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blue_in_MI
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back to .23, same place we were a month ago. two steps forward, two steps back; sigh.
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blue_in_MI
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.20, nice.
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blue_in_MI
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any thoughts on this tank-job by BTP, NP? are they ever going to get their butts moving in montana? this company has definitely taught me a lot of valuable lessons about stocks, that is about the only good thing about BTP's collapse as I see it.
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northernprophet
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This IS bottom here for BTP.
I must admit, I never thought BTP would be at this price in late May, but I have been in this situation before. Every great winner I have ever had has been taken down before it got going again. There is no hype premium in this stock.
Absolutely, there is no better buy in mining right now, and if BTP is not a HUGE winner I will never talk about mining stocks again on this forum.
The players are positioning themselves; they are the same people who were promoting BTP last time it went to $2.
Next week we should be receiving our annual report, it will be interesting to read.
Believe me everyone, with 2 great properties in the U.S.A., the people behind BTP will have no problem getting the story out.

Blue, this is not a collapse, the stock is being driven down. If it was trading 700,000 shares a day in sloppy trading, I would be worried.
Also, if BTP were trading at $1.00 right now, we would have a tough decision to make before the drill results.
BTP WILL BE A HUGE, HUGE, WINNER , I GUARANTEE IT. Again, $2 minimum.

[This message has been edited by northernprophet (edited May 28, 2004).]


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northernprophet
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Another point, whenever there is lots of hype surrounding a drill program, it is a bad sign.
One lesson I have learned in mining and oil/gas, is that you never buy a overhyped drilling play. That is the biggest sucker play in the world.

The people behind BTP are quietly going about their business, doing their drilling.
They will announce their findings shortly.


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BCmouser
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Think you are right here NP, I have got bids in for this one now -been watching for a few months. Dont think it will look back once it starts to fly.
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northernprophet
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Being a great speculator takes balls, vision, conviction, and patience.
You really think that Andrews, Minty, Bharti, McCarvill could not have this thing at $1.00.
MACD moving up.
From A******* Bulls.
"Today a hammer formed. The bears drove the price down, but the bulls were able to mount a rally and the close was relatively strong.
Be careful, the bears are weakening and the bulls are gaining strength!"


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Got in at .22 this am
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blue_in_MI
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well, I certainly hope you're right NP. am down so far and have a small enough investment that i might as well stay in now and see if this thing ever goes back up. BTP looks likely to hit .15 within 2 weeks, i might buy a little more if goes all the way down to .10-.12 range. are they ever going to do anything in Montana?
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northernprophet
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The exchange bought 81,500 more shares today, now they own more than 500,000 shares of BTP.
I am sure they have wrapped up their drilling in Idaho (only 3000 feet) so some results should be out in a couple of weeks.



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blue_in_MI
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.16, nice. guess i was too optimistic when I thought it might take 2 weeks to tank down to .15, at this rate we might be there tomorrow. down almost 2/3 off of the recent peak barely a month or two back, ouch.
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northernprophet
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I have never seen less hype associated with a drill program.
These guys have a good chance of coming up with some numbers in Idaho that will grab the market's attention.
I am still completely bullish.
Give me a $25,000 promo budget, and even I could have this thing trading at $1.00. BTP is conspicuous by its LACK of promotion.

The ONLY thing I do not like about BTP is their decision to de-list from the USA. But they are still trading on the pinks, so maybe something is up.



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blue_in_MI
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.15, what a complete and utter tank-job. sorry NP, but a $2 target is almost impossible to picture for me at this point, BTP is in broad selloff mode on huge volume. i might eventually buy more because seems like they have good properties and management, but it won't be until it hits 5-7 cents. at this rate, it might not take more than another few weeks to get there. not even worth selling my small amount of shares now, especially with the high surcharge for canadian stocks with scottrade - i'd barely get enough back to order a few pizzas and some beer. i know you're still bullish NP, but hope you didn't have too much in this one. i have to admit that it really is surprising that many junior mining shares have fallen so ridiculously far, i certainly didn't see that one coming. ouch!
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northernprophet
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I am still bullish. The trading was not a selloff pattern. Lots of big bids came on and they were filled.
I believe the downward push has ended today.
I have been following mining stocks for a long time and I have seen many stocks go from 20 cents to $3 to $4 in short order.

