# BSG - Bolnisi Gold



## Broadside (11 April 2006)

It has bolted today but provides good exposure to silver  : 

IMPORTANT DEEP INTERSECTION IN ROSARIO CLAVO
PALMAREJO/TROGAN MEXICO
Hole PMDH522D, being one of the diamond holes designed to test the deep plunge extension of the Rosario
clavo in the Palmarejo deposit, has intercepted significant mineralisation as follows:
24.4 metres @ 2.3 g/t Au and 196 g/t Ag (5.3 g/t AuEq at gold to silver price ratio of 65:1)
including 6.0 metres @ 3.8 g/t Au and 297 g/t Ag (8.4 g/t AuEq)
and 3.0 metres @ 8.0 g/t Au and 699 g/t Ag (18.8 g/t AuEq)
Hole PMDH522D is located 230 metres down plunge and northwest of the deepest holes on the Rosario clavo.
The hole pierces the La Blanca structure a considerable distance northwest of the deepest holes on the Rosario
clavo and extends the precious metal window down to RL 850 metres, well below the historically accepted
base.
The intercept significantly extends the zone of deep mineralisation at Rosario and, after further infill drilling,
should have considerable positive impact on future resource estimation in this area.
The clavo is still open down plunge and along strike.
The deep drilling program was initiated in January to test the concept that the Rosario structural intersection is
the main feeder structure at Palmarejo. The wide mineralised interval in PMDH522D, localised in a stockwork
zone above the main La Blanca fault, is consistent with the mineralisation style in drill holes located up-plunge.
The results of PMDH522D confirm the model of drilling deep feeder structures beneath the main clavos.
Moreover, deep drilling will also test areas within the precious metals window for new, blind clavos (e.g., the
Tucson and 108 clavos). Silver to gold ratios, which show pronounced reverse zonation (i.e., silver-rich at the
top, gold-rich at the bottom) continue to be used to guide exploration on the La Blanca and La Prieta structures.


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## MalteseBull (11 April 2006)

Is it too late to buy at 2.86?
Strong find by BSG


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## Broadside (11 April 2006)

don't really know I need to investigate further I bought on the results today at 2.68 but the fundamentals looked pretty good even before this...esp if you want  exposure to silver.


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## crackaton (11 April 2006)

I am in these at .55 so happy. MMN offers better upside though I feel.


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## MalteseBull (19 April 2006)

hasn't had a good run yet like OXR and LHG?


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## MalteseBull (20 April 2006)

*Should Crack $3 like OXR Did Yesterday!*


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## nizar (20 April 2006)

Broadside said:
			
		

> don't really know I need to investigate further I bought on the results today at 2.68 but the fundamentals looked pretty good even before this...esp if you want  exposure to silver.




Are these guys unhedged?


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## MalteseBull (20 April 2006)

5 cents short from $3!


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## Broadside (20 April 2006)

yes they are unhedged, own approx 70% of mine expected to produce 11 million ozs of silver per annum commencing 2007


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## lbaz9 (16 May 2006)

I think at $2.15 BSG is back in the buying zone.  They have taken a few on the chin the last few days.


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## MalteseBull (3 July 2006)

From 8 sellers at 2.60 down to 2 sellers..
Looks promising


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## chennyleeeee (5 September 2006)

Does anyone know why this company has bolted up in the last week ? Its realised almost 15% in just 4 days. I just wondered if anyoen knew more information for the drastic uprise.

CHEN


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## GreatPig (5 September 2006)

Seems to be in trading halt right now.

Edit: but not for long. That didn't seem to affect the price at all.

GP


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## phoenixrising (5 September 2006)

chennyleeeee said:
			
		

> Does anyone know why this company has bolted up in the last week ? Its realised almost 15% in just 4 days. I just wondered if anyoen knew more information for the drastic uprise.
> 
> CHEN




Joins the S&P ASX 200 on the 15th of this month, more appealing to Insto's.


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## astroboydivx (9 September 2006)

This is one of those stocks that I was this close -> <- to buying at $1.40, but didn't. Don't you hate that?


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## justjohn (11 September 2006)

This stock is getting hammered today down 11% already  :22_yikes:


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## bvbfan (11 September 2006)

astroboydivx said:
			
		

> This is one of those stocks that I was this close -> <- to buying at $1.40, but didn't. Don't you hate that?




Not as much as not wanting to pay 18c back in 2001/2

Could be worth watching during this pullback


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## chennyleeeee (12 September 2006)

Is this really a pull back or is the stock going to just crash and burn ? Metal prices are falling pretty fast at the moment.


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## zed327 (2 November 2006)

gold and silver taking of. bsg looks like a humdinger. Read the reports. More upside and better management than lhg. Silver will move much higher than gold. Production still a year away but the drilling results are very very positive.


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## scsl (2 November 2006)

Merrill Lynch currently have a strong buy on Bolnisi (as seen on Comsec). Has anyone read this report? Care to share.  

A report that I read from Sonray Capital Markets today is very very bullish on BSG. They recommend a small long-term position in the stock who's "price action suggests there is an imminent move". They have a "BUY BUY BUY" on the stock! "Look to add or take LONGs on a close above $2.70. STOP LOSS under $2.50." 

Of course, they make commissions from shares/CFD trades as well as interest on long CFD positions so I'm not about to jump in... Would be glad to hear from others who have bought into the recent rally or are looking to buy soon.


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## Sean K (3 November 2006)

Looks ripe to push through $2.70 to me. Ascending triangle reaching resistance. Increased volume looks good. I'd have to agree this looks very good atm, with gold and silver going up up up. Fat Prophets are on this one too. ML give this its highest rating and target $3.40. 

Don't own, but might just have to.


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## Sean K (6 November 2006)

Struggling with $2.80 now. Breakout through there. On the close watch list.


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## vert (6 November 2006)

not to far way i reckon kennas, just noticed in the last half hour the bids starting to stack up a bit more, i still want some more around the $2.70 mark, dont like my chances at the moment.


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## vert (7 November 2006)

quick question, over the last week or so i have been watching the course of sales and noticed someone is buying amounts of 364 shares at a time around the 2.70 price range, any clues to who this may be?


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## Sultan of Swing (7 November 2006)

vert said:
			
		

> quick question, over the last week or so i have been watching the course of sales and noticed someone is buying amounts of 364 shares at a time around the 2.70 price range, any clues to who this may be?




Do you think they're buying one for every day of the year except for Christmas Day or there birthday maybe?


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## GRIZ (10 November 2006)

Hi all,
       Good volume & brocken above $2.80 at last, I Know there all (LHG,BDG,DOM,BGF,SGX) up today, but BSG does have a nice looking chart.

                                                 Have a good weekend,  GRIZ.


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## scsl (10 November 2006)

Currently at $2.83, up 15 cents (5.6%).

It's risen 4 cents in the last half hour, going past the $2.80 mark.


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## Sean K (10 November 2006)

Looks very good.

I haven't picked any up yet. A hold above $2.80 and good PM markets over the weekend and I'll probably try and get some early Monday. 

Looks like a monty to keep pushing on, but it's no certainty. But, what is?


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## zed327 (10 November 2006)

This is as close to a dead cert as you can get Kennas. They found silver just building the road out to the mine site. In a months time people will be kicking themselves for not jumping on the silver bandwagon. Silver $15 very soon.


