# BDG - Bendigo Mining



## Profitseeker (15 March 2005)

Hi,

I have not seen any mention of BDG on the forum which is strange because it is creating a lot of interest at the moment. This stock is performing strongly at the moment. They have just pushed forward their production date. Share price has fallen today so could be a good chance to get in. Does any one hold or have any views on the stock? Do you own research.


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## Profitseeker (21 March 2005)

It is up 8% today. Looks like it is breaking out.


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## Profitseeker (21 March 2005)

Up 16% now to 1.45. Does anyone know why this share is taking off?


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## el_ninj0 (21 March 2005)

Damn it. I was watching them since you posted this first. Disapointed that I didn't see it coming. Could have made a nice profit.


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## Profitseeker (21 March 2005)

They could fall back to between 1.20-1.25 due to profit taking. That is a trigger for me to invest more. Some brokers have put a valuation of about $2.00 on the stock. I would sell if it reached that though.  Do your own research though.


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## el_ninj0 (21 March 2005)

you would buy if it came back down to 1.25?
what makes you so sure its going to go back up?


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## Profitseeker (21 March 2005)

Mainly because of what i have been reading about the stock. They will begin production in early 2006 and when they do so, I feel that this will push the stock price up to higher than what it currently is.


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## Profitseeker (1 April 2005)

Price is down.


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## el_ninj0 (1 April 2005)

Profitseeker said:
			
		

> Price is down.




Sure is, .


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## Profitseeker (19 July 2005)

Begining to look good again. Depth is building.


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## andrew_c2o (19 July 2005)

Yes I bought into this too a few days ago, I believe it will go up quite high eventually


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## Profitseeker (19 July 2005)

Good to hear. There has been a lot of sudden movement recently. Could be because it is beginning to get media coverage.


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## Profitseeker (4 October 2005)

*BDG - Bendigo Mining - Trading halt*

Company requested halt. ANy ideas why?


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## markrmau (4 October 2005)

Reread announcement. Looks like they need more moolah.


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## Profitseeker (4 October 2005)

Not sure if i like the look of this. Any body get any views on this equity raising?


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## markrmau (4 October 2005)

Read todays AFR. Some equity managers are saying some good things about BDG.

I think I will buy into any negativity surrounding this announcement. I think it will drop, but it doesn't always.

Note - this is not advice for you to buy,sell or hold this or any other security.


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## Profitseeker (5 October 2005)

I agree. In the long term this one has to be a win.


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## PoINT5 (5 October 2005)

sourced from huntleys.
Bendigo Mining (BDG) announced the terms of a pro rata equity issue and a simultaneous placement of shares to institutional investors, to raise a total of approximately $140m. The company plans to use the capital raised to fund the continued development of the Bendigo Gold Project. BDG remained unchanged at $1.15.


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## markrmau (5 October 2005)

Huntleys said:
			
		

> BDG remained unchanged at $1.15.



ROFL. Still in trading halt.

Anyone know when it will open?

Expected price approx 94c?


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## Profitseeker (4 November 2005)

markrmau said:
			
		

> ROFL. Still in trading halt.
> 
> Anyone know when it will open?
> 
> Expected price approx 94c?





Seems to have done quite well. Price picked up again today. I hope it continues.


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## Profitseeker (7 November 2005)

Just announced that JP Morgan have increased their substanial shareholding. :


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## Profitseeker (11 November 2005)

International  




Friday November 11, 9:43 AM 
INTERVIEW:Australia's Bendigo Woos Global Gold Investors

   By James Attwood
   Of DOW JONES NEWSWIRES

SYDNEY (Dow Jones)--Australia's Bendigo Mining Ltd. (BDG.AU) appears to have finally found its way onto the radar screens of global gold investors. 

ADVERTISEMENT


Last week Bendigo closed an equity issue that swelled its bank balance by A$133 million to around A$200 million and sets up the company to deliver on its six-year goal of reaching annual gold output of 600,000 ounces. 

London-based Merrill Lynch Investments raised its holding in the prospective miner to 10.5% in the issue, while Singapore-based APS Asset Management's participation kept its stake at 12.6%. 

The transaction also attracted "one or two" new institutions, reflecting easing concerns over the project's technical risks, said Managing Director Doug Buerger. 

"We've got some real heavyweights on the register now so quite clearly the eyes of the gold investors are firmly fixed on Bendigo," Buerger told Dow Jones Newswires. 

Until now the market has been wary of Bendigo's bold plan of tapping into an estimated 11 million ounces left underneath the most prolific field in Victoria state's gold rush of the mid-1800s. 

A major concern has been the project's "nuggety" and therefore fluctuating grades and the logistics of working a massive ore-body spanning 17 kilometers by four kilometers, much of which lies under populated areas. 

Those inherent challenges, sagging gold prices, the dilutionary impact of previous share issues and the exit of major shareholder Harmony Gold Mining Co. (HARJ.J) saw Bendigo's share price sink from A$2.80 in mid-2002 to below A$1 in September this year. 

But after spending A$100 million-plus over seven years to "normalize" the project's technical risks, Buerger said the company's fortunes are turning around. 

The share price has crept back to around A$1.10 in recent months in line with rising gold prices and is expected gain momentum once the explorer and developer officially becomes a producer. At current market prices the company is valued at A$333 million. 

That's scheduled to happen in June when Bendigo fires up a A$54 million processing plant, part of a A$128 million first phase designed to produce an average of 140,000 ounces a year, ramping up to 200,000 ounces over 25 years. 

The real pot of gold, however, is in the shape of a A$247 million second mine and plant expected to take output up to 600,000 ounces from 2010-2011. 

That would lift Bendigo into mid-tier status and put the company on par with current output levels of Australia's second largest producer Lihir Gold Ltd (LHG.AU). 

After a series of cost estimate upgrades, Buerger said the first plant and underground development are on budget and schedule. "Everything points to getting into production by June," he said.


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## Profitseeker (14 November 2005)

Up  3.20% today. Looking good especialy after the issue of new capital.


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## Profitseeker (17 November 2005)

Yes lift off.


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## Profitseeker (18 November 2005)

Its breaking out. Anyone take up the share placement and as happy as I am?


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## Happy (18 November 2005)

I took up the offer with hope that price collapse is not going to wipe out the difference before I dump my parcel.

My initial stop was $0.95 , now parcel will be sold $1.03 with target $1.45 to $1.60

I am surprised, as usually with such a discount price takes quite a dive, well never assume anything.


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## serp (22 November 2005)

Isn't gold stocks the darling of the asx this year? 

Personally I think BDG is a good investment, maybe it doesn't have the upside of a year ago.

Family member purchased shares in BDG a few years ago, I bet they are happy now  

PS - I don't own or ever have owned any BDG.

*EDIT* Haha or not! The SP use to be over two dollars a few years ago! They are probably wishing that it will recover to that sort of level again!


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## Happy (22 November 2005)

Serp,
Possibly, if they bought 1998 or 1999, probably break even if bought on the dip 2000 or 2001, and not yet if bought between 2002 and 2004


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## Profitseeker (23 November 2005)

*Takeover target?*

Gold boom boosts interest in miners
Wednesday, 23 November 2005 

BENDIGO'S two major miners are cashing in on the booming price of gold. 
Bendigo Mining's share price has soared in recent weeks, on the back of an 18-year high in the price of gold. 

Yesterday, the company's share price closed at $1.315, after dipping below $1 in May. 

There is increasing industry interest as the company remains on track to begin gold production in June, with recent media speculation of a possible takeover bid. 

Perseverance Corporation has also benefited as the gold price nears US$500 an ounce, with its share price rising in recent weeks. 

Bendigo Mining managing director Doug Buerger said because the company was not yet producing gold, the booming price was not having a major impact. 

"We've got the capital we needed to build the mine and the present price is not affecting us, but what is affecting us is the sentiment in gold companies," he said. 

"There is a more positive sentiment in wanting to invest in gold companies, and Bendigo Mining is seen as a good alternative for investment, so we are seeing a lot more interest in buying Bendigo Mining shares." 

He said the company was not soliciting interest for any takeover bid. 

"What we've got to do is focus on building the mine and getting on with that." 

Perseverance Corporation managing director Graeme Sloan said the Fosterville mine was expected to produce between 25,000 and 30,000 ounces of gold in the December quarter. 

The company is hoping to start its underground operations in late December or early January. 

Mr Sloan said the gold price was helping to offset increased production costs. 

In the past 12 months, costs had increased between 25 and 35 per cent, he said. 

"There are extreme pressures on materials and skilled people, just to name a couple," he said. 

"Some companies in the more remote sites of Australia are offering enormous differences in salaries and wages just to attract people, and that's putting lots of cost pressures on everyone else."


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## Profitseeker (28 December 2005)

Seems to be breaking out today. Yes.


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## Profitseeker (5 January 2006)

Lift off again today. Is anyone on this enjoying the ride?


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## Profitseeker (11 January 2006)

Miner prepares for gold production
Wednesday, 11 January 2006. 10:00 (AEDT)Wednesday, 11 January 2006. 09:00 (ACST)Wednesday, 11 January 2006. 09:00 (AEST)Wednesday, 11 January 2006. 10:00 (ACDT)Wednesday, 11 January 2006. 07:00 (AWST)
Bendigo Mining has started stockpiling rock containing gold in preparation for commercial production at its Kangaroo Flat mine in June.