If the results were that bad, they would be hyping up the stock and selling to the suckers at 60-70 cents.
NOBODY IS MAKING ANY REAL MONEY SELLING AT THESE PRICES!!
I have been buying a bit more, and yes, I will take quite a hit if BTP does not deliver.
Also, the shorts are starting to cover.


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blue_in_MI
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amazing how this thing has just blown through 100 and then 200 day MA's just when they are finally getting ready to do something:
http://tinyurl.com/yrcnc

even the day they announced they were actually going to put down the donuts and pick up the drills, they dumped 15%.

i don't know much about canadian stocks, is there a way to check (like you can with US stocks) if insiders are dumping shares and that's part of why BTP is in freefall?

what would you guess their timetable is for montana, np? to me, that sounds like the more promising of their 2 properties


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northernprophet
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I find the site awkward to use. But it lists the insider trading for free. It is the British Columbia Securities commission.
Believe me blue, the junior markets are now highly and tightly regulated here, so much so that many of the lesser deals are moving to
London or Australia, or the US.
There is no insider selling going on in BTP. www.bcsc.bc.ca
The trading pattern was not a selloff it was people being fed shares.
One up day in the past 15, RIG JOB.
Watch this closely next week.
V bottom.

[This message has been edited by northernprophet (edited June 05, 2004).]


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BCmouser
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Well NP took the plunge and picked up more at .14 today. Buy when everybody else is caving -love it
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northernprophet
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I believe buyers at this price will be richly rewarded. I bought some more recently at .22 and .17.
On Monday I saw people being fed cheap shares. Union picked up 100,000 as well Desjardins securities picked up 100,000.
Certainly not retail guys.

Even the TSX picked up ANOTHER 19000.
Still bullish.


i


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blue_in_MI
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i have a limit order in to buy more at .09, to me that is looking like where bottom support will *finally* kick in. frankly i hope BTP shoots up and the order never fills, but the way things are going i'm suspecting it gets filled late next week. we'll see, i certainly hope that I'm wrong and that NP is right. makes no sense to sell at this ridiculously cheap price though, i still like the promise in BTP's properties. just wish they'd actually *do* something with them, particularly in montana - they seem to be in no hurry.
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northernprophet
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I think many people are totally discounting the Idaho assets. Obviously, the most important factor in BTPs future will be the announcement of the drill results.
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blue_in_MI
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major metals wipeout, ugh. looks like i might just get that .09 order filled next week, unfortunately.

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northernprophet
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OK. Down to 12.5 cents. Right now, 225,000 shares bid at 12.5. I was going to check level 2 to get depth, but it is down.
The buying is nice big clean blocks of 40,000 , 50,000, 20,000 shares. Not a sign of desperate retail guys adding to their small positions. I am still bullish.

Obviously, I will have no more excuses in another 3 weeks. These guys will need to raise money soon to drill Montana, I certainly hope they will not be raising it at 10 cents.


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blue_in_MI
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metals stabilizing a bit today after yesterday, but - yet another double-digit loss for BTP so far today. april was a train wreck, may was the titanic, june so far has been the hindenberg.

isn't the annual meeting in 2 weeks? still waiting on my annual report. are they going to have to sell more shares to raise $ to wake the guys up in montana and have them start drilling? their idaho drilling was only a $200k project. if their montana drill is similarly low-budget, should they really need to do a new financing?


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northernprophet
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I received the annual report on Monday.
It is a non-glossy, non-promotional and cheap. Just the statements and voting instructions. Most juniors spend $10000-$15000 and print up a nice one with pictures of their property, etc.
It costs a lot to run a junior, and they must be close to broke, although options may be exercised.
Right now it's all about the Idaho results.