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## Out Too Soon (12 November 2006)

I've held Bolnisi since April, thinking about getting some more but wondering how much the sp reflects the value of the co. next year when production starts rather than now.  
Not knocking it, just wondering although the chart cert' looks like it's ready to run some more.


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## Sean K (12 November 2006)

I've been doing a little research this weekend to see the value in Bolnisi and the potential upside, and especially what is going to push it through this barrier around $2.80, and I've come to the conclusion that I'm not really sure what it is.   

The market knows the value of what they have in the ground in Palmerejo (3.6 m oz au equiv) plus their other projects, and it only looks like the company is hoping to increase this resource estimate to around 4 m oz au equiv. (Market was hoping for 5m oz) The only real major driver that I can see is a potential takeover by one of the majors. Palmerejo goes into production sometime in 07 (can't find a date) and is going to be producing quite a bit of gold and silver. Would seem to be to be an easy picking for one of the big players (Newmont, Barrick) to take it over. Perhaps that sort of a wisper will send it flying?

Other than that there is the POG and POS, which seem to be heading up. Perhaps that will be the driver. 

Whatever the case, on the chart alone, one to watch very closely.


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## zed327 (13 November 2006)

Palmerejo starts up at the end of 2007 - early 2008. A lot more drilling happening over the next 12 months which should increase those reserves.


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## Sean K (13 November 2006)

Looks to have broken through. @ 2.90 atm. 

I'm in. 

Still concerned about general market pullback however. Will exit if it doesn't keep going.


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## scsl (13 November 2006)

kennas said:
			
		

> I've been doing a little research this weekend to see the value in Bolnisi and the potential upside, and especially what is going to push it through this barrier around $2.80, and I've come to the conclusion that I'm not really sure what it is.
> 
> The market knows the value of what they have in the ground in Palmerejo (3.6 m oz au equiv) plus their other projects, and it only looks like the company is hoping to increase this resource estimate to around 4 m oz au equiv. (Market was hoping for 5m oz) The only real major driver that I can see is a potential takeover by one of the majors. Palmerejo goes into production sometime in 07 (can't find a date) and is going to be producing quite a bit of gold and silver. Would seem to be to be an easy picking for one of the big players (Newmont, Barrick) to take it over. Perhaps that sort of a wisper will send it flying?
> 
> ...



kennas, so what do you think has made BSG jump so strongly today?

I'm this close to getting in... At what price will you exit if you don't mind me asking? I think BSG is well worth getting into, provided the POG steadies or keeps going higher, and also that the pullback in resources stocks doesn't bring gold stocks down with it.


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## Sean K (13 November 2006)

scsl said:
			
		

> kennas, so what do you think has made BSG jump so strongly today?
> 
> I'm this close to getting in... At what price will you exit if you don't mind me asking? I think BSG is well worth getting into, provided the POG steadies or keeps going higher, and also that the pullback in resources stocks doesn't bring gold stocks down with it.




Gold is up this am, back over $630, but all the other goldies are down?? So, can only mean expectations of a takeover perhaps? This is a purely technical play atm. 

Should be support at $2.70, so I think a stop about $2.65ish. Will change this according to the sp over the coming days.


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## Sean K (13 November 2006)

I might get stopped out today!

Fallen from $2.91 to $2.83 quite quickly. Hope it holds above $2.80.   

I might have to review this plan.......


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## Freeballinginawetsuit (13 November 2006)

BSG is a fast mover both up and down. If this is the start of a correction Kenna's I wouldn't be holding.


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## Sean K (13 November 2006)

Freeballinginawetsuit said:
			
		

> BSG is a fast mover both up and down. If this is the start of a correction Kenna's I wouldn't be holding.



I agree. Hoping it's not a gold and silver correction.


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## Sean K (13 November 2006)

Well, it's held above $2.80 but today was not the day I had expected. Gold is up, silver only just off, technically this was going.........But, the rest of the market got in the way I suppose. General negative sentiment. I might be out tomorrow, if this is the 'correction we have to have', and live to fight another day....See what tonight has in store. Maybe there will be a bounce?


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## Kauri (13 November 2006)

It may be that she is fighting against recent significant highs, also may be a longer term triangle in play??


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## zed327 (14 November 2006)

Probaly a bit weaker today due to the small fall in the silver price. Will be my longer term hold as we watch the debt laiden Yank dollar come crashing down.


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## Sean K (14 November 2006)

Hit $2.91 and came off again. Holding above that past resistance level turning into support. Looking ok so far. Early days.


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## Sean K (15 November 2006)

Good day yesterday for BSG.

Tested $2.80 and bounced back finishing at $2.90, looking at all time highs now. I love it when a plan comes together.   

Gold off a bit overnight, but holding above support at $620, for the minute. That might keep BSG above $2.85 hopefully. 

Anyone else on this, or am I talking to myself?


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## new girl (15 November 2006)

kennas said:
			
		

> Good day yesterday for BSG. Anyone else on this, or am I talking to myself?





Kennas

Can't help you there, but my broker is very keen on it.

What I would appreciate is your advice on this. I sold 20% of my CTO shares which I mostly bought @15c and got BSG instead, out of the two which do you think is a better investment in the next 3-6 months?

Many thanks


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## Sean K (15 November 2006)

new girl said:
			
		

> Kennas
> 
> Can't help you there, but my broker is very keen on it.
> 
> ...



Interesting question.

BSGs main game is Palmarejo which has returned outstanding gold and silver results. A resource of 3.1 million ounces gold equivalent (972,000 ounces of gold and 136.6 million ounces of silver) has been delineated. The Company is planning a 2 million tonne per annum development with production scheduled for early 2007. The other projects are pretty immature I think but look to have potential. 

So, it's about to start production, but doesn't have much there by world scales, but it's a pretty good resourse.

(Compare the resource and market cap of this with Kings Minerals KMN who have 11m oz au equiv also in Mexico - KMN is probably better!)

CTO of course are sitting on a total of 10 m oz au. Their exploration and studies to date have led to the conclusion that the overall Charters Towers goldfield, has the exploration potential to contain up to *50 million ounces* of gold. They seem to think they can do this!   

The problem I see with CTO is that the gold is spread all over the place. They're going to have to build quite a few mines to get it all out. Having said that logistics will be centralised so that will be ok I suppose. The first mine off the rank is Warrior and it looks to be all on schedule. 

Summary, both mave big potential, might just be which management come through with the goods. Don't know enough about them in that regard. So, on the numbers there may be more potential in CTO? 

I own BSG now and am looking for a chance to buy KMN. It's run hard recently. CTO has broken up, and I will be picking some of that up too. Maybe right now.


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## zed327 (15 November 2006)

Looking strong today considering gold and silver was dissapointing last night.Maybe some technical buying on yesterdays finishing price.I know it's a no no but i've got 75% of my portfolio in bsg. Got that gut feeling.


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## new girl (15 November 2006)

kennas said:
			
		

> Interesting question.
> 
> BSGs main game is Palmarejo, it's about to start production, but doesn't have much there by world scales, but it's a pretty good resourse.
> 
> Summary, both mave big potential, might just be which management come through with the goods. Don't know enough about them in that regard. So, on the numbers there may be more potential in CTO?





Interesting answer, thanks 

My understanding is that BSG has a good chance of a take over, which should be very good for its price. Management wise, my broker prefers BSG's. However, the new non-exec. Director of CTO, Terence Willstead is supposed to be very good.

I'm tempted to attend the AGM for CTO later this month in Sydney, if there will be anything worth mentioning I'll let you know.


