The Aug 24 news was so bad and awful, it can't be true. $250,000 expl. in each of the first two years. Why do the deal without knowing what Buffalo Gulch holds?
WAIT for Buffalo Gulch results, that is all I ask.
The Aug 24 NR was pathetic, bad, awful news.
(If the gold assets are worth optioning for that low a price....)
The stock should have sold off on high volume, yet it is strengthening.

unfortunately, i don't see any other way to paint it except that this was a disastrous summer for BTP. they spent all of their time digging 8 holes in properties they appear to be giving up on, and ignored the properties they are going to hold. again, it's not all their fault - i wouldn't have guessed either that Pd would crash to $200. but - they certainly didn't help themselves out this summer through sharp management techniques. very disappointing all in all. i still believe that the management at one time knew what they were doing, and that their montana properties are promising. but - seems almost like a case of "right place, wrong time, not enough in the coffers". also, i wonder how much of the montana properties they are going to be able to afford to keep. it's hard to envision a scenario where their property holdings don't shrink, i'm just not sure how they can afford to hold on to them all.

i'll probably just hold BTP, because I don't have many shares and am already down so much. however, since you have a sizeable investment still NP, i would seriously consider phasing out part of your holdings. while it's painful to take a loss, honestly it wouldn't surprise me to see this go lower. i agree that junior mining companies are beaten down and undervalued. but BTP is going to have to generate excitement in order to drive their share price up again, and i'm not sure how this management is going to do that, especially in the face of shrinking property holdings.

Technically, BTP is building a base.

the gold thing is dead and buried imho - not an issue, or they wouldn't have sold it for diddlysquat. i don't really see why the buffalo gulch results mean much of anything at this point, frankly.

BTP either had no plan or a stupid plan for this summer, exacerbated by the collapse of Pt. I am guessing that, if they have any brain cells left, they will try to keep as much of the Montana properties as possible, and pray that next spring and summer that Pt is $350/oz instead of $210. BTP is pretty much dead with Pt at $210. they've left themselves little other choice except to pack it in for the year, lick their wounds and contemplate their missteps, and hope for a Pt recovery next spring to generate enough of a runup in BTP stock price that they can actually finance a dig again.

I still believe BTP has excellent Montana properties, the 2 questions are (1) how much can they afford to keep, and (2) what will happen to the price of Pt in the next 8 months?

I still could see a possible takeover by a company with actual real money in their coffers, but - hard to say, that'd just be pure speculation.

some of it is easy to translate from -

"Activity during the second quarter has emphasised thorough compilation and reinterpretation of information available from earlier exploration"

"thorough compilation and reinterpretation"

...obviously translates to...

"we didn't do much real digging"

what i find most disturbing about this PR (other than the fact that they are down to $52k working capital) is the one about:

"a stock option compensation expense of $353,679 in the quarter ending March 31, 2004"

As far as the stock option goes, they didn't actually go out and pay someone that money, but the options that they grant (like all companies do) are counted as an expense.
I am not an accountant.
The company issued some more options after the annual meeting. The amount of options out is no different than any other junior company.
The options were granted to many people, not just one person.

Keith Minty, the CEO is getting $10,000/month, these guys have been pretty good with their money.

Technically, the stock is base building, and they are going to drill Montana.
Not bad news.

I just cannot believe how dead all the markets still are after labour day. I thought the volumes would pick up.
The DOW is on its 5th longest sideways streak in 20 years.

Is possible for you to post your e-mail?

The last time I was in a position in a stock in a straight line pattern was Pacific Rim 4 years ago. I got sucked in by all the glowing reviews in the northern miner.
The stock was around $4.00, it gapped down to $1.50, then eventually went to 15 cents.

i'm sorry NP, but - the fat lady i think has sung on this one. i truly feel bad for you, i tried to warn you: sell at .17 if you could get it. i'll repeat: sell at .14 if you can get it, this is going lower.

Blue, I have been following Canadian pennies for a long time, and the stories I could tell.

The final chapter for BTP has not been written yet.

I will admit we are getting close to crunch time, and next week will be important.

BTP is the most tightly held stock I know. The past 2 months there has been maybe 700,000 shares traded.No dumping going on here.

The news they have put out is as BAD as possible.(BAD, AWFUL, HORRIBLE)
Even the headlines. "Beartooth loses $650,000 in first two quarters."
EVERY exploration company loses money. There is no revenue coming in when you are an explorer.

There is something up here, besides Montana.
BTPs Montana assets have the goods, that is why BTP tracked the palladium price last March.
Unfortunately ,we need to see palladium over $300/ounce for a drill program to have any investor appeal.
Also, starting a drill program in October is ridiculous. I cannot take them seriously when they say they are going to start drilling in October.

I will not give up on my theory the sale of the gold properties was a fakeout until the Buffalo Gulch results are announced and they are awful.
Does anyone have a theory on why they have not announced the results yet?

[This message has been edited by northernprophet (edited September 11, 2004).]

I now hope they drill Montana this year, but it is getting late.
Even Denver can get snowstorms this time of year.

As you all know, BTP rose with the price of palladium last winter, and BTP will rise in lockstep with a rising palladium price.

Blue, if you sincerely believe palladium will rise, then BTP is the stock for you.

Look at the Uranium stocks that Dines is touting.
Look at a stock called JNR Resources(JNN) (4 cents to $1.35 in a year)
These stocks are like BTP 3 years ago, when you are in the right sector, you do not even need to drill.
If palladium went to $400, BTP would be over a buck, without a drill turning.

The bottom line for me is that if I never heard of BTP before and someone told me about the company, I would think it was an excellent speculation at these prices.

Look, if this guy is right, then BTP will be OK.
Obviously, I was wrong about Idaho, but these guys are starting to affect my thinking. lol

Out of all the garbage that is going on, one thing will hold true.
Palladium up>BTPup, Palladium down>BTP down

They just paid the Montana BLM about $80,000 US, not a sign that the company is going under soon. Also, Robertson is currently at the Red Lodge office.

[This message has been edited by northernprophet (edited September 18, 2004).]

i still see BTP's future this way: dip to around 6-8 cents this winter, and basically hover there. if Pd makes a comeback to $300, they will likely move back to .15 range at some point next year. it's in a sense a race against time for them: hope that Pd recovers before they run out of money. they are going to have to be careful next year with their next financing: mass dilution will not be taken kindly by the market.

I am hanging in there, there is no difference between 8 cents and zero.

There is a reason BTP perfectly tracked the rise in palladium last spring.

Finally, I see capitulation.