Yep sure was.I think a number of factors...Friday is notiously a...

Yep sure was.

I think a number of factors...Friday is notiously a sell day in the arvo due to short termer's not wanting to hold..thus the late drop off just before close.

The DOW last couple of days has been close to being negative and last nite finished slightly down around 36 points.

Some may be thinking BGD's rise is a one day wonder.

Maybe some negative comments on the BGD thread kept buyers from jumping in and wait and see approach.

I see what Gizard was talking about with BGD's past steel mill announcements. If you go on the ASX:

http://www.asx.com.au/asx/statistics/announcements.do

You can put in any year you like and see all of BGD's previous announcements. I'm still reading to see if its the same plan re-hashed and whats different to now but there is a lot of information to decypher.

The company will undoubedtly update the market with further details. The EIS announcement just out yesterday is an interesting read.

I'm going to use this weekend to get right up on the story as only put 10% of my cash into it on Friday and if this is really going ahead...I'll inject another 40% to hold for the duration.

I actually worked on building the WA Port Hedland BHP Hot Briquetting Iron prject from when it was just a site of red dust with BHP years ago and saw the putting together of the plant. It was a massive project and a crazy prfotable one with the plant only needing to operate for I think 3 years to be profitable...then I think they said they would only run it for another 5 years then shut it down...that astounded many but that was BHP's plan at the time.

If Boulder Steel is building a steel making plant whether it takes a few years or five, if they pass environmentally, have government backing and financial backing....its a massive re-rating to come imo....and not 100% in a day in my opinion...a serious re-rating.

I'll post some more this weekend after reading heaps and talking to some old collegues from the WA Port Hedland job.

Sustainable multibaggers I reckon come along to rarely for us not to delve deeper into the BGD story to see if Gizard's prediction of nothing going to come of it or if its really going ahead.