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## Sean K (15 November 2006)

new girl said:
			
		

> Interesting answer, thanks
> 
> My understanding is that BSG has a good chance of a take over, which should be very good for its price. Management wise, my broker prefers BSG's. However, the new non-exec. Director of CTO, Terence Willstead is supposed to be very good.
> 
> I'm tempted to attend the AGM for CTO later this month in Sydney, if there will be anything worth mentioning I'll let you know.




Anything with more than 2m oz and at an advanced stage of development is a TO candidate am. I've heard the BSG rumours too. 

The Chairman of PSV said in his adress today that he thinks that it is 'inevitable' for NCM to be swallowed up leaving PSV as the largest producer left in Australia...Odd for a CEO of a company to be saying that about another, but it's a sign that all are expecting some major corporate plays in the gold sector.


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## Sean K (15 November 2006)

Almost hits a record ($2.97) and then falls back to $2.90. Traders seeing the potential resistance and dumping. Damn it!!! Might need gold to go to $640 or an ann to break through there.


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## Out Too Soon (15 November 2006)

One of my last resources, bought @ $2.87 in April & still holding. Have reread the annual rep a no. of times & love the prospects of this co. Haven't put a stop loss on this & dont intend to, holding for year at least, maybe 2008. Think this is much better prospect than dodgy overhyped uranium, or over heated (atm) zinc.


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## new girl (16 November 2006)

Out Too Soon said:
			
		

> Have reread the annual rep a no. of times & love the prospects of this co.





Out too soon,

So much passion for annual reports  I'm interested to hear from you what you find boring? I hate them personally.

I'll send you the latest from the AGM coming up later this month.


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## Sean K (16 November 2006)

Cracked $3.00, on to all time highs. Blue sky ahead. Gold down slightly. Good karma for BSG.   

Expect some profit taking this avo perhaps and some consolidation. Really needs to hold above $3.00 for a couple of days for this significant breakthrough to be start of new phase upward.


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## simoncar (16 November 2006)

LOts of blue sky ahead!!!  BSG has been in a macro triangle pattern. Started around mid FEB 2006 and has just broken through today. By triangle pattern prediction it should at least reach $4.60.


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## new girl (16 November 2006)

simoncar said:
			
		

> LOts of blue sky ahead!!!  BSG has been in a macro triangle pattern. Started around mid FEB 2006 and has just broken through today. By triangle pattern prediction it should at least reach $4.60.




Hi Simoncar,

Is there a time frame for your prediction?

Thanks


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## Sean K (16 November 2006)

new girl said:
			
		

> Hi Simoncar,
> 
> Is there a time frame for your prediction?
> 
> Thanks



IMO you can't predict price target time frames using simple charting such as pennants, triangles etc, but the price targets can be roughly guessed. Would like to know how you got that price Simon?

Only Wavetheories and Gann can do timeframes.


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## zed327 (16 November 2006)

The old gut feeling is working well, YIPPEEEEEE!!!!!!!!!!!


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## Sean K (16 November 2006)

More great intercepts out of Palmarejo. This has driven it this am I reckon.

Looking good in Mexico. Hopefully there QLD projects can provide some upside good news to keep the sp running.


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## Kauri (16 November 2006)

Carefull though, the news has been in the market for three days already..


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## Sean K (16 November 2006)

Kauri said:
			
		

> Carefull though, the news has been in the market for three days already..



No, this was released today. New results on a different fault.


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## Kauri (16 November 2006)

kennas said:
			
		

> No, this was released today. New results on a different fault.




      The price and volume say different. Its not unusual in small mining co's, a lot of people from drillers, geo's, lab rats, etc know what is coming.


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## Sean K (16 November 2006)

Kauri said:
			
		

> The price and volume say different. Its not unusual in small mining co's, a lot of people from drillers, geo's, lab rats, etc know what is coming.



 

Ha, I was actually thinking about an ann by KMN that came out a few days ago. Or the ann on 25 Oct. I'm on painkillers, I'm a bit vague atm....

You're probably right in this case.


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## Kauri (16 November 2006)

kennas said:
			
		

> More great intercepts out of Palmarejo. This has driven it this am I reckon.
> 
> Looking good in Mexico.







			
				kennas said:
			
		

> Ha, I was actually thinking about an ann by KMN that came out a few days ago. Or the ann on 25 Oct. I'm on painkillers, I'm a bit vague atm....


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## simoncar (16 November 2006)

Hi New Girl and Kennas.   I agree with kennas you cant predict time frames. I reached my target based on the triangle (ascending) that has been forming since Mid Feb. Although on further inspection I believe it started to form in Dec 05 at around $1.00. From base at $1.00 to top at $3.00 ( a rise of $2.00)then gives us an upside projection of $5.00 ie. $2.00 added on to breakout price of $3.00. I trade these patterns very successfully all the time and have every reason to believe that if price holds at above $3.00 then we shall see $5.00 in the not so distant future.


Regards Simon


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## Sean K (16 November 2006)

Kauri said:
			
		

>




Kings Minerals is also a miner in Mehico, and they came out with some great interceptions earlier this week. For some reason I linked todays BSG ann with that one. Panadene Forte man, it's a tripper. I shouldn't have access to a buy button at the moment.


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## Kauri (16 November 2006)

simoncar said:
			
		

> Hi New Girl and Kennas. I agree with kennas you cant predict time frames. I reached my target based on the triangle (ascending) that has been forming since Mid Feb. Although on further inspection I believe it started to form in Dec 05 at around $1.00. From base at $1.00 to top at $3.00 ( a rise of $2.00)then gives us an upside projection of $5.00 ie. $2.00 added on to breakout price of $3.00. I trade these patterns very successfully all the time and have every reason to believe that if price holds at above $3.00 then we shall see $5.00 in the not so distant future.
> 
> 
> Regards Simon





    Simon..
              I've been looking at these sort of patterns for a while, with the idea of trading them in mind. If you wouldn't mind sharing, where would you have entered BSG and where would you place your stop. I seem to have most trouble with working out where to place the stop.
       Thanks


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## Sean K (16 November 2006)

Back under $3.00. This stock swings like......a big swinging thing!   

Intraday this is so volatile, best I stop watching it.


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## Out Too Soon (16 November 2006)

new girl said:
			
		

> Out too soon,
> 
> So much passion for annual reports  I'm interested to hear from you what you find boring? I hate them personally.
> 
> I'll send you the latest from the AGM coming up later this month.




Only the first part of resource co.s, (with the pretty pictures  ). As a kid (many years ago) in a rock collecting family (lapidary, agates, fossils, mineral specimens) we spent our holidays looking for rocks, opals, fossils etc etc, so I find the resource reports very interesting. Mind turns to jellow when I reach the finance part of cause. 
PS: If you have trouble finding time/ motivation to read annual reports just leave them in the toilet as I do.   :


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## simoncar (16 November 2006)

Kennas, now we have broken through $3.00 it would be a small sign of weakness if we  closed below this level. I would place a stop around $2.95 and if I got stopped out that is life. If we break through $3.00 again I'll jump on again and buy anywere up to around $3.30. The idea is to keep my losses small ( i bought at $3.05) so if it falls to $2.95 i am out with a 3.27% trade loss. If it does go North as hoped I will pocket a 66.6% win. 

Regards Simon


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## GRIZ (16 November 2006)

Hi Kennas,
             Think we sould of got out of Mexico this morning! KMN & BSG. Talk about selling on the fact. BSG did have 4 very positive days, 5's pushing it, Sould of known!


