# GDO - Gold One International



## RichKid (2 November 2005)

BMA Gold is a junior approaching major production milestones in the next few months, real work starts in Feb 2006.

I've entered at 26c on an ascending triangle as the recent prices have rejected lower levels on volume, I'm looking for new highs (breakout measurement) as we approach the first processing landmark in late Dec, my view is that people will enter the stock this month to get set for it. 

Downside risk is that volume is not ideal although recent vol shows there is activity and recent candle tails means support. Could be a symmetrical triangle if the next high fails lower. Any delays, hiccups, cost rises etc will stuff this up. Upside for gold will help it no doubt- I expect lots of reratings for gold stocks once 500 is hit for pog.


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## RichKid (3 November 2005)

*Re: BMO  BMA Gold*

Just checking out the recent volume spike on 28th October, probably CBA buying up (increased voting power to about 14%), so a guess would be that their analysts are bullish on BMO. I'd really like to see more vol but it's holding up ok so far.


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## RichKid (3 November 2005)

*Re: BMO  BMA Gold*

Okay, gold has taken a fall so some downside today, still okay but tomorrow will tell, gold was likely to do this so I shouldn't be suprised but let's see how it pans out. If it holds around current price should be okay, still in uptrend.


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## RichKid (11 November 2005)

*Re: BMO  BMA Gold*

Stopped out, still keeping an eye on it. Has stabilised a bit after the recent jump in pog. Looking for new patterns now.


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## bizmark (12 March 2006)

*Re: BMO - BMA Gold*

Hello everyone :aus: 

This looks like a great forum for Aussie stocks, I'm glad to join!

I have been looking for a good chart over the weekend and have found BMO. 
The short term and long term GMMA have both squeezed considerably with the general consensus from both groups being even. The MACD has formed a positive divergence. The elder ray bear has also proved bears have weakened with one tick up on Friday. Both down trends have been broken and volume has more than tripled over the last three days.






FA is quite good too with positive news coming out on Friday.
"The directors of BMA are pleased to announce a further very strong gold intersection over 7m, including a bonanza grade of 214 g/t Au over 3m. Hole THRCD875 recorded 7m @ 93.5 g/t Au, including the 3m @ 214.0 g/t Au within an intensely silicified breccia approximately 175m below the surface.The latest drill hole substantiates this interpretation and adds confidence that a good block of very-high grade mineralization is present." 

Have a great week :blaah:


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## YOUNG_TRADER (12 March 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> BMO is still my number 1 pick, although as stated stock will trade below 30cents until SPP is out of the way, so revisit it towards late March,
> 
> ARX is my number 2 pick, unloved/unappreciated Company backed by ANZ and ABMN Amro






I have been posting about this one in the Gold Sotcks thread for a few weeks now,

IMO it is the best small/mid cap emerging producer

Shares: 250m
Price: 30c-32c
Mkt Cap: $75m-$80m
Produce: 50,000oz's Au @cash costs of between $250/oz - $280/oz
Margin: (Assuming LT Gold Price $700AUD currently $720+) $400
Estimated Operating Cash Flow: $20m p.a.
Mine Life: 5yrs with expected resource increases to support 10yrs+
Resources: Approx 430,000 oz's


No debt, unhedged


Once further drilling is completed to extend the exisiting resource management plans to ramp up production to 100,000 oz's Au p.a.

Target price: 50cents 
Other: Will experience some short term overhang from SPP@28c until end of month


I challenge anyone to find a better Gold company for under $100m


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## bizmark (13 March 2006)

*Re: BMO - BMA Gold*

G'day YOUNG_TRADER  

It's always good to hear some positive FA news from someone also interested in this stock. Now all we need is another spike in gold prices to move things along nicely.

Have a great week


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## YOUNG_TRADER (14 March 2006)

*Re: BMO - BMA Gold*

Did anyone else get a call from the Company re the SPP?

Very nice of them to check up on us shareholders don't you think,


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## YOUNG_TRADER (4 April 2006)

*Re: BMO - BMA Gold*

GOld is within sneazing range of the $600 US mark,

In AUD terms its above $800,

BMO's SPP is well out of the way, and its 11day Exponetial Moving Avg has finally Crossed above the 30day Expo Moving Avg, indicating the start of an Uptrend.


Don't overlook this emerging Gold Play,


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## kgee (11 April 2006)

*Re: BMO - BMA Gold*

I see clive maund has just put out a report on BMO I was wondering if anyone has access to this? I believe his reports carry considerable weight so hopefully its positive ....which I believe it will be
cheers


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## YOUNG_TRADER (12 April 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> IMO it is the best small/mid cap emerging producer
> 
> Shares: 250m
> Price: 30c-32c
> ...





Gold pour should happen very shortly, ie within next 2 weeks, 

Gold production will be 50k-60k oz's p.a. ramping up to 100k oz's after stage 1 (6-12months)

Cash costs $290 ish in 2006, falling to $250 for the life of the operations,

@ $250 costs and AUD Gold price near $850 that gives a margin of $600/oz


50K - 60K oz's @ a marign of $600/oz = $30m - $36m p.a. cash margin

With 250m shares = 12c - 14.5c p.a. cash margins, 

Looking good, although has been a slow mover since SPP finished, I think this will be a good long termer!

(I hold)


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## kgee (13 April 2006)

*Re: BMO - BMA Gold*

Yeah it's another one backed by fat prophets as well


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## YOUNG_TRADER (13 April 2006)

*Re: BMO - BMA Gold*

Most brokers reckon it should be a 50c stock once Gold Pour is achieved, I think it will be a 60c stock after 3 months of gold pour ie July/August

And with heavy exploration drilling to define up further resources should be $1 by the end of the year, thats my thoughts and I stand by them (so long as they can increase reserves, they keep up the excellent head grades and maintain smooth operations and become cash flow positive very soon!), so time will if I'm right


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## kgee (13 April 2006)

*Re: BMO - BMA Gold*

Heres a link to hartleys report BMO
http://www.bmagold.com.au/bmagold/Hartleys Report.pdf.file?fieldId=7344


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## JustaReader (13 April 2006)

*Re: BMO - BMA Gold*

Any chance of a takeover in the short term?


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## YOUNG_TRADER (18 April 2006)

*Re: BMO - BMA Gold*

With a rising gold price, don't overlook this producer with a mkt cap of less than $100m, should be generating huge profits of around $30m or so @ spot rates,

Gold cash costs of around $250 oz with a AUD price close to $850, completely unhedged, has its own mill, has a very low tonneage high grade deposit that needs to be drilled out further to increase resource 

The funds won't overlook it for too long


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## porkpie324 (18 April 2006)

*Re: BMO - BMA Gold*

i have been watching bmo for a while, has broken above .35 resistance today so have bought some porkpie


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## YOUNG_TRADER (18 April 2006)

*Re: BMO - BMA Gold*

I think it will be a bit of a choppy ride until we pass 40c level,

However once passed am confident stock will advance welll to 60c and consolidate thre until Deposit is increased


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## YOUNG_TRADER (20 April 2006)

*Re: BMO - BMA Gold*

I can't believe how poorly this stock has performed in the past few weeks given the rapid gold price increase,

Its just like FXR I bought @ 30c and got tired of it trying to break above 42c so I sold @ 42c and then what happened? It goes all the way to 70c!!!!!!!


Well I'm ot going to do that with BMO, I am in it for the long haul, but just can't believe that it has not yet pushed above 40c!

Until we pass 40c, it will be a very choppy ride!



That being said are there any other fully funded, debt free, unhedged, 50k oz's p.a. + Soon to be gold producers with cash costs of around $250 (which @ current levels = margins of $600 +) ? ? ? ? ? ?


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## kgee (20 April 2006)

*Re: BMO - BMA Gold*

the longer the wait the sweeter the reward???


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## porkpie324 (20 April 2006)

*Re: BMO - BMA Gold*

all bmo watchers, why ar'nt buyers into bmo, i'll tell u  why there all into oxr no rocket science there, so what u do is this srart selling oxr over 4.50 then look for other up and coming oxr's, and bmo could fit the bill, i'm holding oxr also buying bmo on dips, don't worry  it'l get there, porkpie


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## Kipp (20 April 2006)

*Re: BMO - BMA Gold*



			
				porkpie324 said:
			
		

> all bmo watchers, why ar'nt buyers into bmo, i'll tell u  why there all into oxr no rocket science there, so what u do is this srart selling oxr over 4.50 then look for other up and coming oxr's, and bmo could fit the bill, i'm holding oxr also buying bmo on dips, don't worry  it'l get there, porkpie




Don't make sense does it  Gold now at $642 an ounce... but BMO not going beserk.  When is prod due to start?


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## John Rambo (20 April 2006)

*Re: BMO - BMA Gold*

Little birdies says announcement/quartely due out 27th of April next week. Said to be awesome.

Watch for increasing volumes, as typical insiders get set. Chart trends are strong...resistance at 37 cents, support at 0.355.

My guess: it will build tommorrow and monday....in preparation of said results.

Accordingly to Hartley's, they begin production this week (or next) delayed by clyclone Larry.

Good time to get on board now at cheap prices. Gold could be around 680 next week!!! Guess what the share price will be then with the annocement timed...an easy 20% rise on announcement is my guess.

Rambo.


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## Ants (20 April 2006)

*Re: BMO - BMA Gold*

I hope so because Im in for the ride. If it ever gets going,lol. I have faith


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## John Rambo (26 April 2006)

*Re: BMO - BMA Gold*

Watch this stock in the next couple of days. My source says big annoucement coming and very healthy quarterly. Mark my words, it's going past 0.40 cents.


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## kgee (26 April 2006)

*Re: BMO - BMA Gold*

Rambo ,I like your way of thinking! I see the buyers side is stacking up as well!!


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## John Rambo (26 April 2006)

*Re: BMO - BMA Gold*

........They drew first blood!

*It's a war out there man*


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## coladuna (26 April 2006)

*Re: BMO - BMA Gold*

I hope you are right Rambo.
This stock has been performing very poorly despite the high gold price, which has been puzzling me since I bought it a couple of weeks ago.


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## YOUNG_TRADER (27 April 2006)

*Re: BMO - BMA Gold*

Ok Rambo's kinda wierding me out    :bigun2: 


Well from a fund point of view, 70k oz's p.a. forecast production unhedged @ cash costs of close on $250oz with spots of $850 AUD (with more to come) = margins of $600/oz

= $42m in margins @ 6x PER = $252m = $1 PER BMO share

So like I said I ain't going no-where (kinda like the stock lately)


From a tech point of view its been in a recovery uptrend since 24th Feb, with a triangle pattern which has its ascending linear base @ about 35c now with the flat top @ 36.5/37c

Which means very soon there will be a breakout of the trend (I think?)


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## kgee (27 April 2006)

*Re: BMO - BMA Gold*

Yep all we need is a couple of months with some solid production and some more reserves plus further exploration results, surely the only way to go is up


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## ALFguy (27 April 2006)

*Re: BMO - BMA Gold*

Being a newbie, I've been reading books cover to cover lately.
With my limited knowledge and basic charting, I had this one on my radar as a possible breakout soon.
Posting this just to see if I'm right and to make myself feel better about jumping in and buying 'whatever' previously (this ended in disaster of course).


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## YOUNG_TRADER (1 May 2006)

*Re: BMO - BMA Gold*

A question to all the techies out there,

Is BMO showing an ascending triangle?

The top horizontal line is 36.5c? (37c maybe)

With the ascending linear base line starting at 27.5c on 24th Feb, touched chart again @ 32c on 4th April and yesterday @ 34.5c

I have the triangle meeting @ 36.5c on the 15th of this month,

Techies does this look right?


Its always good to get a tech view to back up the fundamentals.


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## RichKid (1 May 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> A question to all the techies out there,
> 
> Is BMO showing an ascending triangle?
> 
> ...





Hi YT,
I'll post a chart soon, it's got many triangles but currently not looking very convincing compared to other gold stocks which have run hard, but that's still a bullish pattern in that larger triangle. Probably best traded with support/resistance levels, a small triangle visible on the dailies too over the last week or so.


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## Kipp (2 May 2006)

*Re: BMO - BMA Gold*

Gold@ $660 today... how high is it going to have to get before we see that elusive breakout... $6,000?


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## coladuna (2 May 2006)

*Re: BMO - BMA Gold*



			
				Kipp said:
			
		

> Gold@ $660 today... how high is it going to have to get before we see that elusive breakout... $6,000?




Tell me about it. This stock just refuses to move when all the other gold stocks are running hard. I hope there's a big reward for those who wait.


