What's the matter with Birim? Today's price decline is atrocious. Birim stock (BGI.TO) has been meandering down for about a year on modest volume and today on low volume it plummeted to C$0.35 (so far).
Birim, along with Orezone, is my FAVORITE West African gold explorer (Semafo's my favorite producer) now. Birim's Bui property (huge, at 7,000 sq km possibly one of the largest in West Africa outside Mauritania) is it own gold belt --- a minature Yamfi Sefwo or Ashanti. Birim has only seen a tiny amount of it so far, and already they've found at least three independent gold fields. The local galimseys keep finding new gold there too.
For ongoing operations, Birim has money, from placements as well as a royalty income stream from their earlier success at Dunkwa/Mampon.
The remote Bui property is the type of place where a bonanza/golconda/eldorado find is possible. (I've wandered around the back-country area there as tourist -- not as a geologist. I visited the Bui hippopotami.)
So according to me, Birim stock "should" have been fluctuating upwards (not down) all this time, and it "should" be over C$1.50 per share pending the next announced goldfield discovery.
Maybe it's lack of hype. Birim management seems to be competent gold explorers, not perpetual stock promoters. But all this languishing is too much.
FL