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## new girl (16 November 2006)

Out Too Soon said:
			
		

> Only the first part of resource co.s, (with the pretty pictures  )





Pretty pictures I still don't know what could possibly be more boring to read in your opinion?

back to $3


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## scsl (16 November 2006)

simoncar said:
			
		

> Kennas, now we have broken through $3.00 it would be a small sign of weakness if we  closed below this level. I would place a stop around $2.95 and if I got stopped out that is life. If we break through $3.00 again I'll jump on again and buy anywere up to around $3.30. The idea is to keep my losses small ( i bought at $3.05) so if it falls to $2.95 i am out with a 3.27% trade loss. If it does go North as hoped I will pocket a 66.6% win.
> 
> Regards Simon



Simon, have you bought anymore now that the sp is above $3.00?


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## Sean K (16 November 2006)

Record close. $3.06, off record high $3.15.   

Need a couple of days of consolidation to confirm break, although I think this was really back at $2.90.


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## simoncar (16 November 2006)

scsl, yes I have. I think bsg showed good strength today in the face of a down market today


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## sandik17 (17 November 2006)

very volotile this morning


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## Sean K (17 November 2006)

sandik17 said:
			
		

> very volotile this morning



Just a normal day in the life of BSG. Yo yo stock from hell. Can't it just stay within a 1-2% range for a day or two!!


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## new girl (17 November 2006)

kennas said:
			
		

> Yo yo stock from hell. Can't it just stay within a 1-2% range for a day or two!!




Now where is the fun in that kennas? be kind it's a lovely stock.

Another excellent announcement.


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## Sean K (17 November 2006)

new girl said:
			
		

> Now where is the fun in that kennas? be kind it's a lovely stock.
> 
> Another excellent announcement.



Yes, another great ann. This Palmajero region is like, well, a gold mine!!!


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## new girl (17 November 2006)

kennas said:
			
		

> Yes, another great ann. This Palmajero region is like, well, a gold mine!!!




Impressive analogy Seriously though, do you think the sp will survive a correction?


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## Sean K (17 November 2006)

new girl said:
			
		

> Impressive analogy Seriously though, do you think the sp will survive a correction?



It depends what type of correction IMO. Perhaps all stocks will be smashed, but if it's directly related to US inflation with $US decline and POI going up, then POG and POS should appreciate as well, therefore being positive for BSG. We haven't had a decent terrorist attack for a while, so that's a dark horse that will boost PMs out of the blue. (not that I want a terrorist attack of course.)


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## new girl (17 November 2006)

kennas said:
			
		

> It depends what type of correction IMO. Perhaps all stocks will be smashed, but if it's directly related to US inflation with $US decline and POI going up, then POG and POS should appreciate as well, therefore being positive for BSG. We haven't had a decent terrorist attack for a while, so that's a dark horse that will boost PMs out of the blue. (not that I want a terrorist attack of course.)




Come on, may be just a tiny attack where no one gets hurt  do you think that a weakening $US will balance a moderate correction or is this a stupid way of looking at it?


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## Sean K (17 November 2006)

new girl said:
			
		

> Come on, may be just a tiny attack where no one gets hurt  do you think that a weakening $US will balance a moderate correction or is this a stupid way of looking at it?



Some sectors always do better in a correction of course. There's usually a flight to quality in defensives like consumer staples. Australia companies that get their profits in $US would be weakened, especially if they were growth companies relying on low interest rates. So, in theory, it should be a case by case basis but the markets work in mysterious ways. If the world starts caving in led by the US, then gold should go ok, but maybe only in comparison to other sectors. Safest place for your money would be in the 'Buykennasayacht Diversified Super Fund' which is highly recommended by Lonsec and gets five starts from Morningstar.


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## new girl (17 November 2006)

kennas said:
			
		

> Some sectors always do better in a correction of course. There's usually a flight to quality in defensives like consumer staples. Australia companies that get their profits in $US would be weakened, especially if they were growth companies relying on low interest rates. So, in theory, it should be a case by case basis but the markets work in mysterious ways. If the world starts caving in led by the US, then gold should go ok, but maybe only in comparison to other sectors. Safest place for your money would be in the 'Buykennasayacht Diversified Super Fund' which is highly recommended by Lonsec and gets five starts from Morningstar.




You're asking me to invest my super in your superfund? Well, only if it's six stars or more and only if I get to keep the Yacht during summer (you can have it for the rest of the year of course and since it's your super fund you also get to choose a name for it).

It was a stupid question. Here I am thinking that only GOD works in mysterious ways. So in light of what you said above, how safe is BSG? and CTO for that matter? or is it simply that no one really knows?


----------



## Sean K (17 November 2006)

new girl said:
			
		

> You're asking me to invest my super in your superfund? Well, only if it's six stars or more and only if I get to keep the Yacht during summer (you can have it for the rest of the year of course and since it's your super fund you also get to choose a name for it).
> 
> It was a stupid question. Here I am thinking that only GOD works in mysterious ways. So in light of what you said above, how safe is BSG? and CTO for that matter? or is it simply that no one really knows?



Short term it's very hard to say which way things are going really. I can not say either way with gold atm because there's no definate short term trend in the POG. But long term gold could reach $1000 + (as many are claiming) so these unhedged companies about to produce should be good investments. I'm only holding gold and uranium and a couple of long termers at the moment. 

The boat is to be named Zinfandel.


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## new girl (17 November 2006)

kennas said:
			
		

> Short term it's very hard to say which way things are going really. I can not say either way with gold atm because there's no definate short term trend in the POG. But long term gold could reach $1000 + (as many are claiming) so these unhedged companies about to produce should be good investments. I'm only holding gold and uranium and a couple of long termers at the moment.
> 
> The boat is to be named Zinfandel.




That's all I wanted to hear, thank you. 

Well, I got rid of most of my shares except those two. I also kept EPG and LEG (which is due for an announcement soon and I'll sell straight after). My broker doesn't stop talking about EPG.

Zinfandel  I don't get it, please explain.


----------



## Sean K (17 November 2006)

new girl said:
			
		

> That's all I wanted to hear, thank you.
> 
> Well, I got rid of most of my shares except those two. I also kept EPG and LEG (which is due for an announcement soon and I'll sell straight after). My broker doesn't stop talking about EPG.
> 
> Zinfandel  I don't get it, please explain.



Zinfandel is a type of grape, grown commonly in California. Produces extremely full bodied red wine. Bigger than Shiraz with a very high alcohol content. Up to 17%. It's like drinking brackberry juice. Yum yum.   

Back to BSG, I've just changed the indicators in the chart and I would expect a pullback shortly just on these. Moved up out of the BB, MACD diverged and now I see a hint of convergence, Stochastics overbought, and it's moved along way away from the 200 ma. All indicating a pull back to some degree.   Just probabilities though, and lagging time of course.

Notice the similatities between now and the last few tops and pullbacks.


----------



## new girl (17 November 2006)

kennas said:
			
		

> Zinfandel is a type of grape, grown commonly in California.




You should name it Rach and surprise her (great name by the way).


----------



## Sean K (17 November 2006)

Great finish for the week. Up 10% when POG and other resources went pear shaped.


----------



## zed327 (20 November 2006)

Sonray are saying there is rumour of Canadian interest in bsg. Bring it on!!!!!!