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blue_in_MI
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what does $200k buy, in terms of exploration? a few days and just testing a few spots, 2 weeks with thorough drilling in several areas, ...? i have no idea personally, just looking for input since you know much more about mining than me, NP. is that a typical budget for an "expedition"? is that what we should expect for montana drilling later on this summer also? what do you see as btp's feasibility and timeline for going into actual "production" at either site?

i don't understand the lack of promotion - shouldn't they be *trying* to promote, so that they can issue fewer shares for the same amount of money when they need to raise capital? i wonder why the annual report was so cheap, it would seem like a better one would be worth it if it helped draw new investors.

i'm also weary of trying to figure out how gold and other metals react to outside influences. it seems clear that it's mostly tied to the dollar - dollar strengthens, gold weakens. some camps seem to think that gold is a good hedge against inflation, yet sometimes it seems to dump on inflation fears.

well, hopefully the idaho drilling results will be good. probaby you will need to explain them to me once they're finally out, because they will all be in terms of gradients and zones and VEZ's and all that jargon i'm not familiar with.

have you ever called BTP, NP? just curious if they have an IR person that could maybe provide some insight into their recent tanking, what they're up to, and their seeming utter indifference to their share price.


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northernprophet
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Yes, $200,000 US is peanuts, but all the preliminary work has been done, plus they have the database of all the holes ever drilled in the area, as well as in Montana.
Also, the last guy I talked to about BTP was Ted Tomasovich, in California, former CEO, and now consultant. He put lots of his own monet into BTP.

I have not talked to the new mgmt.
In Idaho, they have probably drilled 7 or 8 holes. Results should be in 10-15 days.
I am going to buy another 5000 shares tomorrow.

[This message has been edited by northernprophet (edited June 10, 2004).]


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blue_in_MI
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wow, an actual *up* day, i forgot what those were like for BTP! kind of misleading because all the serious volume was lower than the close, but - you take what you can get.

did get the annual report in the mail yesterday, haven't read through it yet much though. will peruse this weekend, except for the parts my daughter got pizza sauce on and are now unreadable, heh. did see that the former ceo you mentioned is the biggest shareholder now, he owns ~16% of total shares i think it was? sure a lot of presidential turnover at BTP, almost every year there's a new one.


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blue_in_MI
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at least showing hints of support lately, hopefully we found the *real* bottom around .12 last week. we shall see. metals certainly looking shaky again these days.

some pretty interesting stuff on the other board re: short-covering/TSX etc, what do you make of it NP?


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Yes, the bottom line is that this stock is being played with. I will report the new short positions in the next few days, i am sure they are down drastically. The fall from 40 to 28 was in sympathy with the general decline, the rest was a PUSH.
ONLY 85,000 shares up for sale at the close today, all between 15 and 20.
Also, 75000 shares traded on the pinks today.
BTPUF at .11 pinksheets.com

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Ameri***.bulls put out a buy on BTP after Tuesday's trading. Don't laugh, their last buy/sell recommendation was over 80 days ago when BTP was 40 cents, and they put out a sell recommendation.
I hope they are right again!!!!

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blue_in_MI
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pretty interesting trading lately, sure is nice to see a few up days strung together after so many bad weeks.

would be very sweet to see all the shorters get toasted if BTP came out with some kickass Idaho results before they were able to cover. maybe a long shot, but - sure would be fun to see that happen and fun to think about, heh


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blue_in_MI
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nice close today. how's level 2 and short position looking these days, NP? also, are you thinking it's definite they will announce idaho results/montana schedule either before or at the annual meeting, which is coming up in a week and a half?
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also, OT: do you know anything about BZA.V, NP? they appear to be sinking pretty close to their cash-in-the-bank book value, and i was tempted to buy some if they dip any more.
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I will tell you from experience and observation, that "cash in the bank/share" is the WORST reason to buy a penny miner. Cash tends to disappear pretty quickly with some of these guys.
Kickbacks, travel, restaurants, etc. Buying into other company's private placements. Bogus property acquisitions. I am not saying these things about BZA in particular, but it can happen.
Believe me, I have seen companies piddle away 10-15 million dollars.
If cash value is the only reason, then do not buy.
I will look into that one further and get back to you. It is a pretty popular stock on some of the boards.
Also, the summer is also a bad time to buy, because if gold does not come back before fall, the tax-loss selling season from late Sept-early Nov will be brutal.

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BZA has good people and has probably reached a bottom and is well financed, and the cash will get spent on thir properties. (I don't like to see companies with lots of cash and no active programs)
They may pull out a few nice cores, and like most resource juniors, at least a near term bottom has been made.
BZA is probably a good buy around current price, lots of strong bids.

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