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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@fscwireAston Bay Holdings’ Agreement with BHP Billiton to Terminate @fscwire/aston-bay-holdings-agreement-with-bhp-billiton-to$BAY “We remain confident in the technical merits of the Storm Copper and Seal Zinc Projects, as well as the exploration potential for both copper and zinc on Somerset Island,” stated Thomas Ullrich, Chief Executive Officer of Aston Bay. “The company is well capitalized with at least two years’ estimated funds for general and administrative expenses. We look forward to advancing these projects and expect to provide further guidance in the coming weeks.” #copper
@SarbBlessing in disguise for $BAY as I see this. I am sure they will get more projects and bounce back strong by this Summer. For the time I expect this to soften up a bit more as few investors (those who got in for BHP) will bail out putting the downward pressure short-term
@RocketRed$BAY High-grade zinc mineralization also occurs in the Seal deposit on the western end of the property on tidewater. Drilling to date has defined mineralization over 400 m long, 50 m to 100 m wide and 12 m to 20 m thick. The average grade of the deposit is 7 per cent zinc to 8 per cent zinc and 23 grams per tonne silver to 27 g/t Ag. Intervals within the zone contain up to 33 per cent Zn and 140 g/t Ag.
A historical geological resource of two million tonnes grading 8 per cent Zn and 30 g/t Ag was estimated from the drilling by Teck Cominco geologists in 1997. Scott Wilson RPA cautions that there are no data available to independently verify the historical resource. Consequently, while it is indicative of the potential extent of mineralization, it should not be relied upon. The limits of the Seal zinc deposit appear to have been defined, but there is potential for this type of mineralization to occur elsewhere on the property.
@lukejacksonVery interesting re: Broughton $BAY - just because this project may not be BHP sized, doesn't mean it couldn't be a big discovery - especially for an 8 million market cap. I just wish I could get warrants for all the risk one takes to fund this sort of exploration.
@MiningBookGuy@lukejackson - i still don't own $BAY, but like a lot of what i'm seeing.
funny thing is that I hope $BAY does NOT go the "full warrant, 5 year route" as a potential retail investor, and it seems like an excellent risk/reward at this level WITHOUT warrants (especially since they are well-funded right now). but if they go in that direction, it's the type of thing that immediately moves the company much lower on my list.
with that said, $BAY might care far more about accredited investors than the 'little people' like me, and that's OK, especially since some of these dilutive deals do end up working out in the end. as retail, i'm personally much more ok with something like "half-warrants over 24 months" than "full warrants over 5 years"...wonder how much it matters to others.
@BS$BAY - WOW nice addition to the team! Particularly when looking for Sediment Hosted Copper. Broughton wouldn't be there if he didn't see potential.
Also some #Zinc targets on the Storm property. Down a lot now that BHP ended the partnership. Worth taking a punt at these levels!
@BS$BAY - well funded for quite a while, large property, where they've drilled some good intercepts and dismissed some other targets quickly. They've now added a (relevant) top explorer to the team. Meanwhile copper and zinc are up quite a bit, yet the stock is down compared to the entire past 12 months. What's not to like?
@JamesKwantesHad a good chat with $BAY CEO Tom Ullrich at Roundup; BHP walked but spent a few million advancing the project, incl through important soil sampling. Looks like $IVN exploration guru David Broughton thinks BHP made a mistake, and he's been up to Yellowknife to see the core
lukejacksonGiven HPX's involvement with Kaizen, Ivanhoe, Ivanplats... Broughton's 3 other insider filings... one might speculate they could be a natural fit as a partner? Certainly wouldn't qualify as a non-retail stock in that case... $BAY Please dyodd just fun speculation
@JamesKwantes$BAY has strong hands holding the stock who would probably top up @Mistersee. Don't have answer on how much $$ will need to be raised, depends on plans, but I believe Ben has said 2 yrs worth of G&A in the kitty. And CEO Tom Ullrich is buying in the market, 50,000 shares at 16.5-17c SEDI:BAY
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@tommyCEO Thom Ullrich supports copper explorer Aston Bay Holdings $BAY in the open market after BHP walks, SEDI:BAY
@BS$BAY, BHP walking opens the door for companies who don't need the abnormal size that BHP needs to move the needle. Sed hosted #copper outside Sub Saharan Africa should get a premium. I'm looking forward to Broughton's involvement, the project has been de-risked compared to last year, they now know where to focus their efforts, and where less so. Should be a good year for Bay!
@RocketRed@BS Teck Cominco drilled that years ago and dropped it yes there is high grade copper zinc there but its to small to be a mine in the Arctic otherwise Teck would of put a mine in years ago.Don't know what $bay has left in the till but BHP spent around 2 mil just in a small program so bay needs funds to go back up there drilling again.Resource Maven put out a sell on it as Better opportunities out there