The company plans to boost its permanent work force from 180 to 220 in the next six months for the expansion.

Managing director Doug Buerger says another 100 construction workers are half way through building a $50 million processing plant.

"It's a fairly big processing plant and it's all being housed in a building so we can contain the noise because we are fairly close to residences, so at the moment it's one budget and at the moment it's also on time," he said.


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## Profitseeker (30 January 2006)

This is going to the moon!


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## Prospector (30 January 2006)

It is looking particularly fabulous! Big volume, and no production yet. And it was only last Novermber that the SPP was issuing shares for what - 80cents!  Glad I bought that lot!  It is becoming one of my best performing shares at the moment!


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## Happy (31 January 2006)

Word of caution is needed too. 

Current BDG trend is unsustainable and sooner or later it will be good idea to lock in some profits.


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## Profitseeker (2 March 2006)

Could be next step for a surge in the share price. 


Equity Strategy: Changes to S&P Aussie Indices to be Announced on Friday!

Standard & Poors (S&P) is due to announce the results of their Annual Index review pre-market this Friday. The changes have important implications for stocks as they affect whether an index tracking fund is required to alter their holdings in order to ensure their performance matches that of the index. The changes to the index will take effect as at close of trading on Friday the 17th of March. In the following note the Macquarie Securities Index team postulates which stocks will be affected by the changes.

S&P/ASX 100: The only standout here is the removal of the Ten Network (TEN) to be replaced by Goodman Fielder (GFF). The strong run by Worley (WOR) leading into its result may also result in it replacing Pacific Brands (PBG), although this is more likely to occur at the next review.

S&P/ASX 200: Whilst there are eight stocks currently above the inclusion buffer, the Index team don’t believe S&P will reflect the full number of changes. GFF, SP Ausnet (SPN), Spark Infrastructure (SKICA), Bendigo Mining (BDG) & Babcock & Brown Wind (BBW) are the standout adds, while Alinta Infrastructure Holdings (AIHCA) and Macquarie Media (MMGCA) are likely to be kept in reserve for takeover replacements throughout the quarter. Expected deletions include Ventracor (VCR), Thakral Holdings (THG), Peptech (PTD), Fleetwood (FWD) and MYOB (MYO).


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## mlennox (10 April 2006)

JP is buying the crap out of this stock lol  love it


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## ace42 (15 April 2006)

Hi all - my first posting. Live in BGO and have invested heavily in BDG.

As a kid I grew up right in the centre of the richest gold field on earth and saw the decline of mining. Mine after mine shut but it wasn't because the gold had run out. Mines closed because of two factors: 1> The water problem 2> The fact that the price of gold was fixed at 16 pounds and Oz.

Now we have modern pumps (in the old days they lifted the water out in buckets) and a floating gold price. 

The old miners (my grandfather amongst them) maintained that there was 3 times as much gold left under the city as what came out. The equation: 22000000 x 3 works out to  $US39600000000   :bricks1: (!) (they are really gold ingots) at current prices.

This will mitigate the fact that I missed out on ever enjoying the company of my grandfather who died at the age of 42 (1926) -from miners disease. 

Modern understanding of the perils of quartz dust and OH&S will ensure that BDG gives an extraordinary return with safety for all.

Just ask me if I am in for a happy retirement


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## Profitseeker (18 May 2006)

Could be a very good buying opportunity today considering the market conditions and the announcement out this morning.


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## Profitseeker (11 July 2006)

I was expecting a bounce by now. Thought the reaction was a bit severe but it hasn't recovered. The question that i am asking myself now is do I buy more or reduce my current position.


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## YOUNG_TRADER (11 July 2006)

Profit, do you use fundamentals or tech analysis?


I'm not much of a tech, but falling below $1.65/$1.80 was not good as it may signal the start of another bear period for this stock as it did from early 2004,


From a fundie point of view, stock has a mkt cap of $700m (approx) so it would definately be held by funds, also is a good long term exposure to gold, however its resource is a little complex and it has had industrial dispute problems of recent that have caused delays in first gold pour and also messed up with poduction forecasts,

I'd say hold, but its up to you, surely first gold pour will throw a bit of energy into this stock!


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## Profitseeker (11 July 2006)

Hi,

I try and use a combination of the two. I orginally bought the share .90 and gradually acumulated to 1.20 as I saw the potential in the share as a good investment. My intention has always been to accumulate (whilst keeping a fairly balanced portofolio) as much of this stock as possibility in anticipation of it been in full production as of 2011. However when i saw the stock fall below 2.10 i sold as I technically I thought this showed that the stock could be on the slide. Feelig quite happy that I did. However as i still see the long term prospects of this stock I do want to get back in and I thought I saw resistance at 1.60 and thought that round that level would be a good position to get back in especially with the impending news of gold production. Although I have just seen that it has broken below 1.60 so not feeling so bullish any more and a bit scared that there may be further for this stock to fall  before it turns which is why I am thinking of selling my remaining holding. Long term I do belive in this stock 100% though and I am just trying to pick the bottom.


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## Profitseeker (12 July 2006)

Up today. From a tech point of view if this stock closed above 1.65 would that be a sign that the trend could be reversing.


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## rub92me (12 July 2006)

I'm a bit befuddled by this stock, as it doesn't seem to want to recover from the May free-fall nearly as well as the other gold mine explorers. I noticed also that one of the institutional investors had been off-loading quite a bit of it as well. Fundamentally still 100% behind this one so I bought another parcel for around 1.63, with quite a tight stop though. Now if only the gold price would do another 20% rise...


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## Profitseeker (13 July 2006)

I bought some at 1.61 with a long term investment view. I am not trading it at the moment as I feel it is just ranging. If it breaks through 1.65 and looks like holding I would buy some to trade with anticipation of it going on a little run. I am confused as well that the stock has fallen so far and also not recovered. Sure production has been delayed but it is not far now so I would have expected it to  get back over $2.00. I think it will and once it starts it will get there with speed.


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## Profitseeker (13 July 2006)

Dissapointing opening considering the price of gold. i was hoping it would be testing the resistance around 1.65


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## Sean K (13 July 2006)

I've been watching this for a turnaround profit. Looks like a long slippery slope on the chart with the next real support level way down at $1.30.   

Probably just needs some good news for a turn around. First gold pour should provide that surely. When's that due?


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## Profitseeker (13 July 2006)

Mid July- End July with production beginning in September. DO you really think it could slide to $1.30?


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## Sean K (13 July 2006)

Technically, that's the next support area, but it has shown some good signs recently with the bunching around $1.65 and the flatening and slight rise in MACD, but you want to see some positive divergence above the trend line. Does look oversold though.


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## Profitseeker (13 July 2006)

Thanks Kennas. I am looking for a break past 1.65 as a sign that it has rounded.


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## Kipp (13 July 2006)

kennas said:
			
		

> Technically, that's the next support area, but it has shown some good signs recently with the bunching around $1.65 and the flatening and slight rise in MACD, but you want to see some positive divergence above the trend line. Does look oversold though.




Kennas, what does a Descending Triangle pattern represent?  Is it a bullish or Bearish signal?


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## Sean K (14 July 2006)

With descending triangles there is a greater probability for the price to break down out of the triangle than to breakout and rally to higher prices. 

However, general market forces can alter any 'probability' and BDG having just poured it's first bar yesterday, and WWIV about to start in the Middle East, could be a pretty good driver upward.


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## Kipp (14 July 2006)

kennas said:
			
		

> With descending triangles there is a greater probability for the price to break down out of the triangle than to breakout and rally to higher prices.
> 
> However, general market forces can alter any 'probability' and BDG having just poured it's first bar yesterday, and WWIV about to start in the Middle East, could be a pretty good driver upward.



Thanks Kenna... all I needed to know.


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## Profitseeker (16 July 2006)

*Bendigo to be $2.50 again within next twelve months?*

Glittering outlook for stocksAnthony Black

July 16, 2006 12:00am
Article from: Sunday Herald SunFont size: + -
Send this article: Print Email 
ANALYSTS are bullish about gold and oil, particularly at a time of Middle East tension, Indian train bombings and nuclear development programs.

They say high gold and oil prices paint a bright investment outlook for several related stocks in the next 18 months. 
The gold price has risen by more 30 per cent this year and was trading at more than $US666 an ounce yesterday. Sean Conlan, of Macquarie Equities, forecasts the gold price to be at $US833 an ounce in 12 months. 

"The key fundamental drivers of the current rally remain strong -- global liquidity, fund buying and inflationary fears," Mr Conlan says. 

"In addition, this week's conflict between Israel and its neighbours, coupled with the Iranian and North Korean nuclear development programs, have also added further impetus to the gold price. 

"Given our bullish stance regarding the gold price in the next 12 months, we expect the Australian gold sector to outperform the broader market." 

Mr Conlan says Middle East tension is pushing the oil price towards $US80 a barrel. 

"But other events are worth noting," he says. "Political issues in Nigeria are placing constraints on Shell's production supply. The US hurricane season is upon us and is forecast to be one of the worst in history. This may affect the oil supply from the Gulf of Mexico. Russian production growth is beginning to wane in response to the Yukos oil company carve-up hampering foreign investment. Demand from China, though slowing, remains robust." 

BENDIGO MINING: Mr Conlan put a 12-month target of $2.50 a share on Bendigo Mining, which closed at $1.56 on Friday. 

