chart was last june & then it rebounded big time. They should be mining this year (from memory I think that's right), so I think right now is a great buying opportunity.

Of cause I could be wrong. :

 

[Out Too Soon]

It would seem that mining doesn't start 'til early 2008 rather than mid 2007 as prev mentioned in last yrs ann report.
Hardly a big enough shock or disapointment to explain the falling sp. I think the further it falls the better value it will be & will be getting more when it bottoms. Just have to be a little more patient, a 6 month set back is hardly unusual in this industry.

 

[Halba]

Does it really matter mid 2007 or early 2008? The gold price/silver price seems pretty stable and attractive to new producers like BSG. BSG have good properties in prime areas and are steadily growing their resource base, now up to 3.5mOZ Eq of gold. Soon 4m OZ might be attacked.

 

[Out Too Soon]

AAARRRGGGHHH!!, so much for waiting for it to bottom to buy some more, just bounced up 14c.
Oh well, makes what I'm already holding look a bit healthier.
I'd love to get Kennas perspective on this but he's off traipsing around Mexico!, Lucky bugg@r.

 

[Sean K]

Interesting Macquarie taking 6% a few days ago. Gotta be positive.

Starts mining mid year.
Total 3.6m oz au equiv.
Resource to be upgraded with additional drilling completed.
Projects open along strike and depth.
Nearby exp targets yet to be drilled.
Total resource could stretch 5m oz au equiv IMO.
No debt.
No hedging.

Just breaking $3.00 resistance as part of ascending triangle.
MACD momentum confirming up.
Gold going higher....

(holding a few)

 

[Rafa]

this stock has caught my eye recently...
especially with the annoucements re macquarie...

i have decided to put my money in this one, as opposed to LHG...
this is my only gold holding at the moment (unless OXR counts)