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## andrewkmz (2 May 2006)

*Re: BMO - BMA Gold*

from qtly report, "It is expected that Area 1 will be mined during the period April to August."

maybe people wait for news of "first production go alive", another 1/2 or 1 month? once it's positive, it'll breakout?  my 1c


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## coladuna (3 May 2006)

*Re: BMO - BMA Gold*

Stock seems to be doing pretty well so far, finally!


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## YOUNG_TRADER (3 May 2006)

*Re: BMO - BMA Gold*

Traded @ 37.5c hasn't been @ this level for 3 months, if it can hold around 36.5c/37c next target is 40c, I wasn't expecting a breakout until 15th May or so, given my triangle.


This stock is long overdue for a run!


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## Kipp (3 May 2006)

*Re: BMO - BMA Gold*

YT what is BMA's silver resource (if any?) they mentioned in ther QTRly about producing 5000oz of silver so I assume there is some resource- big or small within their deposit?  As all you goldfingers prob know gold hit $670 tonight!  (Silver having a pretty good run, too)


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## RichKid (4 May 2006)

*Re: BMO - BMA Gold*

Looks like I've been attracted to an old favourite again.

Here is a recent report (March 2006) by Fat Prophets on BMO. I see some high vol buying days, the big issue now is this resistance level around 37.5c, FPM says it's in a large channel, so a breakout above 41c will see this really take off.
http://www.bmagold.com.au/bmagold/B...2DCE7DA1D74DBCFBB8ECAD68A9788F1A?fieldId=7228

BMO must be making some huge profits in this quarter- most of the broker assumptions are based on gold prices for Feb/March.


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## kr1zh (5 May 2006)

*Re: BMO - BMA Gold*

today BMO closed at $0.375. 

Will next week go up to 0.380 ?????


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## RichKid (5 May 2006)

*Re: BMO - BMA Gold*



			
				kr1zh said:
			
		

> today BMO closed at $0.375.
> 
> Will next week go up to 0.380 ?????




If gold goes the way it's going this'll break above 40 imo; gold hit US$685 a few hours ago, Monday is still 2 days away!! Only concern is that gold is overextending, it may hit 700 but that may only be a spike. Buying volume in BMO is the key, not just price.

BTW, is there a definite date for new production/first pour or whatever it is that the punters are expecting in June???


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## RichKid (8 May 2006)

*Re: BMO - BMA Gold*

Well folk, today was a breakout imo (41c, big buying), YT has got what he was looking for. I'd like to buy more if I get the chance, but it may tank if sellers are on the prowl. Hartleys had a valuation of about 44 to 50c on it a few months ago before gold took off, wonder if it's much higher now? I got into this last week- just luck as some of the other stocks I traded didn't do much.


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## YOUNG_TRADER (8 May 2006)

*Re: BMO - BMA Gold*

Rich you better believe it!


Breakout!!!!


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## silence (8 May 2006)

*Re: BMO - BMA Gold*

Yep it's churning along nicely, I got in last week at 0.37


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## RichKid (8 May 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> Rich you better believe it!
> 
> 
> Breakout!!!!




Hi YT,
Gold chart not looking good atm but this is probably not speculators buying; but those weaker hands may exit, all in the volume.


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## kr1zh (9 May 2006)

*Re: BMO - BMA Gold*

BMO is now up to 42.5 cents...

Where is it heading now?


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## YOUNG_TRADER (10 May 2006)

*Re: BMO - BMA Gold*

Gold @ $700 US/oz!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


My target is $720 (before next range begins) soon to be met!


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## YOUNG_TRADER (10 May 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> Gold @ $700 US/oz!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
> 
> 
> My target is $720 (before next range begins) soon to be met!





And with that gold price it looks to open very strong indeed, I knew that once through the rough seas of 30c - 40c the stock would begin to leap and bound ahead!


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## Mumbank (10 May 2006)

*Re: BMO - BMA Gold*

Another nice start to the day - let's hope it can sustain this run and get even higher.  Between this one and FAR and ENG I'm having a lovely little run  :


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## RichKid (10 May 2006)

*Re: BMO - BMA Gold*



			
				Mumbank said:
			
		

> Another nice start to the day - let's hope it can sustain this run and get even higher.  Between this one and FAR and ENG I'm having a lovely little run  :




There's been a fair bit of selling, have to see if the buyers win out, price is above the prior resistance level so it's ok for now.


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## kgee (10 May 2006)

*Re: BMO - BMA Gold*

Fat Prophets have new rec of buy around 45 ...I like this stock!!!


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## RichKid (10 May 2006)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> Fat Prophets have new rec of buy around 45 ...I like this stock!!!




Thanks for the tip kgee, that's great, but the technical story suggests caution as we have seen two strong sell days....but I'm looking to pyramid at the first opportunity, it's upto the market now to tell us what to do. It's great that they consider this good value (they are value seekers) so we only have to know their time frame, which I think is probably several months out so even if BMO collapses to 30c they'll be bullish. It's how you trade it that matters for us traders. Once the weak hands are cleared we'll know how far this baby can run.
btw, did they say that today?


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## kgee (10 May 2006)

*Re: BMO - BMA Gold*

yep it was today...and with a market cap of 103 million maybe some investment funds may be interested??
ps why wasn't the gold chart looking good on the 8th when we hit $700 last night?


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## RichKid (10 May 2006)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> yep it was today...and with a market cap of 103 million maybe some investment funds may be interested??
> ps why wasn't the gold chart looking good on the 8th when we hit $700 last night?




It's still a small co but hopefully we'll know who's selling in the next few days, if it's the big guys then that old high is crucial, if not it really doesn't matter as weaker hands get cleaned out eventually. I'd really like to see how much they sold on the spot market in this quarter, huge margins.

About gold: It was trading in a narrow band, when I saw a break to the downside I thought that it had failed but it turned out to be a test of the weaker hands and then it reversed and shot through to 700. This is really overdue for a correction in the short term, it's just hard to say when, nothing goes up continuously; long term it's bullish for me.


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## kgee (10 May 2006)

*Re: BMO - BMA Gold*

Yep a correction is due....which might provide a buying opportunity
I forgot to mention There should be an update coming soon from drilling results and maybe they can add some more gold to there reserves.
FatPs EPS for 2006 estimated 5.0 c. PE 8.3  2007 EPS 13.0 c. PE 3.2
These are at Gold $600 us. and for 2006 production  at 30000 oz which they hope might be more like 40000 oz and does not take into account the   lone sister deposit


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## YOUNG_TRADER (11 May 2006)

*Re: BMO - BMA Gold*

Stock is encountering so much selling, this is a hold and forget for me, not going to worry about what the 'sheep' do in the short term, long term, stock should hit $1,


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## coladuna (11 May 2006)

*Re: BMO - BMA Gold*

I sold out yesterday to lock in my profit and to find an opportuniy to re-enter at lower price but the share price has been holding on quite well today despite the selling. Hope I don't regret selling it so soon.


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## kgee (11 May 2006)

*Re: BMO - BMA Gold*

I couldn't find a forum to post this on but since it mentions BMO I thought I'd come here ...Its Hartley's comparison of Australian Gold Producers ...it's a very interesting read with a good rating for BMO especially for Enterprise value vs the price of gold 
check it out
http://www.try.com.au/media/pdf/HartleysJan06.pdf


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## esprit (11 May 2006)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> I couldn't find a forum to post this on but since it mentions BMO I thought I'd come here ...Its Hartley's comparison of Australian Gold Producers ...it's a very interesting read with a good rating for BMO especially for Enterprise value vs the price of gold
> check it out
> http://www.try.com.au/media/pdf/HartleysJan06.pdf




Hi

Is there any way I can subscribe or obtain these Hartley's publications, so I can get them as soon as they're released?


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## kgee (11 May 2006)

*Re: BMO - BMA Gold*

Sorry can't help... I stumbled across this in another forum...if you find out can you post us your findings?


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## RichKid (11 May 2006)

*Re: BMO - BMA Gold*



			
				esprit said:
			
		

> Hi
> 
> Is there any way I can subscribe or obtain these Hartley's publications, so I can get them as soon as they're released?



I just googled it: http://www.hartleys.com.au (ask them any questions you may have on subscribing).

They tend to focus on resources stocks more than others.

Thanks for the link kgee.


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## moses (13 May 2006)

*Re: BMO - BMA Gold*

if this stock is so great, why is a director selling his shares?


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## RichKid (13 May 2006)

*Re: BMO - BMA Gold*



			
				moses said:
			
		

> if this stock is so great, why is a director selling his shares?




Thanks for the caution moses. If you search ASF for 'director buying' you'll see that there are many views on the topic. I haven't even noted how much or how many were sold but it is good to know for those who watch director tnxns closely.


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## silence (14 May 2006)

*Re: BMO - BMA Gold*

I think the amount he actually sold was 1 million shares - he still has 8 million or so left.

I can't be bothered finding the report but it's something like that, in other words not too much cause for alarm yet.

Edit: I found the report again, and my memory was correct 

http://imagesignal.comsec.com.au/asxdata/20060512/pdf/00614086.pdf


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## YOUNG_TRADER (17 May 2006)

*Re: BMO - BMA Gold*

Directors sell for a whole bunch of reasons, who knows why he sold, but yeah it was like 1/9th of his holding so no real biggie,

More importantly gold has shot up to over $700 an oz again so quickly!


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## Kipp (19 May 2006)

*Re: BMO - BMA Gold*

All of the lemmings jumping the BMO ship... but with gold still at 680 they are set to make a s'load (assuming of course they have reached reasonable production by now).

I'm sure you've all wondered this - but why not use BMA as their ticker???


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## silence (29 May 2006)

*Re: BMO - BMA Gold*

Any more thoughts?

Up another 3c today which is a decent move for this stock.

A new general manager, is this cause for the rise?


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## Kipp (16 June 2006)

*Re: BMO - BMA Gold*

Every thread in the ASF goes quiet once the bear steps in... anyone still holding on to this one?  Was pretty good buying on Wed sank to 23.5c briefly before recovering back today to 29.


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## kgee (17 June 2006)

*Re: BMO - BMA Gold*

Yeah I stepped in again last week,also topped up on cbh and psv...with thought's of stepping back for a while...maybe a little holiday is in order


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## YOUNG_TRADER (19 June 2006)

*Re: BMO - BMA Gold*

Tisk tisk tisk, head grades of 13-15 g/t Au, cash costs of around $250 AUD per ounce, production of around 70k oz's p.a.

Only the good die young!


What a savage sell off this stock saw, tisk tisk tisk,


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## Bomba (19 June 2006)

*Re: BMO - BMA Gold*

any reason why this stock was sold off so much?


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## silence (20 June 2006)

*Re: BMO - BMA Gold*

Just the general market correction i'd say.


Anyway now it's settled down and buyers are starting to line up. I got back in at .30 a few days ago so hoping for a good run


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## Kipp (20 June 2006)

*Re: BMO - BMA Gold*



			
				Bomba said:
			
		

> any reason why this stock was sold off so much?



Think it was a bit more than a "correction" (i.e. 45c to 25c!!!).
A fail in Gold Prices of 730 to 550 does not mean a 25% drop in profit (i.e 550/730) but rather a 40% drop (based on YTs mining costs of $250/ounce).

But as previously stated, most broker valuations posted here of ~40c were made at a conservative $600 US/ounce.  So that makes SP look pretty cheap...


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## YOUNG_TRADER (22 June 2006)

*Re: BMO - BMA Gold*



			
				Kipp said:
			
		

> Think it was a bit more than a "correction" (i.e. 45c to 25c!!!).
> A fail in Gold Prices of 730 to 550 does not mean a 25% drop in profit (i.e 550/730) but rather a 40% drop (based on YTs mining costs of $250/ounce).
> 
> But as previously stated, most broker valuations posted here of ~40c were made at a conservative $600 US/ounce.  So that makes SP look pretty cheap...





I think a few things to remember about BMO are

1. It is an undergorund miner, so unlike Open Pit Mining even though there processing Mill can easily handle 2x as much Ore as they intend to process p.a. the output is restricted by how much Ore gets mined from Underground.

2. As a result of point 1 (ie can't really ramp up that much) head grades need to stay high to keep cash costs low $300 oz *AUD* intially falling to $250 oz *AUD* life of mine

3. They still only have about 5 years mine reserves, they really need to go hammer and tong on the exploration front to increase reserves, thats when you'll really see the share price take off, so far their drilling results have been very impressive with lots of meters of interesections well above *30g/t* THATS HUGE!


As I've always stated BMO is my preferred LONG TERM exposure to GOLD, it is one of the lowest cash cost per ounce ASX listed producers and over time I believe the company will be able to explore and uncover a much larger resource base at their Twin Hills Operation


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## Bomba (22 June 2006)

*Re: BMO - BMA Gold*

Could the price hammering this stock has received over the past few weeks be due to it perhaps not selling any of its unhedged gold when POG was near $700?


