“Has someone seen or heard of the results in the new revised DFS - looks like it.
Or has someone heard of a takeover bid, or discussions taking place - perhaps this as well.
Either way, a fund or someone else with deep pockets has decided to dive in and buy.” ============================
Great volumes underlying a rising share price last couple of weeks. Liquidity has improved out of sight.
A couple of possibilities, as you say. Takeover is always on the table and the revised DFS will likely read very well as per prior studies conducted here.
I’d throw in a third possibility that traders (one or several with deep pockets) have taken control of the share price, and are orchestrating yet another Pump and Dump leading into the release of the updated Feasibility Announcement. The algorithmic action over the last few weeks would suggest to me this is the most likely scenario. News will likely be thin for extended period post this Feasibilty report so buyers beware, imo.
Fundamentals obviously look great with payback of debt possible in 1.5yrs or less. 40-50c valuation very comfortable at this stage (which is below most broker targets) and supported by the lovely action and fundamentals surrounding the price of Gold.
In time, I believe we can go higher (towards $1) but knowing how most players at this end of the market control risks, there is no way they’ll leave significant funds invested in BF long term as this mine gets built.
Personally, I’m very heavy this stock so not the easiest ride. Have taken 25% of holding off the table yesterday.
Most important of all, I’m happy that it’s turning out ok for @eshmun.
WAF Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
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