Regret not selling all. Also did not sell all of what I sold at the top.
I probably will not buy back, and I hope to unload the rest of my shares at a higher price.
If Brigus made its' exploration program interesting, showed the targets Titan 24 reveals and told us more I might reconsider. This probably guarantees that they won't do this.<g>
But for now it is a troubled producer, hedged for 12% of its' production, that will either drop sharply on a decision to not go ahead with the Box Deposit or rise and fall back upon a decision to move ahead as the reality and delays of bringing the deposit to production eat away at investors expectations.
I make negative post even when selling. Figure it make it harder for some posters to sell and gets other posters to buy. No impact on non holders as they only come to the boards after they have bought and are seeking confirmation that others like the stock they just bought.<g>
Hey, and I still can be very wrong about BRD. It could go up like a rocket and Yahoo will run out of ink as all the bulls here tell me they knew this was a great stock.
Can only say again, that the bullishness of this board was a great help in making a decision to sell and helped me sell more than I thought I would.
Dawe use the phrase 88% unhedged. Makes 12% hedged correct.
Brigus now has an obligation to Sandstorm instead of having to deliver into the hedge book. The delivery price to Standstorm is way below the prior hedged price. Even if reduced by payment of about 50% more than Brigus received from StandStorm, Brigus will end up delivering. over the life of the mine more than under the hedge obligation.
What did Brigus gain? The ability to sell more of current production into the market at the spot price. And it eliminated non cash losses in the income statement due to required accounting for the hedge.
Not saying they should not have made the deal. Just that it had its own cost and risk and certainly was not a panacea.
PC, Look at the website and the total reserves/M&I/Indicated. Those numbers do not include any inferred Ozs from the recent drilling announcments which showed very good results and nothing from the DR.
My $10 could be low!!!!
Short term the lows may have been hit this past week and the technical guy I follow, not the idiot stockit candles and sticks, says the next leap up for gold will see it at around $1600 later this year based on his charts and history measurement.Its the SKI system.