----------



## Kipp (22 June 2006)

*Re: BMO - BMA Gold*



			
				Bomba said:
			
		

> Could the price hammering this stock has received over the past few weeks be due to it perhaps not selling any of its unhedged gold when POG was near $700?



Not selling any?  What do you mean... isn't it now in almost full production?


----------



## Bomba (22 June 2006)

*Re: BMO - BMA Gold*

Is it possible to produce and store the gold, and not sell it now?


----------



## YOUNG_TRADER (23 June 2006)

*Re: BMO - BMA Gold*

BMO is not at full production, they won't be until Sep qtr, they only began pouring gold in Feb,

Its there reserve increase that should drive the share price though


----------



## YOUNG_TRADER (27 June 2006)

*Re: BMO - BMA Gold*

The buyers seem to have returned to BMO, is something up?

Only thing I can think of is either a reserve upgrade = very positive, just what this company needs,

Or another bonaza 200 g/t + intersection


----------



## kr1zh (27 June 2006)

*Re: BMO - BMA Gold*

Do you guys know what kind of inventory system are they using?


----------



## silence (6 July 2006)

*Re: BMO - BMA Gold*

Nice announcement today, also not much resistance above 0.34.

I've put in another order at .32 to add to my position so I'll see if that gets filled today


----------



## Kipp (12 July 2006)

*Re: BMO - BMA Gold*

Getting impatient with this one...
in mid april gold was trading ~600-630 and BMO was in the 34-36 range.

This week gold in the 620-640 range and BMO trading in a 31-33 channel (despite the increase resources announced on the 6/7).  Has the bull mentality abandoned Gold stocks?  (BDG hasn't really rebounded either....)


----------



## Bomba (12 July 2006)

*Re: BMO - BMA Gold*

im getting impatient aswell.  it aint moving.  when's it gonna fly. i aint holding my breath for that.


----------



## Market Cap (12 July 2006)

*Re: BMO - BMA Gold*

To me, it's starting to look very bullish. The BMO chart shows that 11dma crossed 30dma yesterday and today it retested 11dma (and held) and now sitting right on 200dma. If POG holds up tonight, I am expecting a nice run tomorrow. I hope... Just sold BSG yesterday after a nice gain and jumped on BMO today.

MC


----------



## silence (12 July 2006)

*Re: BMO - BMA Gold*

Lets hope so. This is one of a few positions of mine now that are just sitting there.

Maybe the next bit of positive news will bring enough hopeful buyers to push it up a bit.


----------



## silence (16 July 2006)

*Re: BMO - BMA Gold*

Gold is still flying high....I can't see this not getting off to a good start for the week.


----------



## the_godfather4 (16 July 2006)

*Re: BMO - BMA Gold*

It has dissappointed time and time again....  Fingers crossed this time


----------



## silence (17 July 2006)

*Re: BMO - BMA Gold*

Arghh, still nothing. Gold approaching $700+ again!

There are now a LOT of sellers in the 0.31-0.35 range.


I think we need some good news or I'll be out again. There is some support but not a great deal.

Any other opinions? I'm thinking the day I sell is the day before a big announcement of some sort


----------



## Kipp (17 July 2006)

*Re: BMO - BMA Gold*



			
				silence said:
			
		

> Arghh, still nothing. Gold approaching $700+ again!
> 
> There are now a LOT of sellers in the 0.31-0.35 range.
> 
> ...



]
Depends on what you think of Hartleys/Fat Prophets... both gave a pretty glowing review of the stock (of course when they are subsidised by the company to do a report I suppose their impartiality is questionable...)

What my little brain can't comprehend is why SP remains so low compared to the golden days of April/May (when spot gold was trading in a similar range)


----------



## YOUNG_TRADER (24 July 2006)

*Re: BMO - BMA Gold*

Unloved and completely ignored by the market,

I struggle to understand why a company like this gets sellers jumping off like this, @ 27c its a steal, however there may have been something bad in their qtrly so I'm not buying anymore, just waiting to see,


I they produced 10k oz's this qtr at a cash cost of say $400 (higher due to intiall production, ie slower, lower grades, comissioning etc) it will be very impressive,

Still the short term voting of the market seems to be neagtive towards this stock


----------



## Kipp (25 July 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> Unloved and completely ignored by the market,
> 
> I struggle to understand why a company like this gets sellers jumping off like this, @ 27c its a steal, however there may have been something bad in their qtrly so I'm not buying anymore, just waiting to see,
> 
> ...



Do you anticipate they've turned a profit for FY06?


----------



## YOUNG_TRADER (25 July 2006)

*Re: BMO - BMA Gold*

Hard to say given that the first 3 qtrs of the year were development and its only been this last qtr as production,

It all depends on their accounting etc, but I'd expect a small maiden profit of a couple of hundred thousand $



I'm more interested to see how much ore they pulled out of the ground, gold head grades, recovery etc etc

I know the operation is very young and thus will expect a few hiccups, but would be very pleased to see a smooth transition from explorer to producer


----------



## Kipp (29 July 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> Hard to say given that the first 3 qtrs of the year were development and its only been this last qtr as production,
> 
> It all depends on their accounting etc, but I'd expect a small maiden profit of a couple of hundred thousand $
> 
> ...



Understood.  As a ASX newbie, I've been amazed at just how many production delays new producers seem to encounter along the way.  BDG for example, and MGX has been shocking- promisng 3mta production by April, then they keep pushing it out (now not until 07).  There seems to be a massive inherent risk in new producers vs. established that are up and running (ZFX-MCR both seem to nail production quotas easily).  

IIf they've pulled 10K oz out (which shouldn't be too hard seeing as they did 2,500 first QTR I think) I'd hope for a bit more profit than than (3-5mill) course it could all depend on the creativity of their accounts!


----------



## YOUNG_TRADER (31 July 2006)

*Re: BMO - BMA Gold*

I don't know what they're doing over there at Twin Hills, I mean are they working or just dicking around?    

Very poor qtrly, I'll wait to see new resource upgrade, but I have lost alot of respect for this group of management


----------



## Kipp (31 July 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> I don't know what they're doing over there at Twin Hills, I mean are they working or just dicking around?
> 
> Very poor qtrly, I'll wait to see new resource upgrade, but I have lost alot of respect for this group of management



2,500 oz for the QTR... are they digging with their hands!!!  I'm going to drive to MacKay and kick some bogan miner ass!

Ahhh welll... 421, 000 of resources still has to worth something.  (but can these lovely spot prices stick around till ext March when they have prod in full swing?).  I don't like the way operating costs are now $350/oz (shifting up to $450/oz for the first half of 07).  

Someone please take this puppy over!!!  SBM?  Telstra?  I don;t care who....


----------



## the_godfather4 (4 August 2006)

*Re: BMO - BMA Gold*

Finally offloaded this dog after holding and hoping for what now seems forever  , so I figure that now that I have dumped all my holdings, it will hit $2 on monday  

Good luck to those faithful that still hold


----------



## YOUNG_TRADER (10 August 2006)

*Re: BMO - BMA Gold*

:horse:  Take that BMO!
And take that BMO Management :whip  
And that! :flush:


----------



## YOUNG_TRADER (10 August 2006)

*Re: BMO - BMA Gold*

CBA bought another 3m BMO @ 28c, they still have faith, thats good to see,


CBA hold 17.7% now, interesting


----------



## Riles (10 August 2006)

*Re: BMO - BMA Gold*

CBA have added 2.6 million shares, Director recently bought 200,000 @27.5.
Question is - who's doing all the selling and why??

Looking at the chart it's just about time to reload on this stock - hopefully there's someone else out there interested in buying.


----------



## noirua (10 August 2006)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> CBA bought another 3m BMO @ 28c, they still have faith, thats good to see,
> 
> 
> CBA hold 17.7% now, interesting




Looks about the right time to buy some of these, especially with the quarterly having looked quite bullish:

http://www.asx.com.au/asxpdf/20060731/pdf/3xrrxgnnlnrwn.pdf


----------



## Bomba (10 August 2006)

*Re: BMO - BMA Gold*

Are they still digging the gold out with tooth picks?


----------



## Kipp (16 August 2006)

*Re: BMO - BMA Gold*



			
				Bomba said:
			
		

> Are they still digging the gold out with tooth picks?



Toothpicks?  They are using their hands!!!  At least rising Oil Prices won't be an issue for BMO....

24c looks like a pretty major resistence line for BMO.  So I'm hoping SP doesn't fall much lower.  Or there'll be even more pain


----------



## kgee (16 August 2006)

*Re: BMO - BMA Gold*

Yeah it's still on my watchlist...I see fat prophets have another rec on it although I haven't looked at it yet as I've been on holiday'I'll post anything of interest...surely it can't fall much below 24...
hope those aren't more famous last words!


----------



## Bomba (16 August 2006)

*Re: BMO - BMA Gold*



> They are using their hands!!!



"

Good to hear they have upgraded their equipment, lol.


----------



## silence (22 August 2006)

*Re: BMO - BMA Gold*

Well, it's certainly turned around today following the announcment. A good kick in the pants. The buyers seem to have returned.

Looks like not all is lost just yet. I think I'm the only faithful holder left here.

*looks around nervously*


----------



## porkpie324 (22 August 2006)

*Re: BMO - BMA Gold*

no your not i have some, infact bought some more last week, porkpie


----------



## Kipp (22 August 2006)

*Re: BMO - BMA Gold*



			
				Bomba said:
			
		

> "
> 
> Good to hear they have upgraded their equipment, lol.



Well... they might not know how to dig- but at least they're pretty handy with a drill...  
Next resistence ~28c


----------



## Kipp (29 August 2006)

*Re: BMO - BMA Gold*

Still can't bring myself to let go of this mangey dog.  Spot gold is still reasonable at a stready $620, good drilling results keep rolling in.

Hartley's, Fat Prophets... well... I won't be a really hurry to get sucked into their recommendations again


----------



## Kipp (29 August 2006)

*Re: BMO - BMA Gold*



			
				porkpie324 said:
			
		

> no your not i have some, infact bought some more last week, porkpie



Hope your MCR wad is thicker than your BMO holdings!!!!


----------



## porkpie324 (30 August 2006)

*Re: BMO - BMA Gold*

its about the same in no of shares, but yesterday i bought some mcr cfd's on the announcement weakness,on BMO until the gold price starts to move they will continue as they are, OXR went thru a similar period so don't despair, porkpie


----------



## noirua (6 September 2006)

*Re: BMO - BMA Gold*

BMO seem to have moved a little above their low-point, and it will be interesting if they move to 30 cents.


----------



## Beethoven (6 September 2006)

*Re: BMO - BMA Gold*



			
				noirua said:
			
		

> BMO seem to have moved a little above their low-point, and it will be interesting if they move to 30 cents.




Harley's have high expectations of this company and rate this company's valuation at 46 cents.  

1 August 2006
http://www.bmagold.com.au/bmagold/BMO_20060801.pdf.file?fieldId=7704


----------



## watsonc (6 September 2006)

*Re: BMO - BMA Gold*

I should have bought this stock recently when it was at 0.245c. Now sitting at 0.285c, a handsome 16.3%. Oh well. I need to listen to you guys more often!


----------



## Kipp (6 September 2006)

*Re: BMO - BMA Gold*



			
				Beethoven said:
			
		

> Harley's have high expectations of this company and rate this company's valuation at 46 cents.
> 
> 1 August 2006
> http://www.bmagold.com.au/bmagold/BMO_20060801.pdf.file?fieldId=7704



Mate, alot of brokers wrote very glowing review on BMA back in Feb-Apr this year.  Phat Prophets, Hartleys, and others... there have also been no shortage of positive reviews on the Consmin (CSM) website over the past 12 months) and that boy has dropped like a rock despite the commodities boom all around!

All I'm saying is be wary of brokers reports, they are not always impartial.  

But maybe there is still value within BMO.  It's reserve keep increasing and gold has held up over $600 for most of the past 6 months...
But their management is a bit dodgy.  Operating costs are higher than expected.  Production lower than expected.  Just like MGX...


----------



## Beethoven (6 September 2006)

*Re: BMO - BMA Gold*



			
				Kipp said:
			
		

> Mate, alot of brokers wrote very glowing review on BMA back in Feb-Apr this year.  Phat Prophets, Hartleys, and others... there have also been no shortage of positive reviews on the Consmin (CSM) website over the past 12 months) and that boy has dropped like a rock despite the commodities boom all around!
> 
> All I'm saying is be wary of brokers reports, they are not always impartial.
> 
> ...




