BNR 2.44% 4.2¢ bulletin resources limited

NST's market cap in October 2010; after it has started mining...

  1. 1,187 Posts.
    NST's market cap in October 2010; after it has started mining and repaying debt was about 60m. Technically NST only bought the project in May 2010 with a lot more debt financing. Immediate cash flow was assured.

    I would love to find another NST, but I think its a once in a decade opportunity

    You can't make a valid comparison other than saying they both have picked up previously used mines cheaply.

    BNR needs a lot more work - neither the plant nor the mine is functioning, Paulsen's was managed by Bill who knew there was a lot more gold in the ground and understood the financials. Also it was a 'forced' sale in that management were focusing on interests outside of Australia.

    BNR should show some growth, but it is more likely to end up like LSA than NST in my opinion.

    A gold mine for $6m... thats pretty cheap.
 
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