FAR into BDR

This is a calculated gamble that turned out dry. In the days ahead, with no further drilling, the share price will collapse further. So at my first opportunity, it was tossed out of my portfolio. From a nice gain, up more than 100% at one time, it has turned out to be a loss.

But that is the nature of investment in explorers. Those that are successful will reward well but they can disappear too if they fail to find the mineral, especially after an expensive exercise.

I first bought BDR in Oct 2008 and this parcel has rewarded me well. In January 2011, with another good announcement, I bought a small parcel to top up but at 86c. Today, with an excellent announcement, the share price only moved up a little. How good? The best is 10m at 205g/t including 1m at 1877g Au/ton. And then there is Fe at over 50% from surface.

When the share price hardly moved after the latest announcement, I used a portion of the money from FAR to buy BDR at 85.5c. How can anyone ignore a 1877g/t grade?!