I would have to agree with you about management in bmo because of the slow digging and the expenses.  Just stating that harley's have continuous expectations of this company from it's reviews in april and august.  Commonwealth also has increased it shareholding with this company just recently and the fact they are increasing their reserves so maybe this company isnt all bad atm.


----------



## boults_4545 (4 October 2006)

*Re: BMO - BMA Gold*

Wow BMO plummeted nearly 10% this morning.

Is this soley to do with the price of gold or is there something specific to BMO going on? Are long term views on BMO changing?


----------



## Bullion (4 October 2006)

*Re: BMO - BMA Gold*

I'd say price of gold... many gold stocks have dropped a bit today...


----------



## porkpie324 (4 October 2006)

*Re: BMO - BMA Gold*

whats happened to BMO sp is typical of when a prospective, or a miner just starting production  dos'nt produce or find whats expected occurs, I,m sitting on a loss with these. porkpie


----------



## Sean K (4 October 2006)

*Re: BMO - BMA Gold*



			
				boults_4545 said:
			
		

> Wow BMO plummeted nearly 10% this morning.
> 
> Is this soley to do with the price of gold or is there something specific to BMO going on? Are long term views on BMO changing?




Generally the more speculative get more smashed on days like today. On the other hand, the more speculative can have grander days when they produce something out of the hat on good gold days...That's the risk/reward thing with these companies. Have to be prepared for it, or don't play the game...


----------



## Kipp (10 October 2006)

*Re: BMO - BMA Gold*



			
				porkpie324 said:
			
		

> whats happened to BMO sp is typical of when a prospective, or a miner just starting production  dos'nt produce or find whats expected occurs, I,m sitting on a loss with these. porkpie



Hey it could be worse... at least your not holding BDG... ekkk!!!!  Lots of pain there (short term anyway).  You should have enough to smile about anyway Porky... MCR, SMY... don't pretend your doing it tough!!!


----------



## porkpie324 (10 October 2006)

*Re: BMO - BMA Gold*

Thats right,  never commit to much to a prospective or just starting to produce miner. Your also right Kipp, got lots to smile about don't forget OXR, KZL,IGO & SMX. But at the mo i'm fairly cashed up!. but looking at plenty though. porky


----------



## Kipp (10 October 2006)

*Re: BMO - BMA Gold*



			
				porkpie324 said:
			
		

> Thats right,  never commit to much to a prospective or just starting to produce miner. Your also right Kipp, got lots to smile about don't forget OXR, KZL,IGO & SMX. But at the mo i'm fairly cashed up!. but looking at plenty though. porky



Now now... there's no need to brag...


----------



## porkpie324 (10 October 2006)

*Re: BMO - BMA Gold*

sorry i committed one of the deadly sins kipp. porkpie


----------



## Kipp (13 November 2006)

*Re: BMO - BMA Gold*

Is the latest action enough to excite anyone?  (At least reduce the capital loss).  Their QTRly was not well received by the market, but I suppose it is promising that BMO managed a 4 fold increase in production to 10koz, which makes their target of 70k next year (long promised) look attainable for once.

Anyhow, I'd run out of patience, and sold out my last small parcel at 24.  28 poses a bit of resistance so I'm not expecting 30's any time soon...


----------



## Sean K (20 November 2006)

*Re: BMO - BMA Gold*

Looks like it might have found a base and is working it's way out of the downward trend from May. Approaching some resistance but has momentum for whatever reason and I think it might get through. 

What's driving it anyone? 

Perhaps Twin Hills is going to be bigger?


----------



## MalteseBull (20 November 2006)

*Re: BMO - BMA Gold*

i took my profits on this today


----------



## Sean K (20 November 2006)

*Re: BMO - BMA Gold*

Hmmmmm, up 16% now, traded at $0.315, through resistance. No ann. Unusual vol. ??


----------



## silence (20 November 2006)

*Re: BMO - BMA Gold*

I think something must be coming. If not they'll get a speeding ticket, surely?

I've been holding this since I bought at 0.30 months ago.. A small parcel that was barely worth selling so it went in the 'long term' basket. I learnt my lesson from that seeing it down 20%+..Looking to get out when I can get 10% above what I paid or so and stick to my now existing plan next time.


----------



## YOUNG_TRADER (20 November 2006)

*Re: BMO - BMA Gold*

Management are avg over here,

Over promise and under deliver,

BMO should have been chruning out high grade gold and bank those chqs instead the do squat!

Also given its an underground mine I'd be concerned at how 'skilled' they are at avoiding cave ins


----------



## kgee (20 November 2006)

*Re: BMO - BMA Gold*

Be an interesting one to watch...Fat Prophets are still optimistic.
I just hope they can shore up some of there reserves with new drill program and once thats done do some more exploring and hopefully find some more

One note to self in future investments I might jump on the bandwagon of underground miners but I'm going to take profits b4 first production...how many of these companies have hiccups with underground mining? And for a company with only a 6 year mine life if they don't hit their straps running...well it makes things kinda tight  
nice to see bmo been mentioned again anyway


----------



## silence (20 November 2006)

*Re: BMO - BMA Gold*

Well, they denied everything in their speeding ticket reply...but I've seen that before. There was one company whose share price rocketed for no reason, 'um we know nothing', then 2 days later 'oh yeah, we just made some huge deal / found diamonds / other large announcement'


----------



## Kipp (21 November 2006)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> Be an interesting one to watch...Fat Prophets are still optimistic.
> I just hope they can shore up some of there reserves with new drill program and once thats done do some more exploring and hopefully find some more
> 
> One note to self in future investments I might jump on the bandwagon of underground miners but I'm going to take profits b4 first production...how many of these companies have hiccups with underground mining? And for a company with only a 6 year mine life if they don't hit their straps running...well it makes things kinda tight
> nice to see bmo been mentioned again anyway



kgee, it's a good point you make about taking profits before production, obviously BDG is a classic example here (though they've had other problems as well...) meeting deadlines seems to be bloody tough for junior miners.  And for a novice like me it is much easier to stick those with solid track records.


----------



## Dohes7 (16 January 2007)

*Re: BMO - BMA Gold*

Anyone know why the massive drop in SP?


----------



## deftfear (16 January 2007)

*Re: BMO - BMA Gold*

Downgrade in reserves, check their latest announcement for more info


----------



## Sean K (16 January 2007)

*Re: BMO - BMA Gold*

Bad news, but looks like another kneee jerk overreaction. Will probably come up off lows for those looking for a trade. 30% off is a bit much....Just IMO - DYOR blah blah....

(not holding)


----------



## YOUNG_TRADER (16 January 2007)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> Management are avg over here,
> 
> Over promise and under deliver,
> 
> ...




With this one I seriously knew it was only a matter of time


----------



## Sean K (16 January 2007)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> Fat Prophets are still optimistic.



No wonder this has come unstuck. The Fat Profits kiss of death! Just joking, I'm sure some of their tips go up, and I haven't see their review on this....

Down 35% now, and I wonder if we'll see a dead cat bounce on this like we did BDG? Risky trading plan I suppose. This might be just dead! 

Hope you long term holders are relatively unscathed from this...


----------



## silence (16 January 2007)

*Re: BMO - BMA Gold*

Heh, I got out of this just last week at .24, as it was 'going nowhere'. So it was actually going somewhere....


----------



## porkpie324 (17 January 2007)

*Re: BMO - BMA Gold*

I sold half last week only kept the rest because Fat Prophets was so keen on them, glad I don't subsribe to them, I'd rather listen to David (the speculator) haslehurst.porkpie


----------



## dubiousinfo (29 January 2007)

*Re: BMO - BMA Gold*

BMO have announced they are ceasing mining operations due to the recent resource downgrade.


----------



## Knobby22 (29 January 2007)

*Re: BMO - BMA Gold*

And they owe more than the remaining cash.
Liquidation will probably follow.


----------



## silence (29 January 2007)

*Re: BMO - BMA Gold*

Well, it was nice knowing it. All I can say I've become a lot wiser since I started with this one, and got out in time to miss the big fall to 10-14c - and when it reopens, to where? 5c before delisting?


Remember kiddies, no matter how optimistic people are, and no matter how much number crunching the fundamentalists do, it sometimes all goes a bit 'skewiff'. Importance of having a plan, blah blah.


----------



## YOUNG_TRADER (29 January 2007)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> With this one I seriously knew it was only a matter of time




Actually surprised that they didn't have a cave in, but theres still time  :


----------



## YOUNG_TRADER (29 January 2007)

*Re: BMO - BMA Gold*

CBA selling their holding in BMO, NOT A GOOD SIGN AT ALL,

And CBA still have alot left to sell


----------



## Sodapop (29 January 2007)

*Re: BMO - BMA Gold*

Bad luck to those who got burned - i know how you feel as a veteran of GTM... pick up the peices and move forward - p###ing and moaning won't help (not that anyone here is doing that - yet)... I found another share that has blown my losses in GTM out of the water - if i had walked away from speccies (or become more risk averse - it wouldn't have happened)...


----------



## YOUNG_TRADER (29 January 2007)

*Re: BMO - BMA Gold*

I actually had high hopes for BMO and bought in around 20c level mid last year,

I watched it soar to 46c, before tumbling back, I gave the comany a chance to let its story unfold, as soon as I realised management were **** I sold around 30c I think for a nice profit.

My rule is with Miners once management dissapoint sell, then wait and see, if they get it going again maybe buy back in (you'll probably be getting in alot cheaper than your exit)



I reckon this will get as low as 4c when it comes back on


----------



## Sodapop (30 January 2007)

*Re: BMO - BMA Gold*

Good night - and god bless...　Another dodgy goes to the wall... I have to say - this does not bode well for the small end of the gold mining sector... BTW the p###ing and moaning is not here - just go to hotcopper to get your fill... GUYS - limited liabilty does actually have a meaning (you can`t have it both ways...)... This sucks and i say this as a non-holder... Virtually a carbon-copy of GTM... All that therapy gone to waste...


----------



## YOUNG_TRADER (30 January 2007)

*Re: BMO - BMA Gold*

Well looks like the lessen is avoid small gold companies that either

A) Use DEBT to fund their projects

B) Use Hedging, forawrd selling lots and lots of gold

Victims CRS, GTM, BMO

Could follow BDG, ARX, GLN

Oh and Sodapop "I pity the fool" (Mr T) who tried to bottom pick BMO  :


----------



## mmmmining (30 January 2007)

*Re: BMO - BMA Gold*

I guess we should never play small producer. On the other hand, small explorers are the best, they never go broken. The worst case is you can own trillions of shares with a few dollars!


----------



## YOUNG_TRADER (30 January 2007)

*Re: BMO - BMA Gold*



			
				mmmmining said:
			
		

> I guess we should never play small producer. On the other hand, small explorers are the best, they never go broken. The worst case is you can own trillions of shares with a few dollars!





Nah Mmmming

I reckon the lesson here as with CRS and GTM is

*Avoid small gold companies that either

A) Use DEBT to fund their projects

B) Use Hedging, forawrd selling lots and lots of gold*


----------



## bvbfan (31 January 2007)

*Re: BMO - BMA Gold*

Why is it that small co's get the blame also for large companies that hedge and blow up too
SGW, Centaur, even NCM have issues with hedgebooks

2 went bust because of the hedgebook


----------



## Seneca60BC (31 January 2007)

*Re: BMO - BMA Gold*



			
				kgee said:
			
		

> the longer the wait the sweeter the reward???




yes very sweet indeed LOL

BTW

Will the shareholders get any money back or nothing changes - their money is safe ?


----------



## Seneca60BC (31 January 2007)

*Re: BMO - BMA Gold*



			
				YOUNG_TRADER said:
			
		

> I have been posting about this one in the Gold Sotcks thread for a few weeks now,
> 
> IMO it is the best small/mid cap emerging producer
> 
> ...





LOL


----------



## YOUNG_TRADER (31 January 2007)

*Re: BMO - BMA Gold*

Yeah funny isn't it,

Maybe you should remember that post was on the *12th March 2006*

When BMO was an emerging Mid Cap producer, completely unhedged and forecast production of 50k oz's p.a. in an environment where the gold price was at $720 US/oz


I sold and subsequently updated my postings on BMO with I don't like it anymore because they failed to meet production forecasts and loaded the company up with Debt

I liked ARX too but again delays and debt loading caused me o change my opinion.

Opinons and valuations are not STATIC (It seems you Seneca60BC may not understand this) rather they are dynamic, altering based on a number of variables, hence when Directors fail to meet promised production levels and require debt etc to get project going on top of many SPP's it signals Sell which I did, at a profit too!

