BSR 0.00% 1.3¢ bassari resources limited

Thanks Kinzu. I have no idea whether BSR is manipulated or not...

  1. JID
    3,676 Posts.
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    Thanks Kinzu.

    I have no idea whether BSR is manipulated or not by the parties mentioned.

    I did notice, however, as part of doing some recent DD on BSR that the amount of capital raisings at progressively lower and lower SP's since they listed has destroyed many people's wealth over the past several years (2007 IPO + 17 raisings + the current one for a total of $48.33m + whatever comes in from the current one).

    Some of this is likely not BSR's fault - i.e. it takes money to discover and define a resource and the market as been terrible for gold explorers - thus cash has to be raised at progressively lower prices.

    Whether BSR's change of strategy to mine the hardrock, higher grade deposit is truly a turning point in the company's life cycle or whether this will end as a costly exercise like the alluvial mining attempt remains to be seen.

    I can, however, see headwinds over-and-above the stock standard execution risk here; that being the exponential ramp up in Ebola in West Africa and the (possibly related) SP being below the capital raising price meaning it is likely that there will be a significant shortfall. If there is a significant shortfall in the equity raising it then follows that debt providers will be reluctant to stump up either - especially with the track record and ongoing West African issues. The price action of gold couldn't come at a worse time either unfortunately.

    Good luck though.

    Cheers
    John
 
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Currently unlisted public company.

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