Jim Letourneau's Blog

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Batero (BAT.V) Strikes Out?

The two year weekly chart of Colombia porphry explorer Batero Gold Corp. (BAT.V) tells a story.

Canaccord's Nicholas Campbell had a $10 target for this stock back in January. Selling was pretty consistent throughout 2011 which was followed by even more selling on February 27th when Batero released its National Instrument 43-101 indicated and inferred mineral resource estimate for Batero-Quinchia. This was followed by... more selling. The market wanted more gold and higher grades.

More recently, insiders have started accumulating shares on a moderate scale. Is Batero done or simply languishing in the "trough of disillusionment" after a robust hype cycle?