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## Sean K (27 November 2006)

Reading through their AGM presentation this morning I found some potential upside with the 'iminent' release of a resource estimate for La Patria which has had some great drill results. This should increase their overall resource estimate to over 4m oz Au equiv maybe. Looking forward to that!


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## new girl (28 November 2006)

Although there was no boat waiting for me at the end of this AGM, I walked out very impressed with the presentation. Very professional group of people!

When asked about possible sale of Palmarejo mine, the Chairman replied by saying that for tax reasons, the only way they would allow this to happen is if Bolnisi itself got taken over and that the company is constantly approached to do so.


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## Sean K (29 November 2006)

BSG mentioned in the Fin again this am as a possible takeover mostly due to Palmajero with the TSX entity up 10% Monday. Big jump. 

Outstanding 2 year weekly chart. Consolidation over the last few months but recently broken out extremely well. MACD looking great. Looks a little overbought at the moment but should find very good support at previous resistance and will be a buying opportunity if it approaches that level again IMO.


----------



## zed327 (29 November 2006)

It will be interesting to see if it holds at this price. A rescource upgrade would help. A nice healthy takeover offer would make my xmas hamper look very nice. I like to dream a lot.


----------



## Sean K (29 November 2006)

zed327 said:
			
		

> It will be interesting to see if it holds at this price. A rescource upgrade would help. A nice healthy takeover offer would make my xmas hamper look very nice. I like to dream a lot.



Two very likely scenarios Zed. I expect the La Patria estimate to be out in the next week or so, increasing their overall resource in the region and with this turning producer next year, there must be many a big gold miner looking at this as a good bolt on.


----------



## Out Too Soon (29 November 2006)

So much can change so quickly!  What on earth happened today, I was away & rxed a SMS alert that Bolnisi sp is in free fall.


----------



## scsl (29 November 2006)

Out Too Soon said:
			
		

> So much can change so quickly!  What on earth happened today, I was away & rxed a SMS alert that Bolnisi sp is in free fall.



Yeah, BSG's 5% slide (at one stage 9%) in sp stood out in comparison to LHG and NCM, which rose 4% and 5% respectively. And on a great day for the market in general, which was up 1.2%. I think we can put it down to good old profit-taking.

If BSG finds support at about the $3.00 level kennas showed on his chart, I will be buying.


----------



## Sean K (30 November 2006)

scsl said:
			
		

> Yeah, BSG's 5% slide (at one stage 9%) in sp stood out in comparison to LHG and NCM, which rose 4% and 5% respectively. And on a great day for the market in general, which was up 1.2%. I think we can put it down to good old profit-taking.
> 
> If BSG finds support at about the $3.00 level kennas showed on his chart, I will be buying.



Agree, profit taking. Had a great run since breaking resistance at $2.70 (my entry, he he   ) and then all time high $3.00. People may have been switching into NCM or LHG or others. 

Yesterday high $3.43 and low $3.04 must have been scary to watch. I was out all afternoon on a pub crawl through Port Melbourne and St Kilda so missed it. Sore head...


----------



## Sean K (5 December 2006)

BSG just having a rest I think from the recent great run. Should find support at the old all time high around $3.00. Looking at the indicators: BB, MACD, Stochastics into the overbought area - can only continue up in that zone for so long. Now slow stachastics moving into oversold at the time when the sp reaching support line which may support a bounce back up. Still trending well up, in the zone. Would have to break about $2.70 to be on the way down again, pending other factors. Will be interesting to see how it responds to the $3.00 level. Still need POG and POS to keep going up to I suppose. 

Fundamentals no change.


----------



## new girl (5 December 2006)

kennas said:
			
		

> BSG just having a rest I think from the recent great run. Should find support at the old all time high around $3.00. Looking at the indicators: BB, MACD, Stochastics into the overbought area - can only continue up in that zone for so long. Now slow stachastics moving into oversold at the time when the sp reaching support line which may support a bounce back up. Still trending well up, in the zone. Would have to break about $2.70 to be on the way down again, pending other factors. Will be interesting to see how it responds to the $3.00 level. Still need POG and POS to keep going up to I suppose.
> 
> Fundamentals no change.




Thank you kennas for taking the time.


----------



## Sean K (7 December 2006)

I imagine the stochastics indicate this is oversold now and hitting $3.00 support line. *Probably *should bounce off this, but who knows..Those two bottom support trend lines should help.


----------



## vert (8 December 2006)

i think a few stops got taken out this am, in bargain teritory now with silver reversing nicely last night from 13.42 to 13.89. bought back in yesterday 3.02 should have waited oh well still happy to be in as this has huge potetial with drilling finding richer and deeper grades and is being assessed by larger preditors.


----------



## Sean K (8 December 2006)

vert said:
			
		

> i think a few stops got taken out this am, in bargain teritory now with silver reversing nicely last night from 13.42 to 13.89. bought back in yesterday 3.02 should have waited oh well still happy to be in as this has huge potetial with drilling finding richer and deeper grades and is being assessed by larger preditors.



Yeah maybe. Has recovered ok from the daily low, but perhaps it could even get back there? I'd be surprised if this broke out of the general up trend with the project coming on line next year and t/o rumours. Still just a pullback in general uptrend atm. Was overbought, as stated, when it was up around $3.50. This was expected.


----------



## Sean K (11 December 2006)

I'd expect some support for BSG at these levels. Could go a bit lower to get back on the trend line up. Interesting the daily and weekly stochastics differ in their opinion. Daily saying oversold, weekly saying there's some to go, so be prepared. Disappointing it didn't kep going verticle after the break through $3.00 but this just been a healthy break in an long term uptrend imo. I'm hoping that the $3.00 ish level is going to form into long term support now. If it breaks up again from here than that is very good. I think about $2.50 and I'd have to consider if the uptrend had been broken.


----------



## Sean K (18 December 2006)

kennas said:
			
		

> I'd expect some support for BSG at these levels. Could go a bit lower to get back on the trend line up. Interesting the daily and weekly stochastics differ in their opinion. Daily saying oversold, weekly saying there's some to go, so be prepared. Disappointing it didn't kep going verticle after the break through $3.00 but this just been a healthy break in an long term uptrend imo. I'm hoping that the $3.00 ish level is going to form into long term support now. If it breaks up again from here than that is very good. I think about $2.50 and I'd have to consider if the uptrend had been broken.



Support was found at $3.00 and it has been today on a down day for POG. So, hopefully POG recovers a little and $3.00 remains in tact for further gains. Hitting the lower band of the bb and bounced as it should also. I think the slow stochastics on this chart is incorrect. It has been sold off recently but it's not represented here.


----------



## Sean K (22 December 2006)

Failed at $3.00. Tried it's hardest but just couldn't hold on. Now maybe heading to around the next support line at $2.75 ish which will also be about the long term trend line. Hope this helps.......Still holding.


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## scsl (2 January 2007)

Bought today at $3.08. I think the POG could continue to appreciate in the near term and pull up gold stocks with it.

What do you think of BSG atm kennas? Having bounced off the long term trend line (you mentioned in your last post) and now holding above $3.00, what do we need (apart from POG rising) to see BSG pass its end of November high?

POG now trading at $640.50...


----------



## Sean K (3 January 2007)

scsl said:
			
		

> Bought today at $3.08. I think the POG could continue to appreciate in the near term and pull up gold stocks with it.
> 
> What do you think of BSG atm kennas? Having bounced off the long term trend line (you mentioned in your last post) and now holding above $3.00, what do we need (apart from POG rising) to see BSG pass its end of November high?
> 
> POG now trading at $640.50...