He says the company forecasts production of between 70,000 and 90,000 ounces next year from a resource base of 11 million ounces. 

"Bendigo will earn more from a higher gold price because it is unhedged," he says. 

AGINCOURT RESOURCES: Mr Conlan says Agincourt is diversified and is increasing gold production to meet growing demand. 

"It offers good value and is trading at a discount to its peers of the same size," he says. 

LIHIR GOLD: Carey Smith, of State One Stockbroking, says the PNG producer will lift production from 800,000 ounces a year to a million ounces in the next two years in response to stronger global demand for jewellery, particularly from China and India. 

"Gold for more than 1000 years has been considered a safe haven in uncertain times," he says. "It can be easily converted into anything and is a hedge against inflation." 

WOODSIDE PETROLEUM: Oil at $US100 a barrel is a distinct possibility and Woodside is Australia's biggest oil and gas producer, Mr Smith says. It has big reserves to meet growing export orders. 

AED OIL: Mr Smith says AED will lift production from 15,000 barrels a day to 28,000 barrels in the next 12 months. The company is partially cushioned against oil price falls as 1.2 million barrels are hedged at $US72 for the next two years.


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## Profitseeker (17 July 2006)

Looks like buyers are building this morning although the sellers are still sitting there. I hope there are just enough buyers to smash through 1.65.


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## YOUNG_TRADER (18 July 2006)

Downtrend has continued,

I see strong support between $1.30 - $1.43

So will be interesting to see how stock fares over the coming weeks


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## rub92me (18 July 2006)

I'm stopped out. May come back in at 1.00 but looking for other opportunities first to make my money back...


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## Profitseeker (18 July 2006)

YOUNG_TRADER said:
			
		

> Downtrend has continued,
> 
> I see strong support between $1.30 - $1.43
> 
> So will be interesting to see how stock fares over the coming weeks




Glad I took a long term investment view on this one. If it breaks 1.40 I think 1.20 is the next support level. With production little over a month away it does blow my mind the way the share price is behaving though. As anyone got any idea why this is occuring? I hope there are no skeletons in the closet.


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## Profitseeker (18 July 2006)

rub92me said:
			
		

> I'm stopped out. May come back in at 1.00 but looking for other opportunities first to make my money back...





At what price did you get in?


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## rub92me (18 July 2006)

Profitseeker said:
			
		

> At what price did you get in?



Hehehe. Don't rub it in


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## Profitseeker (19 July 2006)

rub92me said:
			
		

> Hehehe. Don't rub it in




Ah ok. Sorry.


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## Profitseeker (19 July 2006)

Good bullish announcement out. More Gold discoverd which hopefully will increase the lifetime of the mine. Hopefully the rot will stop now and the bottom is found.


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## nelly (19 July 2006)

NEW gold producer Bendigo Mining has forecast a slight increase in capital costs at its namesake project in Victoria, and confirmed its 70,000-90,000 ounce production estimate in the current financial year following recent construction delays.

Capital costs are put at $A60-65 million, compared with an earlier forecast this year of $57 million. 

The Melbourne-based company said its 600,000 tonne per annum plant was now 95% complete and that full ore commissioning was set to be completed by the end of September.

Previously, the company was predicting the project would reach a rate of 120,000 ounce per annum by June, and build to 200,000ozpa three years thereafter.

Full-scale production of 600,000ozpa via a second mine and processing plant was expected to begin in 2011-12, though commencement of work on the second mine is now not forecast to begin until the December quarter as the company awaits regulatory approval.

Bendigo said the impact of this delay on the development schedule would be assessed once the approval has been received.

Shares in Bendigo were up 1c (0.7%) at $1.47 in morning trade. The stock was at $2.55 just over two months ago.

From Mining News

Cheers


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## Profitseeker (20 July 2006)

Nice open. Looking good.


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## Profitseeker (30 July 2006)

Around the Markets: Big returns sought in small mines  
By Madelene Pearson and Tan Hwee Ann Bloomberg News

Published: July 28, 2006


MELBOURNE Surging gold prices this year have put bullion miners among the best-performing Australian stocks. And some investors are thinking anything but big.

The smallest producers among them, including Bendigo Mining and Agincourt Resources, now are set to outperform such giants as Newcrest Mining, said Michael McCormick, a manager at Leyland Private Asset Management who owns shares of Bendigo and Agincourt.

Those two companies, along with Pan Australian Resources, Sino Gold and Dominion Mining, are exploring for bullion or starting production. Their stock prices should take off as output begins and the price of the precious metal stays high, McCormick said.

Jim Rogers, an investor who foresaw the start of a commodity rally in 1999, predicted in April that gold was likely to soar to $1,000 an ounce, or 28.3 grams, from $630 now. McCormick said that gold would approach the $873 record reached in 1980, possibly this year.

"There's still a huge amount of value in the Australian gold sector," said Rogers, a Sydney-based money manager. In any gold market, the strength usually starts with big companies and eventually reaches the smaller ones, he said. "You know you are in a bull market when the smaller ones are starting to run."

The stock of producers of raw materials including gold have risen 9.1 percent this year, based on their industry group within the Standard & Poor's ASX 300 benchmark index of Australian stocks. The index has gained 5.2 percent.

Bendigo, which is based in Melbourne, has fallen 10 percent and Agincourt, based in Perth, is 22 percent lower.

Other nascent producers that McCormick holds include Leviathan Resources, which is down 36 percent. Ballarat Goldfields, which is on his "watch list," is down 31 percent. Prices for start-up producers have fallen as other gold stocks pared their gains this year because the start-ups are thinly traded. That exacerbates market swings, he said.

Gold stocks also are among the best performers this year in South Africa and Canada as well. Gold Fields, based in Johannesburg, has risen 29 percent, and Bema Gold of Canada is up 88 percent.

In the United States, 15 of 20 gold mining companies with market values greater than $50 million are outperforming the S&P's 500 index.

Bullion futures are up 24 percent this year and reached a 26-year high of $732 an ounce in May. Oxiana, the second-biggest Australian gold miner by market value, has jumped 80 percent this year, among the best gains in the S&P/ASX 300. Resolute Mining has advanced 52 percent.

Companies that have not hedged, or locked in the price of the gold they expect to produce, and have output of 100,000 ounces or more a year will be among the best performers, McCormick said.

Newcrest, the biggest Australian gold miner by market value, produced 1.53 million ounces in fiscal 2006. The company has forward- sold about 88 percent of its forecast 2007 gold output, Merrill Lynch said in a report this week.

Bendigo Mining, which produced its first gold this month, is forecasting output of 200,000 ounces a year over three years, reaching 600,000 ounces a year at full production. It has not locked in future prices.

Ballarat Goldfields, which began gold output in December, is targeting production of 100,000 ounces a year, increasing to 200,000 ounces in three years. Its shares are up 10 percent in the past year.

Shares of smaller gold companies like Leviathan and Bendigo are trading at as little as half their net present value, giving them more potential for higher returns, said Pieter Bruinstroop, a commodities analyst at Ord Minnett in Melbourne. Net present value is a calculation of the current value of expected cash flows.

If Rogers's prediction of $1,000 gold is right, the rally in gold shares will not end soon. Rogers, who wrote the book "Hot Commodities," published in 2004, did not predict when the metal would reach that price.

McCormick said that the start-up miners would be the shares to own in that environment.

"You get more leverage from the emerging producers," he said.

 MELBOURNE Surging gold prices this year have put bullion miners among the best-performing Australian stocks. And some investors are thinking anything but big.

The smallest producers among them, including Bendigo Mining and Agincourt Resources, now are set to outperform such giants as Newcrest Mining, said Michael McCormick, a manager at Leyland Private Asset Management who owns shares of Bendigo and Agincourt.

Those two companies, along with Pan Australian Resources, Sino Gold and Dominion Mining, are exploring for bullion or starting production. Their stock prices should take off as output begins and the price of the precious metal stays high, McCormick said.

Jim Rogers, an investor who foresaw the start of a commodity rally in 1999, predicted in April that gold was likely to soar to $1,000 an ounce, or 28.3 grams, from $630 now. McCormick said that gold would approach the $873 record reached in 1980, possibly this year.

"There's still a huge amount of value in the Australian gold sector," said Rogers, a Sydney-based money manager. In any gold market, the strength usually starts with big companies and eventually reaches the smaller ones, he said. "You know you are in a bull market when the smaller ones are starting to run."

The stock of producers of raw materials including gold have risen 9.1 percent this year, based on their industry group within the Standard & Poor's ASX 300 benchmark index of Australian stocks. The index has gained 5.2 percent.

Bendigo, which is based in Melbourne, has fallen 10 percent and Agincourt, based in Perth, is 22 percent lower.

Other nascent producers that McCormick holds include Leviathan Resources, which is down 36 percent. Ballarat Goldfields, which is on his "watch list," is down 31 percent. Prices for start-up producers have fallen as other gold stocks pared their gains this year because the start-ups are thinly traded. That exacerbates market swings, he said.

Gold stocks also are among the best performers this year in South Africa and Canada as well. Gold Fields, based in Johannesburg, has risen 29 percent, and Bema Gold of Canada is up 88 percent.

In the United States, 15 of 20 gold mining companies with market values greater than $50 million are outperforming the S&P's 500 index.