Oh and see the price target of 50c I made on 12th March 2006, well it hit 46c about 2 months later


----------



## Seneca60BC (31 January 2007)

*Re: BMO - BMA Gold*

OK I understand.  Hey what is going to happen to those who have shares in this company?  Will they see their money again?


----------



## YOUNG_TRADER (31 January 2007)

*Re: BMO - BMA Gold*

I doubt it and if they do it'll only be a tiny bit, as they'll probably fire sale the assets pool mall the cash, pay off all the creditors, ie loands/debts outstanding salaries wages etc and then with whats left distribute it to shareholders,

I'll give you a heads up watch ARX and GLN I reckon they'll follow suite,

ARX cause they loaded the company up with **** LOADS OF DEBT

GLN cause they've forward sold alot of gold!


----------



## tinkus (23 May 2007)

*Re: BMO - BMA Gold*

BOM

Has money to pay back all creditors. Yippy

It will have 6 to 7 million left for sharholders, so they will see about 40% to 30% back on each share.

Not the worst news and at least they had things to sell and sell well they did.

regards

tinkus


----------



## norip_zxy (24 May 2007)

*Re: BMO - BMA Gold*

whats that mean?  how much shall we get?
 3-4c per share?   
and when shall we get the money generally?


----------



## Teddy Bear (25 May 2007)

*Re: BMO - BMA Gold*

Just heard this info. 

Creditors meetings today - 25th May, hoping to remove Administrators and then requotation of its shares on the ASX. 

They have raised $4.2 million from the sale of mining equipment and $3.5 million of the Rishton mill.  This willl be used to fund a restructure and pay the outstanding monies to creditors. 

A equity raising is planned to BMA shareholders to raise funds to complete payments to residual creditors and the rest to restart gold exploration at Rishton.

No time lines were advised.


TB


----------



## the_godfather4 (30 October 2007)

*Re: BMO - BMA Gold*

Excuse my ignorance but I was hoping someone could help me.... I received a letter today re a Non-renounceable entitlement. 

They are issuing 1 for 1 New shares at 2.5c per share.

Does this mean I no longer have my original share holding and that I now just have the new entitlement at the new issue price? OR Is the new share entitlement in addition to my original holding effectively doubling my holdings if I accept the new entitlement

Hope I havent confused anyone else even more than I already am...... Thanks


----------



## sup3rK0ala (3 November 2007)

*Re: BMO - BMA Gold*

As far as I know, the previous share you are holding still exist.
You did receive some letter from Advanced share registry regarding BMO Off market transfer previously as a proof that you still holding their shares.
if you have 10000 BMO shares and the entitlement is 10000 3:5 free attaching options.
so your total BMO share is 20000 + the BMO options.


----------



## the_godfather4 (3 November 2007)

*Re: BMO - BMA Gold*



sup3rK0ala said:


> As far as I know, the previous share you are holding still exist.
> You did receive some letter from Advanced share registry regarding BMO Off market transfer previously as a proof that you still holding their shares.
> if you have 10000 BMO shares and the entitlement is 10000 3:5 free attaching options.
> so your total BMO share is 20000 + the BMO options.




I did receive that letter...Thanks for the info sup3rK0ala much appreciated. I assume the list price will be $0.025c


----------



## sup3rK0ala (4 November 2007)

*Re: BMO - BMA Gold*

It depends, when BMO start to trade in the market. 0.025c is the offer to the shareholder. so hopefully the price can be higher then the offer price to the shareholder.


----------



## noco (5 November 2007)

*Re: BMO - BMA Gold*



sup3rK0ala said:


> As far as I know, the previous share you are holding still exist.
> You did receive some letter from Advanced share registry regarding BMO Off market transfer previously as a proof that you still holding their shares.
> if you have 10000 BMO shares and the entitlement is 10000 3:5 free attaching options.
> so your total BMO share is 20000 + the BMO options.




You are spot on. As you say if you own 10,000 shares January 2007, you are entitiled to buy 10,000 more at 2.5 cents making a total of 20,000 plus the free option of a further 6000 which you may exercise on or before 12-10-2012
however, I hate to be the bearer of bad news, but when you do the sums, the company is not worth any more than 2.5 cents per share. BMO need the money to carry out further exploration, so lets hope they find some good deposits pretty soon. The free options are an incentive to attract existing share holders to invest in BMA Gold. Not a bad move on their part. The risk is there, but the rewards could be in the making if you are patient.


----------



## sup3rK0ala (10 November 2007)

*Re: BMO - BMA Gold*

Reading through their prospectus, what happened if they are undersubscribe?
will they go through another institution or return shareholder's money?
From the BMO board point of view, they are pretty confident that the existing tenements still have a value to continue the exploration or probably hoping for some acquisation opportunity to happen?


----------



## gfresh (5 December 2007)

*BMO - BMA Gold Limited*

*BMA GOLD LIMITED*

Just relisted this week 3rd December 2007. Has previously gone into administration, however now has paid off all debts and creditors via recent November rights issue, and sale of old mining assets and equipment. Now has $1.9M in the bank.  

*Key points* (from recent 3/12 Presentation)

* 380 sq.KM exploration permits in Queensland Drummond Basin
* Market cap of $10.9m at 2.5c share 
* $1.9M cash in bank available for exploration and development
* Exploration to commence early 2008
* Colonial State largest shareholder with 10% shareholding
* "309 Resource" - 155,000 oz gold, 0.788Mt @ 6.1g/T
* "Lone Sister" - 120,000 oz gold, 1.014Mt @ 3.7g/T
* Aim to add 200-500k oz to the above

*New Management Team*

Some good experience in here: 

*Michael O’Keeffe (Non Executive Chairman)*

Executive Chairman Riversdale Mining Ltd. Previously MD Glencore Australia Pty Ltd and held Non Executive Directorships (NED) with Anaconda and Mt Lyell Mining. Started at MIM in 1975 and rose to Executive Mgt level in commercial activities.

*Mark Wheatley (Chief Executive Officer & Managing Director)*

Previously CEO of TSX listed Southern Cross Resources Inc prior to merger to become Uranium One and still serving as a NED. Served as NED on St Barbara Ltd during board restructure and acquisition of gold assets of Sons of Gwalia. Was GM Corporate Development for AurionGold Limited and SVP with BT Australia Ltd. Started with BHP at Port Kembla as a trainee in 1979. BE (Chem Eng Hons 1), MBA.

*Ken Winters (Executive Director Finance and Company Secretary)*

Previous CFO of Highlands Gold Ltd, Mt Lyell Mining and CBH Resources. Started mining career in 1979 and has held senior operational and commercial positions in public companies including MIM.

----
Obviously a case of buyer tread cautiously, however looks like a complete restructure.

BMOO are the listed options with excise price of $0.02 - expire November 2012


----------



## Jockstar73 (7 December 2007)

*Re: BMO - BMA Gold*

on the move....   up 25% already this morning....   looks like they made the good decissions in their restructure


----------



## gfresh (7 December 2007)

*Re: BMO - BMA Gold*

Going nuts, and still large orders going through.. Up nearly 100% on it's offer price - pretty much in one week. Some large buyers into this one with $100k+ orders, professionals.

Hopefully some of the older holders took up the offer, will make up some of their losses.


----------



## norip_zxy (7 December 2007)

*Re: BMO - BMA Gold*

i am a old holder, and this one take a long time to alive.

however, since BMA trade again, i can not see any of my shares in acc. what's wrong with that?


----------



## Bomba (7 December 2007)

*Re: BMO - BMA Gold*

norip

I believe your shares and options will be with Advanced share registry services.  You will need to complete a broker transfer form if you want to change sponsoring brokers or if you want to sell you will need to quote the SRN.


----------



## LRG (1 July 2008)

*BMO - any thoughts?*

I have noticed the recent action in BMO.

Does anyone have anymore thoughts or comments on its long term future with the recent ann?

volume and % increas e was good today, but is it just "a flash in the pan".

Has had some ups and downs over the past few years.


----------



## noco (2 July 2008)

*Re: BMO - any thoughts?*



LRG said:


> I have noticed the recent action in BMO.
> 
> Does anyone have anymore thoughts or comments on its long term future with the recent ann?
> 
> ...




BMA are seeking more funds, .016 cents per share. They have extended their closing date by 6days following the release of some promising assays.
IMHO, it was designed to encourage investors to dig deep into their pockets,
and it will be a year or more before we see any action.
One will have to patient and hope BMA find what they looking for.


----------



## george46 (20 April 2009)

*Re: BMO  BMA Gold*

any coments about this stock sems to take long time to  get back on line anyone out there knows anithing about them i cant find any reports on them since the  melgamasion


----------



## george46 (30 April 2009)

*Re: BMO  BMA Gold*

i ring mbo and  tol me tha  will be back in the market 11 off may i hope thay go well as im in it deep and i sespect thay will


----------



## noco (30 April 2009)

*Re: BMO - BMA Gold*

Yes, that is correct. They will come back on as Gold One  ( GDO) at between 22 & 24 cents.

I believe the directors have done a great job by merging with Aflease who have some 15,000,000 oz of gold reserves  in South Africa and are currently producing.

Great times ahead for GDO imho.


----------



## noco (30 April 2009)

*Re: BMO - BMA Gold*



noco said:


> Yes, that is correct. They will come back on as Gold One  ( GDO) at between 22 & 24 cents.
> 
> I believe the directors have done a great job by merging with Aflease who have some 15,000,000 oz of gold reserves  in South Africa and are currently producing.
> 
> Great times ahead for GDO imho.




George, an adder to my post, I learned today, GOLD could $2000 PER OZ by Xmas 2009.
Stay with them ole' mate.


----------



## george46 (13 May 2009)

*Re: BMO - BMA Gold*

look up this announcement

http://www.bmagold.com.au/media/ann...s Finalisation Statement and Announcement.pdf  this will good fanaly


----------



## noco (13 May 2009)

*Re: BMO - BMA Gold*



george46 said:


> look up this announcement
> 
> http://www.bmagold.com.au/media/ann...s Finalisation Statement and Announcement.pdf  this will good fanaly




George46, we should all look forward to Monday 18th May 2009.
Gold One (gdo)  (EX BMA GOLD) hits the ASX. Prospects for an opening between 22-24 cents ps.
With gold expected to reach A$2000 by Xmas 2009 and 15,000,000 ozs in reserve, who knows what PRICE  GOLD ONE could be by then.
I'm gonna hand in there.


----------



## prawn_86 (13 May 2009)

*Re: BMO - BMA Gold*



noco said:


> With gold expected to reach A$2000 by Xmas 2009




LOL according to who? As the AUD rises the price of gold falls in Aussie terms. I think your dreaming if you think it will more than double in 8 months


----------



## noco (13 May 2009)

*Re: BMO - BMA Gold*



prawn_86 said:


> LOL according to who? As the AUD rises the price of gold falls in Aussie terms. I think your dreaming if you think it will more than double in 8 months





Prawn you may care to check out the following Web sites:-
www.portphillipresearch.com.au
www.dailyreckonoing.com.au

Or go to Google and type in gold prices you might be surprised at what you learn.


----------



## george46 (18 May 2009)

*Re: BMO  BMA Gold*

gdo is back on line this moring alot to bay  limited salers  the seling price is high lets se whete  thay going looks good


----------



## jonojpsg (21 May 2009)

*Re: BMO - BMA Gold*

Hey mods can we rename this thread GDO pls now that it has relisted?

Also, just wanted to get peoples thoughts on how this one should be panning out from an FA perspective.

Given their resource (15m oz!!) and MC (about A$330m at $0.50 a share) this is only pricing them at $22/oz.  As a follower and holder of PRU this is simlar to their pricing (which is very low on a peer comparison basis) BUT GDO are about to start production later this year.

Surely on this basis a more realistic pricing would be closer to $50/oz?

Anyone?


----------



## johannlo (22 May 2009)

*Re: BMO - BMA Gold*

The publicly available stats do look tasty relative to current SP doesn't it!

I'm inclined towards the positive long term outlook on gold prices so on that basis alone it looks like a decent medium-termer to me. The 'turning point' for me will be what happens to SP when production goes online which of course is a quarter or two away, so here's crossing my fingers for the short term.

ANd yes if any mods are reading, pls lets rename this thread to GDO to reflect the ASX name


----------



## stretchie (19 November 2009)

*Re: GDO - GDO Gold*

So, just looking through the goldreview.pdf posted in another thread which I'm sure most people had a look at, at some point (Lonsec's July 2009 gold company report).. I noticed Gold One has a rather huge deposit and a pretty reasonable grade (around 3-5g/t) yet it's only priced at $20/oz of resource and $210 per oz of reserves. What gives? The report said they were running out of cash and looking at their share price it's gone from $6 to around $0.35 in the last 10 years. they must have run out of money or something?

