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Author Topic: lately this has been the official BTP board!
HasmirFenring
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Hee hee let's hope that there is light at the end of that tunnel! ps NP you rule for doing all of this DD and posting your thoughts!
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northernprophet
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Believe me HF, I would not yap so excessively about this stock if I did not believe in it. And believe me, if BTP tanked from here, I would take a huge bath, financially speaking.
Let's wait for the Buffalo Gulch results (4-5 holes) to come out and let them announce their plans about financings and future drilling.
BTP is doing absolutely nothing to promote themselves. (Which is good, in a sense; if S/H was full of pumpers, I would be concerned) When palladium was $350 in late March, BTP rose to 45 cents on that, and Union Securities' David Chapman's tout in Investors Digest.With Pd at $220, nobody cares about the Stillwater holdings.

Nobody Knows about BTPs gold properties!!!
I believe they soon will. I can't see a company holding a property for 8 years, without it having exceptional merit.
Hang in there.

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blue_in_MI
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Not to be an eternal pessimist, but - I have to play devil's advocate here. Perhaps my thoughts are colored by losing $600 on BTP so far, I admit that I am displeased with them. but anyway - my uneducated opinion, fwiw.

In my mind, BTP has backed themselves into a corner by their complete indifference to any kind of promotion, and a very weak drilling program this summer. They were of course helped along down by the reversal of metals prices. Now they are stuck and forced to finance at dirt-cheap prices, which will cause big-time dilution and drive the price down even more. And as shown by the complete indifference by the markets to their recent results (which took forever to release) - 4 holes in a couple places just ain't enough. We've actually dropped on teeny volume since they finally released results. How are they going to even contemplate a move to production in future years, if they can't even afford a decent summer dig program? Where the heck is that $ going to come from?

I also don't understand their focusing on Idaho this year. I know gold looks stronger than Pd at this point, but - Pt is still fairly pricey. Their Montana properties are what drew me and I think most investors to BTP - not Idaho. The Idaho property strikes me as fairly "run of the mill" and in line with what other junior gold miners are holding. I don't think many juniors have a property as good as BTP's Montana property though, yet they have chosen to ignore it. I don't understand complex "games" and trying to force prices down and all that, perhaps I am unsophisiticated. My opinion is: if you have a good property, don't dig *around* the high-promise VEZ, dig *into* it! Get people excited, move the price up, and then finance at high prices to minimize dilution. Yet, they seemingly have chosen to go the opposite route, inexplicably to me.

Anyway, BTP really confuses me because I believe they hold good properties and that the management was at least good at one time. Honestly though, I don't know where they are headed and what their goals are. It almost seems like they are just "waiting it out", hoping to be bought out or for metals prices to rise again. At this point though, I admit I'm nowhere near as optimistic as you are, NP - sorry.


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northernprophet
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I am going to finally say something bad about BTP. The Montana properties although excellent, and probably having something at least as good as the J-M reef, are NOT PROMOTABLE with palladium (reefs are 75% palladium) at this price.
The only reason Stillwater Mining is making money (kind of), is that they are hedged until 2010. They are getting over $350 for their palladium.
With the environmental and regulatory hell that any potential new miner would have to go through in the Stillwater complex, a new $200 million mine would only get built if palladium was closer to $400, than $200, and more stable priced.

My new take on BTP:
years1998-1999:BTP, knowing that gold is in the tank, pick up some properties in Montana to promote and keep the company alive until gold goes over $350.
With the Montana promotions, the stock needs to be reaccumulated, they pretend to sell the gold properties to Canden Capital in 2002 (the CEO of Canden, the late Arthur Fisher, is one of the larger S/H of BTP) to drive more shareholders from the stock.

Something could still happen with Montana, but in the short term, it is all about Idaho.
The name change from Idaho Consolidated to Beartooth at the same time pretending to sell the Idaho properties was just a big fake-out. I M O

PS. When Arthur Fisher was talking about Canden's new gold properties, he said that Buffalo Gulch was the one that had the most raw exploration potential.


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blue_in_MI
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another good lesson from BTP is: always check the "short as a % of float" numbers. if there is a big short position taken in a stock - you'd definitely better sell it.

highest "short as a % of float" i've ever seen is: KKD - 37% of float is now short!! ouch! shorters make an absolute truckload of cash on them - down 15% yesterday alone, worth about 1/3 of what they were just a few months ago.


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northernprophet
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Ah, Krispy Kreme. I can't wait for one to open in Edmonton in the fall/winter.

The short position in BTP is now zero (as of July 15), and from my info, it was an option holder. Shorted the stock at .24-.25, exercised options at 10-19.
After all, who would short an illiquid stock at 25 cents.



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northernprophet
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http://www.stockta.com/cgi-bin/analysis.pl?symb=BTP.C&mode=table&table=trend&num1=2

Sometimes things are hard to see without some help from the charts.
"Intermediate term bullish breakout."

[This message has been edited by northernprophet (edited July 31, 2004).]


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blue_in_MI
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bullish breakout? hmm, sure doesn't look in the cards to me: hovering around .145 on $500 or so a day daily volume. there has to be interest and volume for there to be a breakout - neither of which BTP unfortunately has at the moment. 4 holes isn't going to create excitement or cause breakouts. on the other hand: if the upcoming dilution is big, this could easily dip into the single digits. i certainly hope i'm wrong, but - nothing about the chart or company says "breakout" to me. not all of which is BTP's fault - a lot of it of course has to do with the bullish metals market coming to at least a temporary end.
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blue_in_MI
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the missed opportunity with BTP is: they should have promoted more and helped out the stock price, and *then* financed at higher prices. the dilution at .15 will be 4x more than what it would have been at .60 - they waited too long.
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northernprophet
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The bottom line is in the next 30 days, they will have to announce some plans and do a financing.
Believe me, BTP has strong shareownership.
A lot of junior golds have botttomed, and I think we will have a good fall.

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blue_in_MI
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hmm, so much for the bullish breakout: 2 days of no trades followed by 10% dump #13 or so in the last 4 months. i just wish this turkey would crawl back to .18 range so i could bail with still enough left to buy a couple of pizzas. somehow, i have serious doubts.

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northernprophet
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Don't give up blue. (everyone else too.)
Look, the insiders are not dumping here at 3000-20000 shares/day.
I am not a stock expert, but I have been following the VSE like a hawk for almost 20 years.
I wish I could get some old stock charts up here to prove to you what can happen.
OVERALL, My observations indicate a negative low volume trend before results is a positive.
If the volume was high, with lots of sloppy trading, and some promotion, i would be nervous.
Just give this a chance to start an uptrend and see where it goes.
BTP has yet to promote their gold holdings, but they will, and you will make money on this one.

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BCmouser
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I agree NP holding BTP here for the midterm at least. Gold picking up steam again here again as it popped over 400 US again. Still believe we will be at 500$ us POG by Xmas.
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northernprophet
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The past 2 years: strong US data> gold down;
weak US data >gold up.
Today is no different.
At 8:30 gold shot up like a rock when US July jobs report announced. 32000 jobs in July vs expectations of 250,000. Bad news for Bush. Not his fault though, he has done everything he can.
President Kerry!!!
President Kerry should be good for gold.(Bad for US economy)He has protectionist tendencies and is generally as left wing as Canada's social democratic party (NDP).

With BTP today, the seller is Canaccord capital, but the buyers are houses I like to see.
CIBC 35000
RBC 45500
Golden Capital 34000, they have been buying for over a year now.


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