BTR made a quick run recently from 30 cents/share to 47 cents.
Retreated to 34 cents, now through volume trading has regained back to 40 cents leading into thanksgiving weekend.
Two important factors to consider.
First, the inherent value in Gladiator, and the merger with Metanor Resources has not translated to the share price as yet.
Greg Gibson in the BTR Denver Gold Forum interview spoke of OSK and BTR working on south and north, with synergies toward the same goal.
A gold district.
Secondly, the updated resource estimate at gladiator is likely to released in the next couple of weeks. This beautiful number does not have the pressure which OSK had when they released 2.9 million ounces mostly inferred.
The reason is, gladiator though completing 130000 m or more drilled contributing to this updated resource is far from the 600000 used toward OSK resource estimate. So if gladiator initially comes out with 2 million ounces gold, that is great…need have overly high expectations of a number, just to be deflated by the market if not meeting such lofty heights.
Also, it is helpful to understand that MTO’s properties now under BTR’s wing. This means shortly there may be an initial estimate for the Barry property underground. They are going to do a 50000 t underground bulk sample at Barry which will provide detailed geological info regarding what lies under the open pit.
Interesting is in November OSK may provide an update to their resource at lynx, which would certainly have some of the inferred resource shift over to indicated.
The scene is being set up so that there will be a better window looking at it as an entire district, easier to visualize all the properties under one entity.
Keep in mind it has been stated that with the upgrade of the BTR Mill to 2400tpd, that it will be on a larger footprint, enabling even larger production capacity in the future.
Now that certainly says something.
Who here actually believes that OSK will go ahead with the $400 million capex and build their own mill when the option above is so enticing. So whoever the owner, the future, of urban barry windfall is one of an emerging giant gold district.
BTR and OSK have suppressed share prices, with lots of space to more fairly represent their properties and BTR infrastructure.
This will not last long…