I reckon upside will be from:

1.The final feasability study which was due in Dec 06, but I haven't seen it yet? This was supposed to move the resource to proven and probably ore reserves.
2. POG which I think will increase although be volatile.
3. Takeover - the company comes into production within 12 months and the TSX listed Palmejero Silver and Gold is at a discount relative to BSG and US listed peers. 
4. Possible increase in the 3.6+m oz au equiv due to ongoing drilling in the project area.


----------



## Sean K (4 January 2007)

kennas said:
			
		

> I reckon upside will be from:
> 
> 1.The final feasability study which was due in Dec 06, but I haven't seen it yet? This was supposed to move the resource to proven and probably ore reserves.
> 2. POG which I think will increase although be volatile.
> ...




I forgot, the other imminent upside potential for BSG is the release of a resourse estimate for the La Patria deposit 6.5 km SE of Palarejo. This is due NOW. 

Also, exploration drilling continues at El Realito with some good grades so far. More to follow.


----------



## Sean K (8 January 2007)

Well POG has smacked all the goldies this am, of course. Once it had held through $640 I thought that would be the resumption of the uptrend. I suppose in the end it only held above that level for a day or a few hours, which means it didn't 'hold' above.  

BSG has broken through some support at $2.80ish and also recent up trend line. 

Fundamentally nothing has changed in this stock though, I just wonder if gold is going to hold above $600? If not there will be some more downside I suppose....


----------



## panem (16 January 2007)

I have to admit:

Good grades.

But 450 Mio â‚¬?

Deep drilling shows further high grades at G.

Interesting.


----------



## Absolutely (16 January 2007)

Anyone been able to read the announcement yet - returned to trading but the announcement wont open for me either on ASX or Comsec.


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## Moneybags (16 January 2007)

Absolutely try again thru ASX announcement page.........I got thru with no problems

MB


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## Sean K (16 January 2007)

panem said:
			
		

> But 450 Mio â‚¬?



What's this mean panem?


----------



## Absolutely (16 January 2007)

For some reason this announcement is killing my system every time I try and open it.


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## Absolutely (23 January 2007)

BSG going south despite the gold price seemingly holding up at the moment.

Recent announcements weren't disappointing - at least I didn't think so, but then, what do I know?

Where is it going to I wonder and why ?


----------



## Out Too Soon (24 January 2007)

No reason that I'm aware of for the sp drop, the last time the sp made a fool of Kennas chart was last june & then it rebounded big time. They should be mining this year (from memory I think that's right), so I think right now is a great buying opportunity.  

Of cause I could be wrong. :


----------



## Out Too Soon (30 January 2007)

It would seem that mining doesn't start 'til early 2008 rather than mid 2007 as prev mentioned in last yrs ann report. 
Hardly a big enough shock or disapointment to explain the falling sp. I think the further it falls the better value it will be & will be getting more when it bottoms. Just have to be a little more patient, a 6 month set back is hardly unusual in this industry.


----------



## Halba (30 January 2007)

Does it really matter mid 2007 or early 2008? The gold price/silver price seems pretty stable and attractive to new producers like BSG. BSG have good properties in prime areas and are steadily growing their resource base, now up to 3.5mOZ Eq of gold. Soon 4m OZ might be attacked.


----------



## Out Too Soon (1 February 2007)

AAARRRGGGHHH!!, so much for waiting for it to bottom to buy some more, just bounced up 14c.   
Oh well, makes what I'm already holding look a bit healthier.  
I'd love to get Kennas perspective on this but he's off traipsing around Mexico!, Lucky bugg@r.


----------



## Sean K (23 February 2007)

Interesting Macquarie taking 6% a few days ago. Gotta be positive.

Starts mining mid year.
Total 3.6m oz au equiv.
Resource to be upgraded with additional drilling completed.
Projects open along strike and depth.
Nearby exp targets yet to be drilled.
Total resource could stretch 5m oz au equiv IMO.
No debt.
No hedging.

Just breaking $3.00 resistance as part of ascending triangle.
MACD momentum confirming up.
Gold going higher....

(holding a few)


----------



## Rafa (23 February 2007)

this stock has caught my eye recently...
especially with the annoucements re macquarie...

i have decided to put my money in this one, as opposed to LHG...
this is my only gold holding at the moment (unless OXR counts)


----------



## Out Too Soon (23 February 2007)

Hi Kennas, I suppose you were way to busy at the cantinas on those beautiful beaches to go visit Bolnisi. (You could have claimed your trip as an expense!!)  
Hope you had fun anyway, I'll have to check your Blog again.


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## Sean K (23 February 2007)

Out Too Soon said:
			
		

> Hi Kennas, I suppose you were way to busy at the cantinas on those beautiful beaches to go visit Bolnisi. (You could have claimed your trip as an expense!!)
> Hope you had fun anyway, I'll have to check your Blog again.



I could still probably claim it, but I went on FF points anyway. Just had to pay the taxes....Great trip. Will certainly be back again.


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## Rafa (23 February 2007)

from DJ News

 1151 [Dow Jones] Bolnisi Gold (BSG.AU) up 6.8% at A$3.14, hits 2-month high of A$3.16 amid strength in gold prices and takeover speculation on Lihir Gold (LHG.AU). Merril Lynch and Tolhurst recently reiterated buy recommendations, with price targets of A$3.75 and A$4.00 respectively. Chart shows near perfect bull flag pattern with conservative target of A$3.25, aggressive target of A$3.40. Resistance A$3.15. Support A$3.03. (DWR)


Kennas, does any of this make sense...?


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## Sean K (23 February 2007)

Rafa said:
			
		

> from DJ News
> 
> 1151 [Dow Jones] Bolnisi Gold (BSG.AU) up 6.8% at A$3.14, hits 2-month high of A$3.16 amid strength in gold prices and takeover speculation on Lihir Gold (LHG.AU). Merril Lynch and Tolhurst recently reiterated buy recommendations, with price targets of A$3.75 and A$4.00 respectively. Chart shows near perfect bull flag pattern with conservative target of A$3.25, aggressive target of A$3.40. Resistance A$3.15. Support A$3.03. (DWR)
> 
> Kennas, does any of this make sense...?



It's poorly worded isn't it. 

Price target:
BSG $3.75
LHG $4.00

I don't know how they've plucked those. Pretty sketchy extentions of the rapid rises to consolidation. Works better for LHG than BSG. Odd.

The last sentance is about BSG I think. There will be some resistance at $3.15 and then all time $3.25 ish. Support may be established at $3.00 ish, but I thought that last time it went through in Nov 06. It failed obviously. $3 needs to be tested and proved to be validated.


----------



## Rafa (26 February 2007)

Shot thru 3.15 with ease...
Now for the all time high close of 3.34, and the all time intraday high of 3.43....


----------



## Rafa (27 February 2007)

Holding 3.15 so far...
This may need to turn into a solid base in the next few days before it can continue on.


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## Sean K (1 March 2007)

*Bolnisi Looks Attractive*
FN Arena News - March 01 2007 

By Greg Peel

While projects may be scarce in Australia, Australian (and Canadian) listed gold and silver miner Bolnisi Gold (BSG) is sitting on significant reserves in Mexico – specifically at Palmarejo in Chihuahua, but also in other sites. First production at the 74% owned Palermejo site is expected in early 2008.

