BSR - Bassari Resources Ltd - African Goldie

[drillfix]

Anybody got any thoughts towards BSR which is an African Goldie?


Taken from the last ann in the left section:


FAST FACTS

Bassari Resources Limited is an Australian listed company focused on discovering multimillion ounce gold deposits in the Birimian Gold Belt, Senegal, West Africa.



ASX Code - BSR

Issued capital: 352,648,689
Listed options: 78,783,940 (exc: 0.20c exp: 30 Jun 2012)
Unlisted options: 5,800,000
No of shareholders: 1,808
Top 20: 32%
Cash at end of Quarter $3.56M





INVESTMENT HIGHLIGHTS


Exploration permits covering 851 km² over prospective Birimian Gold Belt, Senegal, West Africa.
Quality ground holding in a 50M oz gold region which hosts a number of world class deposits.
Thirteen prospects identified along 80km strike length within Kenieba Inlier.
Strategic and dominant exploration package.
240,000 ounce maiden Gold Resource at Makabingui Project with drilling continuing along strike and at depth.
Senegal, stable democracy since 1960.
Gold intersected over a wide interval at Konkouto Prospect.





BOARD AND MANAGEMENT


Jonathan Warner - Non Executive Chairman
Jozsef Patarica - Managing Director/CEO
Dr David S Tyrwhitt - Non Executive Director
Ian Riley - Company Secretary/Chief Financial Officer




A while back, a friend of mine told me about these and I kinda was cash out (glad I was) and the price much higher than now, but dont understand why some goldies get sold off as they do.

I have positions in CVR and PXG and as of today bought a small parcel of BSR @ 4.7c

Can one of you fundamental guru's out there please run a ruler over these for what your valuation of the fundamentals are potentially are worth?

Technically the stock is dive bombing in a down trend, and similar to CVR I think the downside from here will become limited compared to the eventual or potential upside. (imo at present).

Thoughts appreciated plus this starts off a new thread to another goldie whom some may or may not like. :)

[JBmurc]

Marketcap 16-17mill ??

Cash at bank

Opts in the money when they will ex..

what's the grades like an depth of resource etc likely costs etc

Personal would rather have invested more into CVR,PXG than an pure explorer even if it has a great resource while we are in such a Fearful weak market place

[drillfix]

Just updated the options strike and expiry price and the end of quarter cash$ in the previous post JB.


Listen, I am not saying this is a better investment or anything than the other stocks which I also hold, but I understand your reasoning of adding to the other positions, though this is just more exposure with results still pending.

As you probably know, I usually jump in and out of stocks more frequently however since holding CVR this has enabled me to take a slower trade and apply patience, so with regards to BSR, this could be only a trade with a tight stop should I get it wrong so not really too worried.


Also as there was no thread, I thought, what the heck, add another stock the the ST list of stocks already here.

[JBmurc]

fair enough mate I brought AYN for a short term trade stock with the plan to bail on movement into the low teens ,when I compare the fundamentals of AYN to the likes of CVR (if all goes to plan) it makes me want to load up on the CVR stock as the forward numbers pale AYN's yet AYN command's 5 times the market value ,,,so all goes to plan CVR should re-rate strongly 5 x current SP min IMHO

-only pure explorer I'm holding now is KRE as is valued less than cash backing yet will have 55% soon of a 10billion dollar REO asset one of only 20 in the world
-PXG is now becoming a hybrid explorer/producer so could well give the likes of CVR a run on good results

Sold all of my HLX,ARD,CFE,PSA even though they are all great undervalued companies just really need exploration an confindence in the credit market.....while the likes of CVR will make $$,$$$,$$$ profit even if the market stay scared for years as long as gold doesn't puke

[drillfix]

This stock seems to have another larger seller that wants to exit. What is it with junior goldies and large sellers exiting. A popular trend indeed it seems.

On that note, I also noticed the XAO breaking downward of resistance and the SNFE sinking too.

This has led me to exit out & take a small profit whilst I could and will now rethink another entry with this stock, and others accordingly.