Bullion futures are up 24 percent this year and reached a 26-year high of $732 an ounce in May. Oxiana, the second-biggest Australian gold miner by market value, has jumped 80 percent this year, among the best gains in the S&P/ASX 300. Resolute Mining has advanced 52 percent.

Companies that have not hedged, or locked in the price of the gold they expect to produce, and have output of 100,000 ounces or more a year will be among the best performers, McCormick said.

Newcrest, the biggest Australian gold miner by market value, produced 1.53 million ounces in fiscal 2006. The company has forward- sold about 88 percent of its forecast 2007 gold output, Merrill Lynch said in a report this week.

Bendigo Mining, which produced its first gold this month, is forecasting output of 200,000 ounces a year over three years, reaching 600,000 ounces a year at full production. It has not locked in future prices.

Ballarat Goldfields, which began gold output in December, is targeting production of 100,000 ounces a year, increasing to 200,000 ounces in three years. Its shares are up 10 percent in the past year.

Shares of smaller gold companies like Leviathan and Bendigo are trading at as little as half their net present value, giving them more potential for higher returns, said Pieter Bruinstroop, a commodities analyst at Ord Minnett in Melbourne. Net present value is a calculation of the current value of expected cash flows.

If Rogers's prediction of $1,000 gold is right, the rally in gold shares will not end soon. Rogers, who wrote the book "Hot Commodities," published in 2004, did not predict when the metal would reach that price.

McCormick said that the start-up miners would be the shares to own in that environment.

"You get more leverage from the emerging producers," he said.


----------



## Profitseeker (3 August 2006)

The tide seems to have changed.


----------



## Profitseeker (23 August 2006)

I hate being patient.


----------



## ace42 (23 August 2006)

Hi there,

BDG will be producing gold within the next 8 weeks - I live just 2 k from the mine (processing plant and it is about to go up and running. I can't work out why the price has drpped over th epast few weeks but it will surely fly upwards when the gold starts to pour. Have patience as all things come to those who wait!


----------



## blueroo (25 August 2006)

Annual Report to be released today so hopefully we will see a bit of upside on this languid stock. We certainly deserve it!


----------



## ace42 (25 August 2006)

Hi, good tings come to those who wait. BDG is a long term investment and worth sticking with - the maths 600,000 ozs per year x gold price/425000000 works out to a preety decent deal. I think you will find from the report that the mine is about to go into production as its processing plant is nearly completed. The good metal will flow shortly. I hope that we all enjoy the benefits.

Regards ace


----------



## Profitseeker (25 August 2006)

blueroo said:
			
		

> Annual Report to be released today so hopefully we will see a bit of upside on this languid stock. We certainly deserve it!





Arrrhh. no mention of when production commences.


----------



## ace42 (25 August 2006)

Hi blueroo. Bendigo has just this moment released there 2006 financial report and a media release. It contains details of production schedules etc.

Regards ace


----------



## blueroo (25 August 2006)

Yes, things seem to be going nicely for them.

Understatement by the MD in saying "I'm expecting a marked improvement in our bottom line relative to that achieved last year."

From a loss of $13mil last financial year, with no production and only "expecting a marked improvement" with at least 6 months of full production for the next financial year sounds like they are suffering a severe shortage of confidence down Bendigo way.

70,000 to 90,000 ozs. @ $350 average = ~$28mil 2006-07 year
Full production - 600,000 ozs. @ $350 average = ~$210mil 2007-08

Assuming of course gold remains around AUD$800.


----------



## Profitseeker (25 August 2006)

blueroo said:
			
		

> Yes, things seem to be going nicely for them.
> 
> Understatement by the MD in saying "I'm expecting a marked improvement in our bottom line relative to that achieved last year."
> 
> Isn't that because they will start further developement of the mine?


----------



## ace42 (25 August 2006)

Blueroo, there is 425,290,255 shares in BDG. A gold flow of $210,000,000 works out to 49 cents a share. With the price at 149 this will be a raw return of 32%. I know that this is a rough figure but it points to the potential of BDG to make good returns

regards ace


----------



## blueroo (25 August 2006)

ace42 said:
			
		

> Blueroo, there is 425,290,255 shares in BDG. A gold flow of $210,000,000 works out to 49 cents a share. With the price at 149 this will be a raw return of 32%. I know that this is a rough figure but it points to the potential of BDG to make good returns
> 
> regards ace



My thoughts exactly Ace42  

Profitseeker:
Yes you are right. It was my attempt at sarcasm because I was trying emphasize that he is stating the obvious that results are expected to be better because they are now a producer. They will want to give the game away if they are not better!

I still don't know if I got my meaning across


----------



## ace42 (25 August 2006)

Hi blueroo - I certainly hope that they will do better - I have a lot of money on this. Word is out around Bendigo that  they will go to $18 when full production hits. We must keep in mind the relatively low number of shares in the company - say comapred to Ballarat Mining ( they have over 1.5 billion and nowhere as much gold. The "18" comes as an opinion of some big the knobs out at Perseverance Mining - aother mine located near Bendigo) I hope that they know what they are talking about Cheers ace


----------



## Profitseeker (26 August 2006)

blueroo said:
			
		

> My thoughts exactly Ace42
> 
> Profitseeker:
> Yes you are right. It was my attempt at sarcasm because I was trying emphasize that he is stating the obvious that results are expected to be better because they are now a producer. They will want to give the game away if they are not better!
> ...




Ok. Sorry. I understand now.


----------



## ace42 (26 August 2006)

Hi Blueroo, just thought i would mention another stock - Cazaly Resources. Are you familar with this company? I have quite a bit of money in there after hanging on after a tenement that they applied for was rejected by Bowler, the WA Mining Minister.

Cazaly have since had legal advice to the effect that what the minister did was not at one with the WA mining act. They have been given the right toa judicial review and if they succeed the shares will go back through the roof.

Have a look at the CAZ home site and a read of the legal opinion so as to familarise yourself with it all (I am assuming that you are unaware of it all). Let me know what you think (if you think that you have the legal commonsense to make a reasonable judgement). There could be money to be made here. My impression after reading the legal opinion is that CAZ can't lose.

regards ace


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## Profitseeker (26 August 2006)

I am thinking of picking some cfds to offload on the announcement of production. i think there could be a nice up swing when that happens.


----------



## ace42 (26 August 2006)

I am a novice - what the hell are "cfd's"

ace


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## chennyleeeee (26 August 2006)

I might be wrong here but I read in their announcements a whiel abck that 600, 000 ounce/year is what they hope to achieve in 6 years time. But for the next 5 years, it would be just less than 200, 000 oz/yr on average. They are hoping to achieve $200 oz cost but I would say it would be about 450 oz cost for the next 5 years. (project update 28/06/2006) Gold being about $600 at the moment. $150 profit per oz, we would get roughly $30 million on average for the next 5 years. This gives it about a P/E of 20 since the market cap is about 600 million. I guess this isnt too bad but it wont be another 6 years until Bendigo starts to run at full capacity and we wont really know what might happen in 6 years time.

Over the next few years, Gold prices might tumble, reducing its profits substantially.

CHENNY


----------



## blueroo (26 August 2006)

ace42 said:
			
		

> Cazaly have since had legal advice to the effect that what the minister did was not at one with the WA mining act. They have been given the right toa judicial review and if they succeed the shares will go back through the roof.



Evening Ace,
I used to be in the Comsec chatroom and all the talk was about CAZ and about how good Shovelanna was. It was ramped/pumped day and night until Bowler made his remarkable announcement.

I'm not sure about taking on the big boys in a court as they have bucket loads of cash they can throw at appeals, etc. It could be tied up for years, but for all investors/speculators sakes, I hope not.

I have a couple of speccies already and don't wish to take on another at this stage. I wish you luck with it.


----------



## CanOz (27 August 2006)

ace42 said:
			
		

> I am a novice - what the hell are "cfd's"
> 
> ace




CFD's are Contracts for Difference. They are a derivitive that can be traded like options. They are highly leveraged, meaning that you can control a large amount of shares with a relatively small amount of money. There is plenty of info on CFD's on the net.

CFD's offer an experienced trader a way to control allot shares with less funds. But since you could get a call for those funds, if the stock goes against your predictiions, you really must be able to risk most of the funds anyway. 

You need to have a very good understanding of share trading first, backed up with a very sound risk management system before trying this. 

I have been tempted to get into CFD's myself but have deemed myself not ready yet. Etrade and other sites will want a minimum account bal. of 10k before allowing you to start trading CFD's.

All that said, CFD's offer an experienced trader exposure to large trades using smaller sums of capital, potential increasing gains.....and potentially...losses.

Hope this helps.


----------



## Profitseeker (27 August 2006)

chennyleeeee said:
			
		

> I might be wrong here but I read in their announcements a whiel abck that 600, 000 ounce/year is what they hope to achieve in 6 years time. But for the next 5 years, it would be just less than 200, 000 oz/yr on average. They are hoping to achieve $200 oz cost but I would say it would be about 450 oz cost for the next 5 years. (project update 28/06/2006) Gold being about $600 at the moment. $150 profit per oz, we would get roughly $30 million on average for the next 5 years. This gives it about a P/E of 20 since the market cap is about 600 million. I guess this isnt too bad but it wont be another 6 years until Bendigo starts to run at full capacity and we wont really know what might happen in 6 years time.
> 
> Over the next few years, Gold prices might tumble, reducing its profits substantially.
> 
> CHENNY




I think you right Chenny. The big upside I see is in a takeover bid while over goldies can use script.


