The bottom line is many people had totally unrealistic expectations. From discovering diamonds at Basin Gulch, to being purchased by a NASDAQ company, not to mention the endless speculation about BG. Granted, the press conference venue probably contributed to those expectations, but when "the next 10-bagger" mentality takes over, people are going to have totally unrealistic expectations. Just the level of activity on the board should have been a warning to everyone that expectations might be getting seriously out of hand.
That being said, the company must now provide details of the JV to ensure shareholders that this is not another in a series of "next quarter" deals. Most importantly, we need to know when revenues will be able to be recognized, and I don't mean the very iffy "in the third quarter". If in fact the properties in question are currently producing gold, surely the date that we will become a participating JV partner (and earn revenue) needs to be disclosed. Information regarding the expected recovery rates and cost per ounce to produce are also needed. Disclosing exactly when we will become a JV partner and begin recognizing revenue, will go a long way towards quelling many peoples beliefs that this is yet another "next quarter" deal. While I do not subscribe to that particular theory, apparently more than a few people do.
The above comment in no way constitutes a recommendation to buy or sell any securities. Any investment decisions should be undertaken only after conducting extensive due diligence.
AI
