In relation to other "Project Opportunities" as mentioned in the last quarterly update, this is obviously a pretty broad statement. However after looking at the share selling activity recently and today, it got me thinking.
There is one peanut selling one single share every hour or two and one might ask what is the motivation for this?
Assuming these share sales are not BOT games, but a real person selling like this, what could be the reason/s....?
Are they....
1. Attempting to start an avalanche of selling due to manufacurting a 5% drop in share price ? Surely the seller can't be that naive? If this is the case, the seller is probably selling to himself with another trading account, or sitting below at 0.10 hoping for that avalanche to happen he or she is trying to create, which rewards their efforts with some cheap shares. I doubt that strategy will work with BMT considering most are long term holders and are not going anywhere.
2. The seller could be connected to a group who have wet eyes on BMT as a perfect vehicle (due to holding decent cash dollars and quality prospective assets), with a view to approaching BMT for a RTO, TO, JV or any other number of plays. These micro trades could be a weak attempt to try and keep the share price dipping here and in turn artificially impact the moving average over X amount of days. This may or may not have an impact on any potential discussions with third parties concerning other "Project Opportunities" as mentioned, but it would not be the first time this has happened in the lead up to a commercial outcome.
It is pretty obvious to everyone this stock is very tightly held, I think it took me 2 months to accumulate a reasonable holding earlier this year. Unless someone needs to sell for personal reasons or they see another stock they must have, this volume is going nowhere until we get to the end of the story here with BMT, or certainly until we are provided some definitive project announcements that table a clear path to developing the resources BMT hold.
So if it is a real person selling that one share every hour or two, I suggest you are waiting your time.
Lastly, I thought I'd state the obvious, that BMT is both an exciting and boring stock to hold, exciting as the infrequent announcements when they come usually reinforce why we are holding, yet the long drinks in between can leave one wanting and I believe there is much more positive news to come this year.
In this instance (and this is just in my opinion) the lack of share trading is a clear sign most all holders here are waiting of bigger things to be announced and "bigger" will be hope will be worth the wait.
I'm looking forward to the next announcement and hope it once again reinforces BMT substantial potential !!
DYOR
Cheers M
(20min delay)