----------



## Freeballinginawetsuit (1 September 2006)

BDG is looking peeeerrfeeeect at the moment for a T/A trade on Monday at open with volume confirmation. 

Not actually sure on BDG'S fundamentals though just purely a chart trade!

Anyone else agree?


----------



## CanOz (1 September 2006)

It does look like the early stages of a breakout but i would like to see more volume and another long candle breaking out of the upper B.Band before i jumped in. 
The gold price has been slowly trending up the last week, and could be contributing to some price gains in the producers. If i were to look for a gold share i think i would go for LHG, but we need to see a strong rally in the gold price.


----------



## Freeballinginawetsuit (1 September 2006)

CanOz said:
			
		

> It does look like the early stages of a breakout but i would like to see more volume and another long candle breaking out of the upper B.Band before i jumped in.
> The gold price has been slowly trending up the last week, and could be contributing to some price gains in the producers. If i were to look for a gold share i think i would go for LHG, but we need to see a strong rally in the gold price.




Dont like LHG at all.

BDG has had a long retrace and I am assuming that its breakout should be strong. On the charts it is a perfect trade for Monday as long as it breaks with volume. I don't actually know much about BDG, just stating that a chart trade dosen't get much better


----------



## Profitseeker (2 September 2006)

Yep. Strong finish. I have followed this stock for a long time now and when it bolts; it bolts and it looks like it is getting ready to do so.


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## Profitseeker (4 September 2006)

I think we will see at least 1.70 this week.


----------



## Profitseeker (4 September 2006)

Whoa. Make that 1.80


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## CanOz (4 September 2006)

Looking like a breakout now! Great volume.


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## Profitseeker (6 September 2006)

I think we will see 1.80 today.


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## Freeballinginawetsuit (6 September 2006)

Profitseeker said:
			
		

> I think we will see 1.80 today.




Probably soften up a bit, not as strong a break/momentum as Friday charted.
Going to sell out today!


----------



## Profitseeker (6 September 2006)

Big seller appeared. Not you freeballing is it?


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## Freeballinginawetsuit (6 September 2006)

Profitseeker said:
			
		

> Big seller appeared. Not you freeballing is it?




BDG is great value, Profitseeker,you should buy some more!.

No seriously that is me, should get a few munches.


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## Profitseeker (6 September 2006)

Freeballinginawetsuit said:
			
		

> BDG is great value, Profitseeker,you should buy some more!.
> 
> No seriously that is me, should get a few munches.





Wish I had more funds. i would love to munch your shares.


----------



## Profitseeker (12 September 2006)

Ouch. hopefully the big seller has finished now.


----------



## Sean K (20 September 2006)

BDG coming into buy territory for me. Gold taking a hit offering a buying opp imo. Should find a little support at these levels with downside risk limited now. Should be very good support at $1.15/1.25. Looks to have been sacrificed for some reason. Perhaps the meteoric rise early in the year has just been reversed for the short term. At around $1.35 is hitting what might be a long term trend line too.


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## Sean K (20 September 2006)

Just picked a few up at $1.39. Hoping for gold bounce!


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## Sean K (20 September 2006)

Citigroup and Macquarie have $2.50 price targets on it.


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## Freeballinginawetsuit (20 September 2006)

kennas said:
			
		

> Just picked a few up at $1.39. Hoping for gold bounce!





Jumped on board again today also as I sold out of these guys a couple of weeks back and I do like them!.


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## Profitseeker (28 September 2006)

Gold up. Production looming. Attention in the media. Some big buyers in the market depth. Could the expected surge be on soon?


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## Profitseeker (2 October 2006)

Annoucement out. Commercial Production has begun. It will be interesting to see what it does to the share price tomorrow.


----------



## Sean K (3 October 2006)

Profitseeker said:
			
		

> Annoucement out. Commercial Production has begun. It will be interesting to see what it does to the share price tomorrow.




Oil and gold down overnight will temper any excitement today (unfortunately) I think.


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## Profitseeker (4 October 2006)

What a joke. Patience is a virtue though.


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## Bullion (4 October 2006)

I luckily sold out yesterday at 1.405... may look to get back in once gold settles a little...


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## Sean K (4 October 2006)

My out is around $1.25. So, maybe I'll be out this arvo!   

Gold might settle at $570 or even head to $540. After that, north again. The EW dudes are thinking that too I think.


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## Profitseeker (4 October 2006)

I thought historically gold surged in october though? Is this true and is a surge still on the cards according to the charts?


----------



## Sean K (4 October 2006)

Ouch. 6% down. $1.31. Looking sick. 

Company announces it's just started commercial production, JP Morgan up their stake to 12% and wham! Obviously being unhedged is dangerous when gold slips a few $$$. 

$1.25 doesn't even look safe to me now. Maybe $1.20 and then $1.00 is possible. 

Obviously, if gold bounces this will too......


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## YOUNG_TRADER (4 October 2006)

If $1.30 gives (ie down to say $1.20 for a few days) then I see 80c as next stop down,


Sean you get my PM?


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## Freeballinginawetsuit (4 October 2006)

Certainly teetering on its SP support level at the moment, even a couple of cents below it at todays close. 
Golds not to flash ATM, XMJ copped a hammering today and most gold stocks are just hanging in their. 
BDG's not the only one looking a bit shakey, BSG copped a hammering today, SBM is at its support, LHG had a bad day, as with as with the other goldies.

Will be interesting to see what tommorow brings for BDG, can it actually tank even further (don't think so!, unless the bottom falls out of gold). More than likely it will have a small rebound to the mid $1.30's, Today's SP fall seems a bit overdone. BDG's seems to have a lot of potential as a junior.

If it BDG falls below $1.25, I reckon a lot of stops will get hit and the SP will look sad for sure, wouldnt want to be holding below $1.25.


----------



## rub92me (9 October 2006)

Whoa, look at what just happened with this one... Down grading of some of the resource by one third...


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## finnsk (9 October 2006)

Freeballinginawetsuit said:
			
		

> If it BDG falls below $1.25, I reckon a lot of stops will get hit and the SP will look sad for sure, wouldnt want to be holding below $1.25.



In freefall at the moment there most be something bad happening 
Was about to buy this one the other day thought I better read what other people had of opinion here on ASF. Thank you very much for your posts  

Finnsk


----------



## Sean K (9 October 2006)

Ouch.

Bounced off $0.95, down at the lower support level. Oversold I think. Can't imagine there being too much more selling from down here. The lowest anyone has paid for this stock over the past 2 years is about $0.85.


----------



## Freeballinginawetsuit (9 October 2006)

kennas said:
			
		

> Ouch.
> 
> Bounced off $0.95, down at the lower support level. Oversold I think. Can't imagine there being too much more selling from down here. The lowest anyone has paid for this stock over the past 2 years is about $0.85.




Traded BDG a few times,done the fundamentals on it and I like it!.
Had a quick read of the announcement, seems that the third downgrade on its resource might just be on the perimeters.

Reckon todays reaction is overdone, on fairly low volume and it should bounce.

Anyway didn't have much time to make up my mind and I'm in for the big punt, heres hoping it bounces, bloody cheap at these prices.

My opinion only, make up your own mind.


----------



## tarnor (9 October 2006)

great example of how TA could have saved ya @ss


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## Freeballinginawetsuit (9 October 2006)

tarnor said:
			
		

> great example of how TA could have saved ya @ss





It did save me at $1.32, thats not to say I don't like it at 98c.

Still think its pretty good value at todays prices. A lot of volume though and big sellers, with no quick rebound.

See what pans out in the next few days, may have to eat humble pie on this one.


----------



## rub92me (11 October 2006)

Sliding even further now after the hammering on Monday. Was thinking of getting back in around 1.00 but glad I waited a bit. Hard to pick the bottom on this one; I think I'll wait for some positive news first...


----------



## Bullion (11 October 2006)

Wow... managed to get out at 1.405 before the slide...


----------



## Sean K (11 October 2006)

Too many instos in this to see it slide too much. IMO.

I'm still holding from a buy at $1.39.....

I didn't buy this to 'trade' however, so didn't follow any trading rules when it tanked. (if I could have even sold) I normally sell 10% down. 

Don't hold much of this though.


----------



## yogi-in-oz (12 October 2006)

Hi folks,

BDG ..... fwiw, it should finish 2006 on a very strong note !~!

 ..... and BDG is a typical example of the dilemma that faces 
all traders, when a stock falls off its perch ..... that is, at 
which point do we re-enter this market???

If we consider the price axis alone, then our TA will be
focused on a PRICE level that may have been historical 
support ..... ..... at the lower edge of a trading channel, 
for example.

Tools for analyzing the price axis seem to be endless, but 
even if the price level from our TA proves to be correct, how
long will BDG bounce along on its lows, before lifting into
the next upswing ..... ???

Maybe, if we do some analysis of the TIME axis and marry
it to our analysis of the PRICE axis, we may be able to
come up with a better entry, BEFORE the next rally comes
along.

As time moves on, confirm your regular BDG analysis with
the following time cycles:

       25102006 ..... minor and positive (intraday move only)

  30-31102006 ..... 2 minor cycles here .....

  03-06112006 ..... minor

      21112006 ..... minor (intraday)

      23112006 ..... significant and positive - finances???