Anyone got any opinions on this stock and where it might go from here given the already high gold price?


----------



## boronia (2 December 2009)

*Re: GDO - GDO Gold*

*2 December 2009
Gold One declares Commercial and Continuous Production at Modder East and
Provides Production Guidance for 2009 and 2010
● Maiden operating profit for the Modder East project
● Commercial & Continuous production declared at Modder East Gold Mine
● Gold One provides production guidance for 2009 and 2010*

This is goods news for this stock and may trigger a re-rating of the SP

2010 production 100-120 koz @ US$330/oz
2011 production 180 koz @ US$250/oz


----------



## noco (2 December 2009)

*Re: GDO - GDO Gold*



boronia said:


> *2 December 2009
> Gold One declares Commercial and Continuous Production at Modder East and
> Provides Production Guidance for 2009 and 2010
> ● Maiden operating profit for the Modder East project
> ...




Yes, Gold One is looking good, thanks to the original Directors of BMA who pulled off a miricale after BMA almost went down the gurgler.

IMHO there should be gradual movement up in 2010. Hang on for the ride.


----------



## boronia (16 May 2010)

*Re: GDO - GDO Gold*

Good movement last week as BakerSteel increased its significant shareholding.

If you use EV/resource oz as a metric for comparing gold mining Co's then this gold show deserves a serious re-rating. See recent investor presentations on the GDO website for details

I reckon the final triggger required for the re-rating may be outstanding convertible notes, update is below: 

*Implement debt facility in respect of any potential December 2010 put(s) of convertible notes by Bondholders
Shortlisted 4 banks to arrange a senior secured debt facility based on an extensive RFP process
Final, non-binding proposals were received from all four banks in February 2010
GDO recently selected two of these banks, to finalise and implement the facility on a syndicated basis*


----------



## ParleVouFrancois (11 October 2010)

*Re: GDO - GDO Gold*

Found these guys a while back from Baker Steel's increase in ownership, Baker Steel are a very professional outfit and tend to only invest in well managed companies. GDO seems to fit the bill and I'm very happy with the current news release!

Wrote up an analysis on my blog (see signature for URL) of GDO, if you can't be assed reading it I don't blame you, it's quite long winded, but basically comes to the conclusion that GDO is undervalued at current prices and we should see some re rating from here.


----------



## mav777 (11 October 2010)

Just read your article, well written and appreciate the work put in.
There appears to be some good value with GDO as you have highlighted, but the annual report looks a misery. They are in production, good grades etc, but can they build up their bank account?


----------



## Sean K (11 October 2010)

I'm not sure how they actually got to this resource upgrade for the Megamine deposit:



> The substantial increase in the Megamine resource base is the result of intensive desktop studies, which were completed over the past year. Together with the company’s geological advisers, Shango Solutions (Pty) Ltd, Gold One has collected, collated and verified a significant historical database inclusive of data from Gold Fields Limited, a previous owner of the largest portion of Megamine. This database comprises approximately 150,000 data points including, but not exclusively, 41,000 reef elevation co-ordinates, 97,000 underground reef samples and 125 exploration boreholes. This additional information has facilitated the creation of a regional 3D geological model as well as confident sedimentological and grade distribution models, all of which have underpinned the updated resource estimate.



Did they actually do any more drilling, or just add in previous data not already included in any resource estimate? 

I can't see how they are going to keep cash costs down when they are planning to go so deep. Will be interesting to see.

On the surface of it WAY undervalued if I have these figures right. Trading at $13.5 an ounce after the upgrade. 

(haven't updated a few of these stocks recently)


----------



## ParleVouFrancois (11 October 2010)

RE: Kennas, I'm pretty sure they are trading this low because of a few reasons, one is the "south african" effect I tend to go on about, that is companies listed on ASX but with operations overseas (particularly south africa) are heavily discounted, either due to real or percieved risks about the political situation and unfamiliarity with a different country. 

Another is that last financial year they had a strike for quite a while (2-4 weeks? I don't remember exactly) that caused the economies of scale to be diminished and they only managed to produce enough gold for a few million in cashflow. These labor problems seem to be solved for now, but the market doesn't seem to realize this.

One other possible reason is the Black Economic Empowerment groups required to, by law, to own at least 26% of all South African mines by 2014, GDO managed to get a favorable valuation on it's East Modder mine (figures posted on blog, can't recall atm), and as of yet, GDO still currently holds 100% of East Modder, only by 2014 will BEE be required to buy into it.

So look back, last reporting time they were a company with labor problems, BEE breathing down their neck (with uncertainty of what price BEE will pay for their 26%) and production problems. However the recent news announcements show that GDO has overcome these problems, with a new employee agreement for the next three years, BEE with a reasonable valuation, and production targets met! If you wait until GDO is at a "reasonable price" (e.g. higher) to what you get, you'll have missed out on most of the gains.

Don't take this as advice to buy, take it as advice to go research into GDO, it's a very undervalued stock and today's news shows that management are capable of delivering the goods (also last week they announced that their financing for 65 million of bonds was approved, another positive for the company).


----------



## kgee (11 October 2010)

Maybe investors still have a bad taste in their mouths from the BMA / BMO capitulation


----------



## Sean K (11 October 2010)

kgee said:


> Maybe investors still have a bad taste in their mouths from the BMA / BMO capitulation



Ah, I see. Fair enough. Same management or is this a totally re-treadded company?


----------



## ParleVouFrancois (13 October 2010)

New announcment out today, GDO is to reverse takover White Water Resources and form a new company, Goliath Gold, which is to hold their "megamine" project. This imo is a good deal for GDO, reasons outlined in blog (if you want to read them ) the share price is up 14% today, partly on this news, and partly from the continued rerating of GDO as a share, still quite underrated for what you get.


----------



## Sean K (14 October 2010)

ParleVouFrancois said:


> This imo is a good deal for GDO, reasons outlined in blog (if you want to read them )



Your opinion is shared by the companies involved it seems.

From Proactive Investors.

Neal Froneman, Gold One President and CEO, said, "The transaction maintains Gold One’s focus on developing its shallow low cost ounces as well as its strong operational cash flows, while unlocking value in Gold One’s deeper resources.”

“White Water Resources was chosen as a suitable vehicle as the company has, over the past few years, restructured itself into a focused resource company whose assets are contiguous to those of Gold One’s.”

Waron Man, White Water Resources CEO, said, “White Water Resources anticipates that the transaction will be beneficial to its shareholders, as it begins to consolidate a prospective gold province and provides them with access to a greater resource base as well as excellent management experience and expertise in exploration, development and mining.”

Gold One will crystallise ZAR 260-million (A$38.6-million) of value for Megamine, with Goliath Gold moving its focus to the development of Megamine.

Gold One’s strong cash flow status and focus on Modder East and Ventersburg will be preserved.

Gold One will enter into a management contract with Goliath Gold, such that both parties benefit from the synergy of shared costs, management and technical expertise.


----------



## Hurricane (14 October 2010)

Hey PVF didn't I see you on the RED thread LOL (Great minds think alike) Glad I held these guys, I was pretty close to dumping them at cost and buying more RED's. Just out of interest what's your target on GDO? I'm looking at 70c+ 

Maybe we could talk Beatle into casting his eye over the stock : )


----------



## ParleVouFrancois (14 October 2010)

Yes I believe you did see me there, still holding some RED, it's one of my biggest winners, and I wish I had bought more!

We'll have to rearrange the keys on his keyboard so when he logs on at 10AM to check RED it actually types GDO, otherwise I can't see him checking it out lolol .


----------



## sion (2 November 2010)

Sold my CTO shares. :crap: I've had GDO on my watch list for some months. Along with all the other great stocks that I did not buy when I should have and CTO which I did buy when I shouldn't have. GDO is one of the few that haven't moved much along with the gold price. They seem undervalued. I'm tempted but I need to do my own research before purchasing any of this one.


----------



## Hurricane (5 November 2010)

Hi Sion, have a look at the investor section on their website for some broker research on these guys. In my mind the SP won't start to move until these guys start start regularly hitting quarterly quarterly production targets. While the upgrade in resources at megamine has been positive, I don't think this has been fully realised in the SP.


----------



## boronia (9 November 2010)

Hurricane said:


> Hi Sion, have a look at the investor section on their website for some broker research on these guys. In my mind the SP won't start to move until these guys start start regularly hitting quarterly quarterly production targets. While the upgrade in resources at megamine has been positive, I don't think this has been fully realised in the SP.




Hi Hurricane, agree that the quarterly prod'n will help any SP charge, but in the immediate term I think that the 12th November is an important date. This is the date by which GDO bondholders need to advise the Co. if they intend to exercise their once-off put option which will occur on 12 Dec 2010. If all were to do so, then there would be a sizable dilution in these shares. So the preferred option is that bondholders cash out (which is why GDO recently secured a $65million loan facility). I think that once this is out of the way a re-rating is likely. 

Wrt what a re-rated share price would look like here are 3 wild guesses (that should not be relied upon) based on different metrics:

Mkt Cap / Prod'n oz ($5000/oz). GDO is about $3,500 so 53cps
Mkt Cap / Reserve oz ($350/oz). GDO is about $205 so 63 cps
Mkt Cap / Resource oz ($154/oz). GDO is about $14 so 407cps??

I think the first 2 are probably a bit more realistic over the next couple of quarters assuming (like you say) they become proven producers

boronia


----------



## ParleVouFrancois (9 November 2010)

Boronia, having gotten around 50 cents per share as my personal valuation of GDO, it's good to see that it's also held in a more mathematical basis (on $ value per ounce production).

I'd agree in that the bondholders conversion (if they will do it or not), along with their lack of production history is causing some hesitation among investors. Imo in the next quarterly these two issues will be sorted out, with bondholders being able to convert at a price of around 38 cents if I recall correctly or they can cash out at par (GDO has secured the funding for this, as per previous announcements), and last quarters production highlighting what GDO can do (didn't hit the target, but got 85% of the way there).


----------



## Hurricane (9 November 2010)

407c sounds good to me how about you PVF? If only it were that simple!!!

"(didn't hit the target, but got 85% of the way there)." Not really something I like to hear from a company I've invested my hard earned moola into!! Come on GDO - under-promise over-deliver!


----------



## Hurricane (12 November 2010)

Big jump in SP today what gives? Surely not a delayed reaction from the Modder East update??? Anyone know of any Broker/Analyst reports out today???


----------



## boronia (12 November 2010)

Hurricane said:


> Big jump in SP today what gives? Surely not a delayed reaction from the Modder East update??? Anyone know of any Broker/Analyst reports out today???




yesterday was the last day for GDO bondholders to exercise their put options. It appears that the previous selling pressure that has been around for the last few months has now disappeared and given GDO SP an opportunity to approach fair value


----------



## TabJockey (15 December 2010)

The positive news today and the SP drop have encouraged me to get out of GDO for the time being. Perhaps when everyone wakes up and it rallies through 60c I will hope back on board


----------



## Hurricane (15 December 2010)

Yeah what gives?? Anyone with any insight into why the SP dropped?? Gold seems to be on the leg back up, is there some regional news out there having an effect?


----------



## ParleVouFrancois (15 December 2010)

I'm pretty sure that it's the nature of the announcement itself. The drilling program didn't really extend the resources beyond the production that has been made (about 2-3% increase in overall resources). The reason Modder East now has a longer life is the addition of the more marginal ores, as opposed to a finding of more high grade quality ore. The high gold price allows GDO to process the lower quality ore later on, increasing the NPV of GDO, but obviously not changing the game much *today*. It's more of a several years from now ME will still be open making some cash announcement, rather than a discovery of masses of new reserves.

PVF.


----------



## Sean K (21 December 2010)

ParleVouFrancois said:


> The drilling program didn't really extend the resources beyond the production that has been made (about 2-3% increase in overall resources). The reason Modder East now has a longer life is the addition of the more marginal ores.



I think you might be right there PVF. Not a good look for if/when there's a decent correction in POG. Anyone hanging their hat on lower grade and more expensive ore to mine will naturally get hammered. POG is continuing to find very good support and will probably keep running until the printing presses stop. But if the printing presses stop and the USD survives then these new developers of marginal projects which are low grade and relatively high Opex will turn to dust. Many will go bankrupt and people will lose mega bucks. On the other hand of course...


----------



## Hurricane (4 January 2011)

Good to see some of the directors loading up lately, hopefully thats a sign of good things to come in this quarter for GDO https://www.aussiestockforums.com/forums/images/smilies/smile.gif


----------



## BananaCake (7 January 2011)

Wow so informative this forum, keep it up guys!


