Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Checking in on MM thoughts on Blackstone Minerals (BSX) last time you mentioned BSX you thought they had an interesting future if they execute well. Are you aware of any further developments to indicate that they are on track and executing to plan? Does Peter still hold a price target for them or any further opinion? Still in the speculative buy category or has MM revised its opinion of BSX? Thanks Steve
Hi Steve,
In April when the stocks was trading ¬40c we described BSX, nickel/copper hopeful, as a “highly speculative punt” and it has proven to be the case. Companies that are burning money are on the nose and BSX fits that bill, while no real news flow has been forthcoming. At 15c it looks interesting, but the trend is one way at the moment. We would be more inclined to buy the stock when it’s starting to move on the upside.
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