      30112006 ..... positive spotlight on BDG ..... 

      13122006 ..... significant and positive news here???

 15-19122006 ..... 1 major, positive cycle and 2 minor cycles 


 27-29122006 ..... 2 cycles and a strong rally here                                                        ... ???

In January 2007, BDG still should stiil be well supported,
but February 2007 will likely bring the next slide in price.

happy days

 yogi



=====


----------



## Profitseeker (15 October 2006)

Rumours flying that BDG might be the ones merging with BGF. If this is true I wonder if it is actually a good thing for BDG. BGF seem to be encountering a lot of problems getting their gold out of the ground.


----------



## YOUNG_TRADER (18 October 2006)

There really has been alot of consolidation going on in the Gold sector, with LHG going for BGF, SED taken out, and LVR and PSV merging,

I think BDG is the next target

Its funny they can't seem to find enough Gold so why not just buy it at really cheap EV/oz

I'm punting it


----------



## YOUNG_TRADER (26 October 2006)

BDG has held up amazingly well after intial crash through $1, it has held 95c-$1.05 on the back of falling gold price and huge selling/liquidation by its 3rd largest shareholder,

Once APS's selling is done I think this will easily sail back to $1.30 intially before moving higher, as Kennas said in the LHG thread, an upsurge in the gold price is just around the corner, after US elections (the powers that B will stop molesting prices and fixing mkts after this point)


----------



## Sean K (26 October 2006)

BDG should have a lot of support at $1.00. Can't imagine it dropping far lower than this, pending more bad news. Next to be consolidated I reckon YT.


----------



## Profitseeker (30 October 2006)

Good finish to the day and could climb more tomorrow if gold keeps going strong tonight. Could be good short term news while we wait for the takeover.


----------



## Sean K (31 October 2006)

Profitseeker said:
			
		

> Good finish to the day and could climb more tomorrow if gold keeps going strong tonight. Could be good short term news while we wait for the takeover.




Taking over LVR has thrown a little spanner in the works for a takeover I think. Mightn't be a good time for anyone to be picking them up....Having said that, down from $2.50, this must have had the uler run over it at a time when it's just starting to produce, unhedged with POG consensus going north over the next 2 years....Hopefully NCM or LHG buy them before they are taken over..


----------



## Sean K (31 October 2006)

I'm out. Nothing really positive in the ann for me. I'm waiting for it to recover a bit now. This might be the bottom, but there's scope for more disappointments.


----------



## Profitseeker (1 November 2006)

In a trading halt. Looks like they are going to need money straight away!


----------



## blueroo (1 November 2006)

I think it odd that they would need money straight away. I thought I read in their report that they had $58mil cash at the end of September. Must be big spenders


----------



## MiningGuru (1 November 2006)

Maybe worth picking up tomorrow if it drops substantialy!

I believe it has a long term future.


----------



## YOUNG_TRADER (2 November 2006)

kennas said:
			
		

> I'm out. Nothing really positive in the ann for me. I'm waiting for it to recover a bit now. This might be the bottom, but there's scope for more disappointments.





You reckon placements and SPP will make it tank?

p.s. if you've got CFD's on this thing can you take up SPP? Wouldn't think so as another party (IG Markets) owns the shares, interesting to see how it will work


----------



## Sean K (2 November 2006)

YOUNG_TRADER said:
			
		

> You reckon placements and SPP will make it tank?
> 
> p.s. if you've got CFD's on this thing can you take up SPP? Wouldn't think so as another party (IG Markets) owns the shares, interesting to see how it will work




Hard to tell YT. Market sentiment seems to be back on gold in general, so might hold up. Macquarie and Goldman behind it so should get the placement funded pretty easily.  

11m oz resource along 5 lines below an area that did produce 22m oz, so it's there. Still 5 years from full production, so it's a waiting game. 

They wouldn't want to come out with too many more 'bad news' updates.

Short term, or long term view?  

If it does tank, that would be my queue to buy back in. And I reckon some institutions would be looking to take a stake at any lower prices, because the long term prospects are there.


----------



## mikegant (2 November 2006)

is there ever any good news when there is a trading halt, or is it always bad?


----------



## Sean K (2 November 2006)

mikegant said:
			
		

> is there ever any good news when there is a trading halt, or is it always bad?




The trading halt is just about announcing the capital raising and allowing the market so soak up the information. Doesn't have to be a bad thing. The information provided by Bendigo in their ann is already known to the market, so probably no effect. 

One good thing was their emphasis that their recent downgrade of the reserve estimate did not effect the overall inferred estimate of 11m oz.


----------



## bvbfan (3 November 2006)

so another capital raising

When I started following this company back in 2001 it was around 15-20c, which would be about $1.50- $2.00 in current prices.

Gold has gone from under $300 to $600 yet these shares have nerly halved. Bang up job management. 

No wonder Harmony walked away, something is not quite right either with the reserves (and extracting them) or management or both

I do not hold but continue to watch, maybe at 50c (5c) I will be interested again


----------



## YOUNG_TRADER (3 November 2006)

Well the Insto's were more than happy to pick up 60m+ shares at 80c to raise $50m THATS A DAMN QUICK PLACEMENT!

Shows faith, I'm happy that it wasn't lower than 80c as this is the last level of support, with raising done here it will become a very strong level of support

GOLD up to $620+


----------



## Sean K (3 November 2006)

YOUNG_TRADER said:
			
		

> Well the Insto's were more than happy to pick up 60m+ shares at 80c to raise $50m THATS A DAMN QUICK PLACEMENT!
> 
> Shows faith, I'm happy that it wasn't lower than 80c as this is the last level of support, with raising done here it will become a very strong level of support
> 
> GOLD up to $620+




I agree Sam. $0.80 was going to be the last stand for BDG, and for instos to jump in so quick, it's very positive. When the dust settles after being back trading I might be CFDing this myself. Hopefully, gold holds, tests $620 on the downside, bounces and then becomes new support and return of the gold bull. Too early to tell yet.


----------



## YOUNG_TRADER (3 November 2006)

lol, my GSL was 83c on my CFD trade,


I rang up at 9.58am and asked them to move it to 79c

LOL, I'd be stopped out otherwise,


HANGING ON TO THIS TRADE BY THE SCRUFF ON MY NECK!!!!!!!!!!!!!


----------



## The Mint Man (8 November 2006)

hey kennas & young Trader,
Just wondering what your thoughts are on this one ATM?, got down to $0.805 today. Although the whole sector & market was down.
For the record I got in a couple of days ago.

Thanks in advance, Cheers.


----------



## Sean K (8 November 2006)

The Mint Man said:
			
		

> hey kennas & young Trader,
> Just wondering what your thoughts are on this one ATM?, got down to $0.805 today. Although the whole sector & market was down.
> For the record I got in a couple of days ago.
> 
> Thanks in advance, Cheers.




MM,

With the placement at $0.80, you'd think there's limited downside. 

Risks would be another resource downgrade (even though their 'downgrade' was just the reserves and did not effect the total 11m oz measured JORC) or POG being smashed. I think POG is heading back up now, but it's too early to say that with absolute confidence. If it breaks $640, then I think the down/sideways trend is over. 

Upside risk is $US dollar weakness sending POG significantly higher, and how about a takeover offer? Come on NCM, NEM, or AGG - time to pounce!

I have not bought back in yet. Sill waiting for the dust to settle.


----------



## Freeballinginawetsuit (8 November 2006)

bvbfan said:
			
		

> so another capital raising
> 
> When I started following this company back in 2001 it was around 15-20c, which would be about $1.50- $2.00 in current prices.
> 
> ...





Management Quotes:
 'Might decrease perimeter reserves 30 percent, but that might have no effect on total reserves', ' Management is on a learning learning curve, learning as we go!', that second ones a beauty. Gotta say the insto's must be pissed that some turkey on a learning curve is managing a Company with a 500m cap ( at least it was prior to his learning curve).

I've got a bit of coin in BDG and I'm certainly not impressed with management, I wonder if the CEO has returned from his sick leave (probably induced by his uneccesarily cloudy last announcement).

Gotta say that BDG looks good on paper, I reckon if it wasn't held so tightly by insto's it would probably be a takeover target at these SP prices.


----------



## YOUNG_TRADER (8 November 2006)

Still on my CFD's, GSL@79c, thinking of dropping GSL down to 75c or so just to be safe,

Considering at 80c its capped at $360m or so and LHG paid $350M for BGF I'd say its a definate takeover target now, just got to get the Insto's Approval, although APS seems to be eager to exist, I'd say there the big sellers of late


----------



## The Mint Man (8 November 2006)

> Considering at 80c its capped at $360m or so and LHG paid $350M for BGF I'd say its a definate takeover target now



Sounds good to me  
before I bought I made the decision to hold for a while either way.....sitting waiting,sitting waiting.


----------



## YOUNG_TRADER (9 November 2006)

lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade


----------



## nizar (9 November 2006)

YOUNG_TRADER said:
			
		

> lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade




YT no disrespect but why did you buy this?
gold still has alot of work to do and this stock is in a clear downtrend?
does it seem cheap to u?


----------



## YOUNG_TRADER (9 November 2006)

Agree with everything you said Niz, 

Here's my reasons


1. CFD investment here = 1% of my investment wealth

2. No exposure to Gold apart from HLX options (see thread if interested)

3. Most Important: The amount of consildation going on in Gold Sector with LHG T/O of BGF the final straw for me to jump in


Very very cheap right now


----------



## The Mint Man (9 November 2006)

YOUNG_TRADER said:
			
		

> lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade




So your still in?
I wondered if you were sold this morning.
I'll be holding for the moment....