I've been reading into GDO for quiet some time now and can honestly see myself investing within once 1 more positive company announcement is listed

the user with the Alien/piccasso? avatar   you've quoted a potential roller coaster towards a huge 7 cent?

where do you source all your information from as i'm yet to come across this?


----------



## TabJockey (10 January 2011)

Hi guys, drop in SP today on good news. Technically GDO is not in a good place and fundamentally it is not either. It cannot at the moment generate enough cash to pay off its debt (80% of assets) and I cant see that situation improving.

Just a heads up to holders as to the reason why the SP is not doing anything.


----------



## ParleVouFrancois (10 January 2011)

Hi, as assumingly the guy with the 'piccasso painting', (it's called 'the scream' LOL and it's by Edvard Munch, I thought it'd be applicable to the sharemarket sometimes ), it's in the company announcements. Assuming they hit their target of 120,000 ounces this year they expect to generate cashflow of 7 cps.

Here we go, found the exact announcement regarding the 7 cents per share:

http://imagesignal.comsec.com.au/asxdata/20101129/pdf/01126200.pdf

It's on page two first paragraph, obviously all the assumptions that have been made in calculating that have to be hit, and you'd have to weight your decisions based on the likelihood of them all occuring. 

I am personally a disbeliever in the 'American recovery' which is based around inflating away the debt, historically any country who has started the process that America is on has had MASSIVE inflation, but we haven't seen that in the USA due to the currency's reserve status, history books will be written about these days, but the problem is noone really knows what will be written.

RE: Tab, obviously you would'nt find "high quality" companies with bullet proof balance sheets trading on a PE less than 5. Given that this time last year the company was plagued by the problems in the initial ramp up period, BEE (black economic empowerment) issues, a disgruntled and striking labor force, and uncertainty over the financing, all these issues have been sorted as of a few months ago. Now all that remains is the company keep hitting their production targets, they have a pretty aggressive production profile imo, and most of the current profits are being reinvested in more gear to mine more ounces hence the lack of cash flowing through to the balance sheet to pay off debt.

PVF.


----------



## TabJockey (10 January 2011)

Hmm the report I read must have used old information. It was dated jan 7th but maybe it used june10 financial statements.

The November anny is very positive and the assumptions dont sound too far fetched. Im not sure if that 59m figure is after debt, but even if it is GDO is still prices attractively with repayments easily covered several times.

Many gold small caps are in limbo at the moment, there is allot of uncertainty out there and quite a few things that could go wrong globally sending equities back into the doldrums.

I am keeping some cash handy, but if the GDO SP continues to fall it will make an excelling buying opportunity.


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## BananaCake (20 January 2011)

you fellas come across any other updates regarding GDO

i've read up on a few other forums and found nothing but good, but each time i read good i find a drop in the SP =/

hmmmm


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## noco (20 January 2011)

BananaCake said:


> you fellas come across any other updates regarding GDO
> 
> i've read up on a few other forums and found nothing but good, but each time i read good i find a drop in the SP =/
> 
> hmmmm




Gold One are progressing quite well ATM and production is increasing every quarter.

IMHO the main problem holding back the SP is the large debt still around their necks.

Assets are $24,485,000
Liabilities  are $92,230,000 which includes Total debt of $80,293,000.

One Gold produced 120,000 ozs in 2010 and have forcast an increase to 150,000ozs in 2011.Their production costs are around $400 per oz. So with gold selling around the $1300 mark, it may be a good 12 months before we see some movement.

I believe once this debt is reduced and they start to pay a dividend, then we should see some movement in the SP.

NB: I am not a financial adviser so DYOR.


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## TabJockey (20 January 2011)

NAV 100k production of gold with only 10M debt plus the entitlements for their REE Spin off is a much better looking investment IMHO at 22c MC 96M.  

I have been watching GDO for a while now and I think its hard to see a big market re rating around the corner with gold prices flat (or worse).


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## ParleVouFrancois (20 January 2011)

Doesn't NAV have a much higher cost base than GDO? I can't seem to find the announcement but isn't it on the order of 800-900 an ounce? Would be happy to see it clarified. If we are talking producers who look undervalued I'm thinking DRA would be another one to have a poke at, producing in Finland and Sweden pretty nice position in cash and assets when compared to price atm.

Back on topic for GDO, I think the lackluster price has as much to do with not 'having' to buy in before a specific event, the mine is there and producing very profitably, but beyond that the debt, lack of dividends, and general unpopularity of South Afrian based companies listed on the ASX means that it probably will be a rather boring year for GDO. However I'm still a big fan of the cashflows and assets on the sheets, and to me this company is a very solid buy at these prices, still more upside with production and exploration due to come out in the next few years. Obviously if your timeline is shorter there are other stocks that most likely will outperform GDO.

PVF.


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## TabJockey (20 January 2011)

It was 800 inc. admin and according to the last announcement "progress has been made reducing cost per ounce" and 600-650 an ounce is a more likely long term average. Not exactly sure what they are running at over at NAV in the present though, but their q4 report should be out shortly.

Assuming novo's figures are correct, 80M in debt to 24M in assets is a riskier prospect, and you would expect to be compensated for that risk with capital growth which is not happening in the market. The debt also effects the earnings, a very rough EPS estimate for 2011 with GDO would be 6-10c (which would pay off its debt in about a year).

Nav will make 6-8c EPS in 2011 but does not have the risk profile GDO has. The kicker for me will be the rare earth entitlements that are basically a bonus of 1-2c per share that the market has not woken up to.

GDO has a very juicy cost base but there are probably better technical and fundamental options out there. The market is going a bit cold on gold stocks also, with Uranium and Zinc looking to be a better alternative prospect in the next few years according to some analyst reports.


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## TabJockey (20 January 2011)

ParleVouFrancois said:


> Doesn't NAV have a much higher cost base than GDO? I can't seem to find the announcement but isn't it on the order of 800-900 an ounce? Would be happy to see it clarified. If we are talking producers who look undervalued I'm thinking DRA would be another one to have a poke at, producing in Finland and Sweden pretty nice position in cash and assets when compared to price atm.
> 
> Back on topic for GDO, I think the lackluster price has as much to do with not 'having' to buy in before a specific event, the mine is there and producing very profitably, but beyond that the debt, lack of dividends, and general unpopularity of South Afrian based companies listed on the ASX means that it probably will be a rather boring year for GDO. However I'm still a big fan of the cashflows and assets on the sheets, and to me this company is a very solid buy at these prices, still more upside with production and exploration due to come out in the next few years. Obviously if your timeline is shorter there are other stocks that most likely will outperform GDO.
> 
> PVF.




Just a casual look at DRA, I would be interested to know what P/E you got for them and why you think they are a good buy? It looks like ~7


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## BananaCake (20 January 2011)

hmmmmm

decisions decisions,

NAV or GDO =-/

time for a coffee then studying into NAV and maybe move GDO =/



So those who are currently investing within GDO would more so be holding onto them for long term until they clear there debts or minimise debts which is targetted for 1 year?


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## noco (20 January 2011)

TabJockey said:


> It was 800 inc. admin and according to the last announcement "progress has been made reducing cost per ounce" and 600-650 an ounce is a more likely long term average. Not exactly sure what they are running at over at NAV in the present though, but their q4 report should be out shortly.
> 
> Assuming novo's figures are correct, 80M in debt to 24M in assets is a riskier prospect, and you would expect to be compensated for that risk with capital growth which is not happening in the market. The debt also effects the earnings, a very rough EPS estimate for 2011 with GDO would be 6-10c (which would pay off its debt in about a year).
> 
> ...




NAV have assets totaling $20,769,00
Liabilities $24,246,00 inc. debt of $15,188,00, however that may now be in the vicinity of $12,000,000. Their cost of production is almost twice that of GDO.

http://www2.aspecthuntley.com.au/pdf/comsec/aer/today/NAV_cp.pdf


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## TabJockey (20 January 2011)

In my approach I don't give a large weight to book assets, I just compare how much money is going to be earned for me, for how much money I have to pay for a share, and I compare that risk/return to its contemporaries. I am going to be out long long before any liquidation takes place if it goes down that road. 

GDO has a significantly lower production cost per ounce but wouldn't you agree that its prospective earnings per share is 6-10c? And that it has risk factors that some of its contemporaries do not?


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## BananaCake (24 January 2011)

another drop in SP today =/


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## ParleVouFrancois (24 January 2011)

RE: Tab, soz man been dying of infection (not literally dying but feels really bad). Anyway I guess with your last post mine is going to be useless for you but for the others who weight book value, DRA has zero debt, cashflows 30+ million a year, 28 mill in the bank as of October (more by now), has another two mines in the pipeline, and a 40% interest in the "Weld Range Metals" project, NPV of 681 million 10% risk adjusted, all for a market cap of ~130 million fully diluted. Management previously had a buyback in place but cancelled it, the money is probably going to be needed for Weld and the two new mines, one due this year one next year from memory.

Anyway back onto the real topic on hand, GDO, in relation to most gold projects it's undervalued, however the assets are still relatively quality. I've run the numbers over NAV, and it's an attractive company but only while gold prices are high, it's extremely leveraged to the gold price, so a short term price reduction of 10% will hurt them more than GDO due to the maths behind cost of production vs sale price, but by the same token NAV has more upside if the POG keeps marching up. Either way I rate GDO's gold mines higher than NAV's gold mines (mines = all exploration and production projects), and that might just be me, obviously other people will appreciate NAV more. Anyway in summary, I don't think arguing X is better value than Y is a good use of time when both are incredibly undervalued. Hopefully we both make buckets of cash, the fundamentals certainly indicate that we will so all that's left is for the prices to more accurately reflect them.

PVF.


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## BananaCake (25 January 2011)

Whens the next announcement due? end of jan or the 28th? 

anyone know?


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## Tyler Durden (29 January 2011)

BananaCake said:


> Whens the next announcement due? end of jan or the 28th?
> 
> anyone know?




31st of Jan. Either someone out there knows something we don't, or this is the most under-valued stock on the ASX.


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## TabJockey (29 January 2011)

Tyler Durden said:


> 31st of Jan. Either someone out there knows something we don't, or this is the most under-valued stock on the ASX.




Its usually the former, but im going to run some models tonight to see at what point I would buy. You would think there should be great value in anything <30c.


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## TabJockey (29 January 2011)

ParleVouFrancois said:


> RE: Tab, soz man been dying of infection (not literally dying but feels really bad). Anyway I guess with your last post mine is going to be useless for you but for the others who weight book value, DRA has zero debt, cashflows 30+ million a year, 28 mill in the bank as of October (more by now), has another two mines in the pipeline, and a 40% interest in the "Weld Range Metals" project, NPV of 681 million 10% risk adjusted, all for a market cap of ~130 million fully diluted. Management previously had a buyback in place but cancelled it, the money is probably going to be needed for Weld and the two new mines, one due this year one next year from memory.
> 
> Anyway back onto the real topic on hand, GDO, in relation to most gold projects it's undervalued, however the assets are still relatively quality. I've run the numbers over NAV, and it's an attractive company but only while gold prices are high, it's extremely leveraged to the gold price, so a short term price reduction of 10% will hurt them more than GDO due to the maths behind cost of production vs sale price, but by the same token NAV has more upside if the POG keeps marching up. Either way I rate GDO's gold mines higher than NAV's gold mines (mines = all exploration and production projects), and that might just be me, obviously other people will appreciate NAV more. Anyway in summary, I don't think arguing X is better value than Y is a good use of time when both are incredibly undervalued. Hopefully we both make buckets of cash, the fundamentals certainly indicate that we will so all that's left is for the prices to more accurately reflect them.
> 
> PVF.




Sounds like your doing some quality analysis there PVF, NAV is leveraged to the gold price as you say but its price correlation to it is not very strong.

When I run DCF's I use a 12% factor for large caps, 15% for medium and 20% for small (50-300m for me). Do you factor in geo political risk when discounting a company like GDO? I like to err on the side of caution so I would use 20% as opposed to your 15% for such a company but its probably a bit heavy handed.

Do you ever use Black Scholes to value mines?


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## noco (7 February 2011)

Here are some interesting facts and figures presented to an Invester presentation. Hope all share holders find them beneficial.
http://imagesignal.comsec.com.au/asxdata/20110207/pdf/01148796.pdf


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## TabJockey (7 February 2011)

noco said:


> Here are some interesting facts and figures presented to an Invester presentation. Hope all share holders find them beneficial.
> http://imagesignal.comsec.com.au/asxdata/20110207/pdf/01148796.pdf




Translation: I hope some people believe it, buy the stock and help dig me out of this hole!


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## Sean K (7 February 2011)

TabJockey said:


> Translation: I hope some people believe it, buy the stock and help dig me out of this hole!



