Yep, I would put them worth about 60 c right now but yeah the market defines the price and is never wrong...I see massive value in buying them at this price, but some still see value selling at this price as they are happy with their profits from holding lower and angry about the fall and taking the loss.
I just think its going to be a bit more of a journey than a short hold. Dealing with the government, EIS process / public submission for or against the project based on the EIS and then the huge scope of the project...a whopping big steel mil......well...it could be the type of share to acquire at a price we are happy with and hold for a good bit.
Thats my plan anyway. I am sitting on an average around 22 for the heads and 12 for the options so not stressing and it might keep going down. But I cant see any other company staring at a company making situation being almost handed to them at the moment. The government which traditionally can red tape everything out of control looks to be handing BGD the project on a platter....well authorising it anyway.
Financing...the blight on all company;s wishing to achieve outside their capabilities looks also to be organised.
Time...for me...its just a time thing and while patience is difficult for us all...I'm happy to buy, hold, buy some more and let the days tick by.
Maybe Gizard is right and the 9 years they have spoken of getting a steel mill to happen is all a big joke but with finacning and the government looking to be onboard, the site picked, consultants organised....I can only see time as the factor preventing BGD reaching highs it hasn't seen before share price wise....so if you're buying....these falls are good for us...and if you're holding and waiting...you'll probably be ok anyway in time.
Great sharing of info guys.
BGD Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