----------



## Sean K (9 November 2006)

YOUNG_TRADER said:
			
		

> Agree with everything you said Niz,
> 
> Here's my reasons
> 
> ...



YT, I think your comparision of market cap and value to BGF was very pertinent. BGF have 1.4m JORC and BDG have 11m JORC, both valued the same? Doesn't add up.


----------



## The Mint Man (9 November 2006)

kennas said:
			
		

> YT, I think your comparision of market cap and value to BGF was very pertinent. BGF have 1.4m JORC and BDG have 11m JORC, both valued the same? Doesn't add up.



Good Point.
Not many people looking to sell in comparison to buyers, this has been the story for the last couple of days. more demand then supply. Isnt this good? 
Market Depth 
BUY
Number  Quantity    Price 
6          108,874    0.795 
18         192,235    0.790 
13         121,250    0.785 
13         235,400    0.780 
7          237,900    0.775 
11         132,473    0.770 
12         198,701    0.760 
2          15,000      0.755 
30         243,997    0.750 
3           36,167     0.720 
SELL
Price      Quantity   Number 
0.800      3,347        2 
0.805      10,000      1 
0.810      113,471    10 
0.815      70,114      6 
0.820      245,513    4 
0.825      28,000      1 
0.830      29,600      3 
0.835      30,000      3 
0.840      33,070      7 
0.845      120,287     6 
Just noticed Golds also up over $618 
(edit: tried to space them but obviously it dosnt let you do that, Cheers)


----------



## Profitseeker (9 November 2006)

When better production figures come out to reassure the market this should fly. I think we will be looking pretty in about March of next year.


----------



## The Mint Man (9 November 2006)

Freeballinginawetsuit said:
			
		

> I wonder if the CEO has returned from his sick leave.



Just noticed this Announcement:


> Bendigo Mining Limited (ASX: BDG) advises that Mr Doug Buerger, Managing Director & CEO, has returned from a temporary leave of absence.
> Bendigo’s Chairman, Mr Peter McCarthy said he was very pleased to see that
> Mr Buerger is back at work to manage the Company through the next phase of
> production and development.
> ...



Cheers


----------



## Profitseeker (9 November 2006)

I wonder if Doug is happy with the significant steps that were made in his absence?


----------



## Sean K (9 November 2006)

One of those goals must have been to lose 40% off the sp.


----------



## The Mint Man (10 November 2006)

up a little this morning   hopfully gold keeps going


----------



## Profitseeker (10 November 2006)

Needs to close above .82 for me to get excited.


----------



## Profitseeker (10 November 2006)

Looking good for that close.


----------



## Caliente (10 November 2006)

ok, this has popped up on radar. thoughts from technical traders?


----------



## The Mint Man (10 November 2006)

Caliente said:
			
		

> ok, this has popped up on radar. thoughts from technical traders?



I think YT has some skill in that area... might want to ask him to add his   .
EDIT: I take that back after reviewing post 41  , YT _"I'm not much of a tech"_ Ok mabey he can give fundamentals


----------



## Sean K (10 November 2006)

The last line of defence for this is $0.75, which it won't get to IMO due to the placement at $0.80. Resistance now on the way up between $1.00 and $1.20. 

Fundamentals are there, although management needs to convince the market a bit better. 

Way oversold this puppy. I'm waiting for the dust to settle before jumping on.


----------



## GRIZ (10 November 2006)

Hi All,
       Have held BDG several times now, but keep getting burnt "reserve comment" & delay in 2nd mine opening now 2012/2013 -15%. "capital raising" -10%, may now be over sold? Dont know. There always talking about 660,000 ounces a year @ $250 us / ounce, but until 2012 50,000 ounces @ $400 + this year (only 3 or 4  months ago it was 170-190,000 ounces first year of production). 
       Have you looked at the chart all the way back to 1985 - listed at 25 cents. By Jan 87 was @ $7.50. Huge amount of hip pushed price up to $23.20 Sep 87, then back 50 cents by the end of 88. Last month they commision plant & poor there first gold, no upside from ann. How could it take 21 years??  Most of there asx ann. are negative, cost over runs, industrial disputes etc etc. Poor managment!
        I dont post very often, but do read & respect your posts, I dont understand why the continued positive feeling about BDG. Is it just the fact its over sold, or 11 Mill ou. in the ground. 
        If some of you have time maybe you could explain why you / I would buy back into BDG. Ar'nt there good alt. What about OGD? 550,000 au. a year by 2008 @ $100.00 US / ounce. just as example.      

                                                     Thanks, sorry about the rant. GRIZ.


----------



## Sean K (10 November 2006)

GRIZ said:
			
		

> Hi All,
> Have held BDG several times now, but keep getting burnt "reserve comment" & delay in 2nd mine opening now 2012/2013 -15%. "capital raising" -10%, may now be over sold? Dont know. There always talking about 660,000 ounces a year @ $250 us / ounce, but until 2012 50,000 ounces @ $400 + this year (only 3 or 4  months ago it was 170-190,000 ounces first year of production).
> Have you looked at the chart all the way back to Jan 1987 - listed at $7.50. Huge amount of hip pushed price up to $23.20 Sep 87, then back 50 cents by the end of 88. Last month they commision plant & poor there first gold, no upside from ann. Most of there asx ann. are negative, cost over runs, industrial disputes etc etc.
> I dont post very often, but do read & respect your posts, I dont understand why the continued positive feeling about BDG. Is it just the fact its over sold, or 11 Mill ou. in the ground.
> ...




Griz, yeah I'm following OGD too. Watching closely.

I think the spt for BDG was the 11 m JORC and no hedging at a time when gold is expected to climb to $1000 +. 

You are right about all the bad news. Frustrating. 

I bought at $1.39 and sold around $1.00 to wait until it's clearer where it's headed. 

Must say, I'm a gold bull, so perhaps that has clouded my mind.


----------



## The Mint Man (15 November 2006)

Pulled this from the Gold price thread, thanks to kennas  


> Finding Value In Australia's Gold Sector
> FN Arena News - November 14 2006
> 
> By Chris Shaw
> ...



kennas you posted this so I'll direct this question towards you just to clear things up: When he says 'discount to valuation at 68%'. Does that mean they have a share price estimation of about $2.50?  

For any of you that are interested you can view the whole post here, post 824: https://www.aussiestockforums.com/forums/showthread.php?p=92313#post92313

cheers


----------



## Sean K (15 November 2006)

The Mint Man said:
			
		

> Pulled this from the Gold price thread, thanks to kennas
> 
> kennas you posted this so I'll direct this question towards you just to clear things up: When he says 'discount to valuation at 68%'. Does that mean they have a share price estimation of about $2.50?
> 
> ...




Yep. 

You have to be a believer in the resource and that they are going to get it out *as forecast* though. Potential for more delays, downgrades yada yada..


----------



## The Mint Man (16 November 2006)

True but I for one am willing to hold on through the 'negative sentiment', got a good feeling about this one . 
I think that other shareholders feel the same as me after looking at the Vol over the last week or so. Slowly but surely starting to settle, less selling more holding.
15 Nov  3,166,726 
14 Nov  1,965,071 
13 Nov  2,685,317 
10 Nov  4,104,433 
09 Nov  3,427,213 
Just to make my point, on the 8th Nov was over 7 million traded between hands. Even if $2.50 is a bit ambitious, I belive that BDG is currently trading at a very good discount, either way money to be made. If you looked at the depth chart over the last couple of weeks it is obvious that there are way more buyers compared to sellers. They must be seeing something in BDG, probably the same thing I saw when I bought 2 weeks ago. As Jimeoin would say 'Bargain'.

cheers


----------



## Sean K (16 November 2006)

The Mint Man said:
			
		

> True but I for one am willing to hold on through the 'negative sentiment', got a good feeling about this one .
> I think that other shareholders feel the same as me after looking at the Vol over the last week or so. Slowly but surely starting to settle, less selling more holding.
> 15 Nov  3,166,726
> 14 Nov  1,965,071
> ...



When gold starts heading back towards $1000 and BDG is heading to all time highs, people are going to look at $0.80 and think, why o why did I not jump all over that! Having said that, I'm still not in. Will start looking more seriously at it when it gets back over $0.90 for a start.


----------



## YOUNG_TRADER (16 November 2006)

I'm pretty sure APS Asset Management still has a fair bit of selling to do


----------



## Profitseeker (17 November 2006)

YOUNG_TRADER said:
			
		

> I'm pretty sure APS Asset Management still has a fair bit of selling to do




But judging by the announcements today the other funds are  getting in. Be interesting to see what happens in December with the production on the McDermott Reef. It sounds promising. If it proves to be then the share price could really begin to recover.


----------



## Sean K (18 November 2006)

Profitseeker said:
			
		

> But judging by the announcements today the other funds are  getting in. Be interesting to see what happens in December with the production on the McDermott Reef. It sounds promising. If it proves to be then the share price could really begin to recover.



Yeah, I'm looking at this as a potential time to get back in. They MUST do this on time with no hickups however, or they could be looking even more foolish. The sp will be effected appropriately.