Bolnisi has underperformed precious metal prices in the recent run-up which analysts at Shaw Stockbroking attribute to Palermejo being only in the construction phase. "However, we believe that the resource base will continue to grow with a resource upgrade expected around mid-2007".

There is also interest in Bolnisi's Guadalupe mine from both Shaw and Merrill Lynch (being the only broker in the FNArena database to cover the stock).

Shaw notes geological indicators at Guadalupe suggest drilling to date has only tested the upper levels of the mineralised system. This strongly indicates Guadalupe has the potential to grow considerably with deeper drilling which is currently under way. A resource in excess of 1Moz is "quite likely", says Shaw.

Bolnisi reported a loss yesterday, as was expected of a company pursuing development. While Merrill Lynch pared back their FY08 profit forecast by 14% due to higher costs, the analysts note that at 1.4x NPV Bolnisi is cheap compared to US peers at 2.0x or more.

Merrills expects earnings growth to be significant in the coming years with further upside provided by exploration. While Bolnisi may need more funds down the track the company is virtually debt free.

Merrills rates the company as a Buy (high risk) with a target of $3.75. It closed today at $2.83. Merrills also notes Bolnisi's "strong corporate appeal".

And this is probably the real driver of Bolnisi's value. A quality asset such as Palmerejo in a stable country like Mexico is like…well…gold. With very few significant projects left in the world, gold miners are scrambling to acquire anything to secure future growth.

Shaw notes that "history has shown that large medium/high grade precious metal projects are usually taken over by the global majors". As a comparison, Shaw refers to the takeovers of Plutonic Resources and Normandy NFM at A$1.2 billion and A$1.4 billion. Their reserves were of similar grade and size as Bolnisi, and those takeovers occurred when gold was half the price it is now and silver one third.

Yet Bolnisi's current enterprise value is A$857m and Shaw is only attributing A$1.2 billion as a valuation which it suggests "looks quite conservative". Shaw rates Bolnisi as a Buy (L/T Outperform) with a target of $4.00.


----------



## Rafa (1 March 2007)

makes for good reading...
i quite like this stock, but i think patience may be the key... espcially after the 'global' events of the last few days


----------



## Out Too Soon (2 March 2007)

Rafa said:
			
		

> makes for good reading...
> i quite like this stock, but i think patience may be the key... espcially after the 'global' events of the last few days




Must admit to taking profits at 3.24 but got back in yesty morn, wish I'd waited a little longer now. What gos round comes round though. The main thing is I'm back in for when the gold & silver starts to flow.


----------



## Out Too Soon (9 March 2007)

Anyone know why Bolnisi has been hit so hard? Doesn't make sense to me,   I'm thinking of putting my last few pennies into BSG at this sp, is there something I missed?


----------



## Rafa (9 March 2007)

yeah, been thinking the same thing,
but everywhere i look, i can't seem to find a reason...

maybe cause its not a producer yet...


----------



## Sean K (9 March 2007)

I sold out on what I thought was the market dead cat 2 days ago. Sold just about everything actually. Waiting for some direction now.


----------



## Freeballinginawetsuit (9 March 2007)

Out Too Soon said:
			
		

> Anyone know why Bolnisi has been hit so hard? Doesn't make sense to me,  I'm thinking of putting my last few pennies into BSG at this sp, is there something I missed?





I got taken up at $2.66 today OTS, lets see what pans out.....BSG is a great gold play IMO and a fast mover amongst the goldies when it gets up a bit of momentum!. 
Seems to have found a bit of support around $2.60 ish this time around


----------



## Out Too Soon (9 March 2007)

Well I'm still holding but I'm down almost 10%  , I can't see why it's been punished, I just glanced through the half yearly report - 31 pages ASX release on 28th & all looks very exciting, nearly ready to start, no hidden nasties that I can find. Seems ridiculous when a glowing report sent the sp up to 3.25 just over a week ago. Just watching now I think I'll have to get some more.

Ours is not to reason why, ours is just to invest & profit!


----------



## Freeballinginawetsuit (9 March 2007)

Thats not a bad position taken up by a BSG Director off market.......1.3 mil>500,000 shares@ approx $2.60 SP!.


----------



## Out Too Soon (9 March 2007)

Freeballinginawetsuit said:
			
		

> Thats not a bad position taken up by a BSG Director off market.......1.3 mil>500,000 shares@ approx $2.60 SP!.




SHHH!


----------



## Rafa (9 March 2007)

yeah, this could be one of the hidden gems...
macquarie is in too...

i'm down 10% as well, but i am holding,
should really increase my stake, but i am not sure on this market at the moment...

they say falls come in three's so maybe there is another fall to come...
and then i can add at a lower price, but i think your right in that there is some support at 2.60!


----------



## Jadefox (9 March 2007)

Out Too Soon said:
			
		

> Anyone know why Bolnisi has been hit so hard? Doesn't make sense to me,   I'm thinking of putting my last few pennies into BSG at this sp, is there something I missed?




Perhaps it's due to the failure of gold and silver to break higher/subsequent decline - sentiment damaged and PM's expected to remain weak for a while.
Just my 2 cents.


----------



## Out Too Soon (9 March 2007)

Not fair that a bloke with a million laying around spare can grab it 10c cheaper than me but anyway, that's the haves & have nots.
Just bought my biggest parcel of anything ever $8k, wish me luck or the wife will kill me.  .


----------



## Sean K (9 March 2007)

Out Too Soon said:
			
		

> Just bought my biggest parcel of anything ever $8k, wish me luck or the wife will kill me.  .



Good luck OTS!   Medium to long term it's a good stock. You still might get some short term volatility, but concensus seems to be that gold is heading further north.


----------



## Rafa (19 March 2007)

What is everyone opinion on the last announcement, the market certainly liked it, but can this be sustained?


So far today, its holding up OK...


----------



## Out Too Soon (19 March 2007)

kennas said:
			
		

> Good luck OTS!   Medium to long term it's a good stock. You still might get some short term volatility, but concensus seems to be that gold is heading further north.




Thanks Kennas, already out at a nice little profit, itching to get in again.  
Mind you I have a smaller parcel which is longer term (cause it's red  ) . I'll be kicking myself if I'm not holding when this gos ballistic tho.


----------



## Out Too Soon (19 March 2007)

Rafa said:
			
		

> What is everyone opinion on the last announcement, the market certainly liked it, but can this be sustained?
> 
> 
> So far today, its holding up OK...




Just confirms my opinion that the resource is bigger and better & will continue to expand as work progresses. If you look at the geological maps in there annual report you can see that there is a lot of probable upside to there holdings & that's why every time I get out I get back in.   More fool the people who sold under 2.70


----------



## Freeballinginawetsuit (19 March 2007)

Out Too Soon said:
			
		

> Thanks Kennas, already out at a nice little profit, itching to get in again.
> Mind you I have a smaller parcel which is longer term (cause it's red  ) . I'll be kicking myself if I'm not holding when this gos ballistic tho.




Good to see you did well OTS. 

Still holding my position in the trade, price action has been strong of late in BSG and I can't see my stop getting tested........well maybe if 'Chicken Little' forecasts eventuate!.

Still I'm convinced BSG is a good longtermer and I'm bullish on gold so I might loosen the stop, or not bother.... if the market stabilizes!.