There is obviously something wrong with this company.

Or the market is absolutely stupid.

 Resource base of >21 Moz, including 8.60 Moz in measured & indicated category
 Reserve base of 1.53 Moz 

Market cap around $250m.

Something is seriously amiss here.

Maybe like CTO having 10m oz at 14 g/t.


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## ParleVouFrancois (7 February 2011)

Yo Tab, someone mathematically minded as you might be horrified, but I don't really use that much complex analysis such as Black-Scholes (I'm somewhat familiar with the maths, but I don't use it). I just search for companies where the company is so cheap that you don't need complex maths to justify the investment, e.g. GDO with a probable PE of 4. Even a 12 year old will tell you that 25% a year sounds good when the bank is only offering 6-7%.

To Kennas, I think the only thing amiss here is the perceived risk of investing in South Africa, sure it's not a Canada or Australia of investing, but it's almost certainly not as risky as the discounts applied to ASX listed companies imply. The "wrong" thing you are talking about is pretty much this company, up until now it's been plagued by problems, BEE implementation, labor force striking, and financing for the bonds option, these are all just recently sorted and production is starting to hit targets. 

Realistically I'd expect GDO to stay this cheap for another quarter, maybe two as the market gets used to the idea of GDO being profitable, instead of problem plagued. 

Oh and I loled at the comparison with CTO, GDO is actually improving the production as promised, unlike CTO and their "1000 ounces produced this quarter!!! Brilliant news!! Everyone be happy and hand over some more cash".

One other "cosmetic" problem I see is the name of this company, it just sounds dodgey, Gold One International, it needs a name like "African Goldmines" to get it sounding like an official producer. Just my probably incorrect opinion.

PVF.


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## Charles (16 March 2011)

Note: I'm still a beginner. 

I read through this whole thread and no one has made mention of the annual report figures or the newest announcement? It seems that GDO has got their assets/debt situation into a more favourable position. On top of this they have had good figures for the first two months on the year, indicating that they may very well be on their way to exceeding there target.

Furthermore, a pre-feasability study for the Ventersburg project is on its way at the end of Q1.

So, from my newbie perspective, it seems like a lot of the worry related to GDO's risk profile may have dissipated with the most recent balance sheet and safe Q1 production figures.

Still a beginner, so correct me if I'm wrong, which I probably am.


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## Hurricane (19 March 2011)

Hi Charles, i think GDO's higher risk profile has more to do with the geo-political issues that exist in the country they're based - namely South Africa.
There is an underlying risk there that they will at some point move to nationalise the country's mining assets. 

I'm no expert on the subject so maybe some of the more clued up posters could comment.


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## ParleVouFrancois (19 March 2011)

The South African government would have to compensate the assets seized in a nationalization of the mining sector. Compensate as in, pay a reasonable amount of money for each mine. The results of the nationalization will probably alienate many political allies, and will most likely reduce investment in the country by foreigners to zero for mining. 

That all being said I personally think that the South African government won't nationalize their mining industry, it just doesn't make sense, they get tax and employment from companies investing there. If anything they should be taking steps away from nationalization and making South African a more investment friendly place (not saying that it isn't, but it could be improved).

Also imo the price of the shares of GDO has been reflecting the results of last year or the year before, GDO was in a pretty messy situation before, with Black Economic Empowerment negotiations on, the workforce striking, missing production targets and a potential bond maturity that could have perhaps collapsed the company. Since those days GDO has improved to be almost unrecognizable from itself two years ago or so, all the above issues are solved, with production running AHEAD of scheduled 120k ounce per annum (at 120k per ounce per annum GDO is trading on a PE of about 4).

So it's really up to what you believe is making GDO cheap, is it just the (unjustified) fear of nationalization of South African mining assets, or is it just ignorance by most people as to just how much GDO has improved as a company. Personally I'm quite big on GDO (having done quite a lot of research, it definitely lines up as an interesting investment).


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## Hurricane (20 March 2011)

Don't get me wrong, I hold GDO - but the bottom line is, the risk is there whether it's plausible or not and the market would be taking that into account. I would be very hesitant to predict what any politician is going to do, especially in Africa : )


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## noco (23 March 2011)

GDO is looking very healthy ATM. SP appears to rising every day. Have been with them since the BMA days and I must congratulate the directors for turning this company around. 
Can only see a bright future for this show and I'm staying with them.


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## tothemax6 (23 March 2011)

ParleVouFrancois said:


> So it's really up to what you believe is making GDO cheap, is it just the (unjustified) fear of nationalization of South African mining assets, or is it just ignorance by most people as to just how much GDO has improved as a company. Personally I'm quite big on GDO (having done quite a lot of research, it definitely lines up as an interesting investment).



PVF, how do you go about valuing such a company? I.e how do you come to the conclusion 'I think exploration company A's share is worth about $5'. I know you are big on small-cap resource/exploration stocks, I have difficulty on working out how to gauge if these are cheap or expensive when they are not yet returning a profit. 
Cheers!


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## ParleVouFrancois (24 March 2011)

It comes from experienced I guess, GDO is cheap due to trading on a probable PE of 4 (if they make 120k ounces of gold this year). It basically comes down to judgement, some ores/minerals are worth x per tonne as a rule of thumb, depending on what level of JORC resource they are (inferred indicated etc). 

One thing I LOVE about companies is the lack of a need to raise money for further development of the resources, things like CAP and LNC have such brilliant management that they fund themselves, one of the biggest problems of small caps (even ones with economic deposits) is that BIG capital raisings are required, so that helps me find if a company is cheap. It's the additional of several factors all together which makes me conclude that a company is cheap, there is no one thing to look for, it's a bunch of things all together which forms a brilliant company at a cheap price, perhaps I'm wrong with my judgements, perhaps I'm right. A company has to be REALLY cheap to get me interested though, as in several 10's of percent lower than it's "real" value according to me.

I'm sorry if that didn't explain adequately, been having trouble sleeping recently so perhaps that made little sense LOL.


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## Gar (31 March 2011)

Anybody notice this interesting little tidbit in today's speeding ticket


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## Hurricane (31 March 2011)

Sure did : ) I'm up 58% on these guys already, hopefully that's just the beginning. 



"To the moon frank......."


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## VSntchr (19 April 2011)

Starting to research this gold stock, appears to be very cheap despite the good run its had lately. Im envious of those of you which got in a few months ago and are already sitting on 50%+ gains...
Will report back when I formulate some more interesting thoughts to talk about!


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## noco (21 April 2011)

GDO up 14% today. They are putting out some good results and are now grossly underpriced IMO.


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## VSntchr (27 April 2011)

Trading Halt.
Material acquisition.

With the size of the company I would have thought a more likely reason would be that they were the acquisition!

Will be interesting to see how management handles the acquisition to see what they are really made of!


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## drlog (28 April 2011)

VSntchr said:


> Trading Halt.
> Material acquisition.
> 
> With the size of the company I would have thought a more likely reason would be that they were the acquisition!
> ...




Looks like they are buying some gold/uranium miner for $250mil. I am guessing they will fund the acquisition through debt (the announcement doesn't say I don't think). Any thoughts?


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## TabJockey (28 April 2011)

250m is not pocket change for GDO. A very interesting aquisition, looks like a high cash cost asset also.


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## VSntchr (5 May 2011)

TabJockey said:


> 250m is not pocket change for GDO. A very interesting aquisition, looks like a high cash cost asset also.




Yeah, I really couldn't piece together this acquisition. Its for $250m right...which is bigger than  the entire value of Gold One, is it not?
Debt to Equity will now be through the roof. I also  disliked the way they went about saying  "we have the right to issue more shares should funding fall short".

We should not be told what management has the right to do! They really could have worded that a lot better.

Whatever happened to shareholders being the kings and management being the sword wielding knights? 

Anyway, ive been trying to get out all week....I had a nice little profit at one stage...and each day my sell order was just missed...and each day I would lower it...and still miss...finally today I realised that sometimes I need to know when to cut my losses and just take the market price. I can't let this one keep going, finally happy to say that I'm out.

Will still watch with interest to see how the acquisition pans out, but definitely doesn't make investment grade for me any more - which is a shame because I thought this was a initially a great undervalued company with good exposure to gold.


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## Intrinsic Value (5 May 2011)

I was interested in this one but I decided on Ramelius in the end and now that they have made this acquisition I am glad I didnt buy them.


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## mikem (11 May 2011)

Not to happy about the take over either.
been a holder for about 6months so made a good profit so far.
At least the SP has steadied now and even recovered a bit.
Interesting to see how they fare in the future.


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## mr. jeff (12 May 2011)

mikem said:


> Not to happy about the take over either.
> been a holder for about 6months so made a good profit so far.
> At least the SP has steadied now and even recovered a bit.
> Interesting to see how they fare in the future.




discussion in the fin review - street talk about GDO and its acquisition. What don't you guys like about it? I haven't looked into it, but if they have bought a producing asset -

163k Oz/year production with 13MOz resources for $232M that seems like a pretty decent deal - wait for margins of course, but further investigation is warranted - an operation of that production size on it's own here would be worth similar to Integra's or SLR's market cap, I think they paid a good amount for instant production. 
will look further, but lets dig this ground over and see what is there - may be an excellent opportunity.


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## VSntchr (12 May 2011)

My problem is the size of the acquisition, combined with the fact that it is funded by debt. debt to equity is through the roof now, any substantial contraction in commodity prices could be enough to ensure they cant meet interest payments.


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## mr. jeff (12 May 2011)

VSntchr said:


> My problem is the size of the acquisition, combined with the fact that it is funded by debt. debt to equity is through the roof now, any substantial contraction in commodity prices could be enough to ensure they cant meet interest payments.




Valid point, if they are producing 139kOz/year then they will be generating somewhere near $76M at $550 margin/oz. That will mean 4 years at this price to pay back the project. If the price comes off that will crimp their investment, so in that regard it is risky. depends on POG outlook and exploration success - if they can prove up more resource then their MC/debt will decrease (does it work like that?) and make things more manageable assuming they have the cash there to do it. 
Looks like they want to leverage hard into their own bullish forecast of gold.


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## noco (13 May 2011)

GDO has gone into trading halt today. Anyone know why?


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## VSntchr (13 May 2011)

noco said:


> GDO has gone into trading halt today. Anyone know why?



 Announcement says: due to change of control.

could this be the Chinese buyer taking over GDO? Perhaps that would explain the latest acquisition. I get a feeling that there is alot that management isn't declaring to shareholders...and it seems ASIC agrees with me judging by the announcement earlier in the week....


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## bellzah (16 May 2011)

16 May 2011


> *Cash Offer to Gold One Shareholders of A$0.55 per share*
> *Transformational Transaction for Gold One and Introduction of a Strategic Partner with a Minimum Capital Injection of A$150 Million*
> 
> Offer of A$0.55 (ZAR4.08*) for Gold One shareholders wishing to exit
> ...




So... A$0.55 per share for those looking to exit?

I hold at present but need to look into this offer in more depth.

What's everyone's thoughts?


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## TabJockey (16 May 2011)

I reckon take the money and get back in at lower prices in a few months.


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## VSntchr (16 May 2011)

Really pissed they cudnt have done this before they announced that acquisition last week, that way I would have still been holding and would have locked in a nice 30% profit.


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## titus (18 May 2011)

Anyone know what the record date is for being a shareholder to get the 55c offer?


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## PinguPingu (18 May 2011)

From what I understand the offer opens on the 22 June and closes on 21 September (unless extended), so I *think* that means the target share period is within those dates? I could be completely wrong.


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## noco (18 May 2011)

PinguPingu said:


> From what I understand the offer opens on the 22 June and closes on 21 September (unless extended), so I *think* that means the target share period is within those dates? I could be completely wrong.




In conversation with One Gold, they advised the offer of 55cents is optional. You do not have to sell if you don't want to and furthermore it has to be approved by share holders at a special general meeting.

The Chinese are after 75% of the issued stock.

I expressed my concern if the Chinese hit 90%, share holders could be forced to accept their offer of 55 cents. There will be no cap on that 75%.

The directors will recommend you sell at 55 cents for one reason or another.

I am refusing to sell and I hope other shareholders do the same. 

I believe these stocks are under priced.


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## noco (25 July 2013)

The Chinese now hold more than 90% and yet the share price has almost doubled in one week.

Does somebody know about an offer by the Chinese to buy out the remainding 10%?

I have noted the price has stalled at 22 cents with lots buyers  still seeking this stock.


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## System (6 February 2014)

On January 30th, 2014, Gold One International Limited (GDO) was removed from the ASX's official list following the compulsory acquisition of the Company by BCX Gold.


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