----------



## Out Too Soon (21 March 2007)

Freeballinginawetsuit said:
			
		

> Good to see you did well OTS.
> 
> Still holding my position in the trade, price action has been strong of late in BSG and I can't see my stop getting tested........well maybe if 'Chicken Little' forecasts eventuate!.
> 
> Still I'm convinced BSG is a good longtermer and I'm bullish on gold so I might loosen the stop, or not bother.... if the market stabilizes!.




I have no doubt BSG is a great longtermer.  
You prob' know my opinion of stops tho',  with a great future like BSG & a sp bouncing like a yo-yo "no stops" is a win win situation  , as I said, as long as I'm holding when it really lifts off.  

(Please don't any newbies take too much notice of my position on stops. It all depends on your trading style)


----------



## Freeballinginawetsuit (22 March 2007)

Past resistance for BSG around $3 ish, could struggle a bit near term around here, so have locked in profits & exited the trade.

Probably fly now .


----------



## Rafa (22 March 2007)

Glad i didn't set a stop loss, was so tempted to get out at 2.60   
Annoyed that i didn't top up when i knew i should have!   

Assuming there is no Feb 29th style crash again, BSG should return to where it was before it, i.e. 3.25ish at the very least, before heading towards its price targets set by analysts etc a month or so ago.


----------



## Out Too Soon (23 March 2007)

Out Too Soon said:
			
		

> Thanks Kennas, already out at a nice little profit, itching to get in again.
> Mind you I have a smaller parcel which is longer term (cause it's red  ) . I'll be kicking myself if I'm not holding when this gos ballistic tho.




Well "if only" I'd held a couple more days!   peaked at 3.09 now back under $3. What will happen next monday is anyones guess, I suspect The CFD mugs are the culprits for throwing the sp around so much, mind you I'm not complaining.


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## Rafa (23 March 2007)

yeah, it held up well today, considering its run from 2.60ish...


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## Out Too Soon (23 March 2007)

Rafa said:
			
		

> yeah, it held up well today, considering its run from 2.60ish...




3.25 to 2.61 & back again (almost/maybe monday). Aint volatility fun!  Lucky you didn't use a stop.


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## Rafa (23 April 2007)

BSG is getting back to where it was before 28th Feb...
Hope its not getting ready for the 30th of April!  

so far its looking holding pretty well above $3... (big buyer at 3.10)... but it needs to break 3.40 to be really promising...

otherwise we could just yo yo back to 2.60


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## Sean K (2 May 2007)

Trading halt for 2 days or until ann. Material transaction. Takeover, or buying something? Nothing esle halted at the same time, so must be an overseas player.


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## Absolutely (2 May 2007)

Sold out on this tumultuous stock just 1min before trading halt was announced. I had been expecting to get back in at $3.00 next week. Don't like my chances now.

Just my luck, can't take a trick in this game. Same happened to me with QAN. Sold out at $3.00 just before the takeover was announced. Damn.


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## Kauri (3 May 2007)

kennas said:


> Trading halt for 2 days or until ann. Material transaction. Takeover, or buying something? Nothing esle halted at the same time, so must be an overseas player.




MAY 2, 2007 - 10:53 ET Palmarejo Silver and Gold Corporation Requests Trading Halt LONGUEUIL, QUEBEC--(CCNMatthews - May 2, 2007) - Palmarejo Silver and Gold Corporation (TSX VENTUREJO) (the "Company") announced today that it has requested that the TSX Venture Exchange halt trading in its common shares and warrants (PJO.WT) effective at the opening of trading on May 2, 2007. The Company confirms that it is in negotiations with respect to a potential business combination transaction. There can be no assurance that such negotiations will result in the announcement or consummation of a transaction. 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.


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## Sean K (3 May 2007)

1036 [Dow Jones] Bolnisi Gold (BSG.AU) remains in trading halt after 7.5% rise to A$3.30 yesterday. Some market participants believe Bolnisi will announce buyback of Canadian listed Palmarejo Silver & Gold, which is 74% owned by Bolnisi. In a minesite.com interview on March 22, CEO Norm Seckold said he was looking at the structure, that some "disconnect" has developed in the valuations assigned to Palmerjo and Bolnisi, that the structure may have served its purpose, and it was perhaps time to "simplify" things. While comments are highly suggestive of a plan to buy back the Canadian listing, some in the market continue to expect a takeover bid. "I'm hearing it's a bid," said senior institutional trader at major European brokerage. Bolnisi officials currently unavailable for comment. (DWR)


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## Sean K (4 May 2007)

9% premium for BSG holders in the merger deal is pretty ordinary. I suppose the upside is that this new company is going to be quite a big player. Still, there was always a thought that there would be a 'proper' takeover of BSG, and this is not what I had in mind when I was an owner.


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## Out Too Soon (10 May 2007)

Glad I'm not holding at present, fair thing would have been to ask the share holders what they thought first. Holding or not I was still very happy with Bolnisi, new it inside out & ready to be a holder again. Now it's this big French concern with mines elsewhere,   just not the same at all. Is BSG still going to be listed as such? I'll have to learn all about the new co. but-, it'll never be the same again -


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## Rafa (11 May 2007)

i was regretting selling this one for 3.15, espcially when they went into a trading halt the day after!!!  but not anymore...


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## Absolutely (11 May 2007)

well I was regretting getting out at $3.29 ! Not any more ! Directors have stuffed up on this one.

May look at getting back in - see how it goes.


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## fleathedog (12 May 2007)

Palmarejo will be Coeur's flagship project and directors are trying to hand it to them on a silver platter!! They should have at least got a better deal for BSG shareholders. 

There is very little benefit I can see from merging the 2 companies. Their Alaska project is maturing, and while the Bolivian mine looks ok, the political situation there looks pretty grim. Basically Coeur are getting a much better deal than BSG.

Good luck everyone! I don't have a good feeling about this though...


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## refined silver (3 December 2007)

Wow! I had to trawl back to page 18 to find this stock!

No posts for 6 months on what will be the biggest primary silver miner in the world??

To answer previous questions on why no premium for BSG? The reasons are BSG valued quite highly for its resources ans still close to all time highs, CDE still trading over 50% drop since May 06 highs. The deal values both companies similarly which is pretty fair for BSG since CDE is a major producer, BSG a developer, and CDE has more resources. 

Have been in BSG since 29c, sold out some, but have a long term core position which I'll hold for a lot longer.


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## refined silver (4 December 2007)

Today, the shareholders approved the merger with CDE, should be finalised by the end of December. CDE and PJO.V to vote by Dec 7th.


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## michael_selway (10 December 2007)

refined silver said:


> Today, the shareholders approved the merger with CDE, should be finalised by the end of December. CDE and PJO.V to vote by Dec 7th.




BSG is fairly price one woudl imagine

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS -1.6 -0.5 27.0 24.0 
DPS 0.0 0.0 6.0 6.0 *




> Date: 23/11/2007
> Author: Michael Vaughan
> Source: The Australian Financial Review --- Page: 63
> Australian-listed Bolnisi Gold's shareholders will vote on a mergerproposal in December 2007. US-based Coeur d'Alene Mines is offering $A3.35per share for Bolnisi stock. The merged company would be the biggest silverproducer in the world, and its assets would include Bolnisi's Palmarejosilver and gold project in Mexico and Cour d'Alene's mines in the US,Argentina and Chile. Bolnisi chairman Norman Seckold concedes that some of hiscompany's shareholders were reluctant to support the merger at first, buthe has been in favour of it from the outset


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