----------



## Profitseeker (18 November 2006)

kennas said:
			
		

> Yeah, I'm looking at this as a potential time to get back in. They MUST do this on time with no hickups however, or they could be looking even more foolish. The sp will be effected appropriately.




I know. It would be the stuff that cold sweats is made of. On the other hand it could be champagne corks popping.


----------



## The Mint Man (20 November 2006)

Off a couple of % today, considering buying some more.
As Chicken would say:
'Accumilator at work...keeping price down..POG should run in the next few days'
Load up the truck people   

Cheers 

Edit: Dont let this post spook you kennas


----------



## YOUNG_TRADER (20 November 2006)

I'm pretty sure this is that APS Asset Management still selling out, may take another 2 weeks before they're out completely


----------



## Sean K (20 November 2006)

The Mint Man said:
			
		

> Edit: Dont let this post spook you kennas



LOL. I've got my finger poised for this. Couldn't see it going below $0.75, unless the mine caves in.


----------



## nizar (20 November 2006)

kennas said:
			
		

> Couldn't see it going below $0.75




Why not?
WHen this was $2.50 in May, i never wouldve believed you if you had told me that it would be <$1 by November, in fact, i doubt you would have believed it yourself.
Clear downtrend.


----------



## Sean K (20 November 2006)

nizar said:
			
		

> Why not?
> WHen this was $2.50 in May, i never wouldve believed you if you had told me that it would be <$1 by November, in fact, i doubt you would have believed it yourself.
> Clear downtrend.



The placement at $0.80 was completed in a few minutes down the pub. Has plent of support there, I assume.

Current market cap about $335 m. 
10m + 0z au @ $500/1000 = $5/10 bil.
Mine life about 20 years.

Lihir paid $350m for BGF which has about 3m oz au and it will run out in 4 years....


----------



## The Mint Man (20 November 2006)

YOUNG_TRADER said:
			
		

> I'm pretty sure this is that APS Asset Management still selling out, may take another 2 weeks before they're out completely



True. So some more cheap buying to come  
But after that what do you expect?


----------



## justjohn (20 November 2006)

The Mint Man said:
			
		

> Off a couple of % today, considering buying some more.
> As Chicken would say:
> 'Accumilator at work...keeping price down..POG should run in the next few days'
> Load up the truck people
> ...



MINTY you be lucky to get a truck at present there all being loaded up by some mad ramping feathered bird like animal at SBM plus you forgot about ''DO YOUR RESEARCH''   :


----------



## The Mint Man (20 November 2006)

Hehe, by the way empty out your PM's.

BDG off about 4% today, although the whole market got smashed. So yeh load up the truck and do your research


----------



## YOUNG_TRADER (21 November 2006)

Great an SPP@80c

How much money do these w@nkers need to dig that gold up?


----------



## The Mint Man (21 November 2006)

You still in on them YT?

cheers


----------



## YOUNG_TRADER (21 November 2006)

CFD's only so nothing major, small deposit of $3k with GSL

Its just dissapointing as this company has so much potential, a company with actual mining skills should take over! LHG cough cough


----------



## Profitseeker (21 November 2006)

Is anyone going to take up the share offer?


----------



## Freeballinginawetsuit (21 November 2006)

ATM its cheaper buying BDG on market, at least ROC is trading at a 40c premium to its 3 for 8 offer, I was hoping BDG would at least hold at 85c to offer any incentive to take part in the offer.

Personally I have enough BDG  , silly me!.


----------



## Ranger (22 November 2006)

Profitseeker said:
			
		

> Is anyone going to take up the share offer?





I will be definitely watching the share price up to the December 8 closing date. But for me to buy they are going to have to rise considerable.


----------



## The Mint Man (22 November 2006)

Ranger said:
			
		

> I will be definitely watching the share price up to the December 8 closing date.



 :iagree: 
was going to buy up at $0.77 yesterday but decided to wait and see what happens... Ive got the SPP sitting here for $0.80, with no brokerage thats $0.77 anyway.
Sitting waiting.


----------



## The Mint Man (23 November 2006)

well were off a couple of % today.... seems that some shareholders cant take the hard words in the first 2 or so pages of the AGM ann.
However If you look past that you will find several up sides, even more so if your looking at holding for the longer term.
One comment in particular, by Peter McCarthy stood out to me:


> Another important issue in the broader business environment is the global shortage of significant gold resources, combined with the ongoing consolidation of gold companies by merger and acquisition. As the gold companies get bigger, they will have great difficulty in sustaining their production and growth into the future. For example, one of the biggest gold producers in the world, Barrick Gold Corp., needs to find some eight million ounces of gold a year just to maintain its current position, let alone grow. Bendigo figures large on any assessment of global resource opportunities and has great value for that reason alone.



The Global resource position/Global gold mines graph on page 13 also backs this up, you can clearly see that it has a decent gold grade and Resource size compared to the majority of other gold mines. 
With all the takeover action of late who knows? we could see some action.

I also think this comment is important:


> The productivity of the underground teams has steadily lifted and we are now developing at the rate of some 7 kilometres per year of underground tunnels.
> It is important that we maintain a high development rate, so we can open up the length of the goldfield and allow the exploration team to drill for and find new gold-bearing reefs.
> The drilling is done from underground, requiring skilled drillers and reliable equipment. We have a drilling company working for us that is owned and operated by a team of very experienced drillers. They have very low staff turn-over and good productivity. The shortage of skilled drillers in the exploration and mining industry worldwide is acute, so having a reliable and skilled drilling team is a major asset to our Company.



7000m/52 = 134m on average per week sounds ok to me.

here is a link to the AGM ann if your interested http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00670739 However the ASX does seem to be having some problems ATM so it might be better to view it through your brokers site, plus the ann on the ASX has been copied so its a bitch to read compared to comsec etc.

Anyway I will continue to hold and at these prices will most likely buy more before the new year.

cheers 

EDIT: do your research :


----------



## Sean K (23 November 2006)

I find it incredibly intriguing that Barrick has been specifically mentioned. I think this company is going to be taken over in the near future and I want to be on it when that occurs. Might be time to get in there now and not wait for more stability in the price and an upward trend identified. Hhhhmmm.


----------



## Sean K (23 November 2006)

kennas said:
			
		

> I find it incredibly intriguing that Barrick has been specifically mentioned. I think this company is going to be taken over in the near future and I want to be on it when that occurs. Might be time to get in there now and not wait for more stability in the price and an upward trend identified. Hhhhmmm.



I'm back in now. Not many for a start and will see how it goes. I have a feeling that this is around bottom and will be buying it on the way up as it goes through resistance levels I think. Will also watch vol closely for anything unusual.


----------



## The Mint Man (23 November 2006)

kennas said:
			
		

> I find it incredibly intriguing that Barrick has been specifically mentioned. I think this company is going to be taken over in the near future and I want to be on it when that occurs. Might be time to get in there now and not wait for more stability in the price and an upward trend identified. Hhhhmmm.



 :iagree: 
And welcome back kennas.... my only regret about getting to BDG is that I didnt wait until now to buy at a cheaper price however having said that I belive they are at a bottom now and will make back what (little) I have lost to date. As I have said I also have the SPP sitting here ready to go if need be  
Its funny you mention the volume kennas as I was just checking the market depth... nothings different today, more peole willing to buy then sell however have a look at the buy orders @ $0.77 (if it reaches that again):
Number    Quantity    Price 
   30      1,179,556   0.770 
thats the strongest buy order I have seen over the last couple of weeks. what do you's recon? people starting to see the bargain I speak of.


----------



## barney (23 November 2006)

kennas said:
			
		

> I find it incredibly intriguing that Barrick has been specifically mentioned. I think this company is going to be taken over in the near future and I want to be on it when that occurs. Might be time to get in there now and not wait for more stability in the price and an upward trend identified. Hhhhmmm.




Howdy K and others,  I first noticed BDG back in Oct when it dived to $1 ..... I agree with what you lads are saying (and I have bought in as well) .... The trend is still down, but there has been a good tussle between the buyers/sellers over the last couple of days.  I reckon once the last of the desperate sellers have had enough (could be a bit longer yet) then the sp only has one way to go. There is too much potential imo (unless the mine caves in!!!)  We will all be accused of being bottom pickers, but as they say in the classics ... "no guts no glory"  ........ Once they upgrade their "lost" resources which caused the sp dive; And the company say they are confident of doing this, who knows where this might get to ..... Good luck to ya's all (and me too .... geez I need some)

How much lower can it go???  Its not like its a shabby spec stock!!  Cheers, Barney.


----------



## SevenFX (23 November 2006)

barney said:
			
		

> How much lower can it go???  Its not like its a shabby spec stock!!  Cheers, Barney.




Agree it certainly not a shabby stock, even thought some aren't in favour of current management....

Guess the question was being asked all the way down "how much Lower can it go"...???? which not many thinks it will fall further, as there seems to be more of a chance it will turn up, than further down.

IF it falls further perhaps .71c would be a 2 year support, or worse still .58c being a 2/6/11 year support... which is not likely at all.

Cheers
SevenFX


----------



## SevenFX (28 November 2006)

Hmmm is this the start of a breakout from long awaited sideways channel.


----------



## The Mint Man (28 November 2006)

yes you beat me to it....
market generally down and I thought BDG was going to follow (like it did last monday) as it opened at $0.795 and got down to $0.79, however it has proven me wrong  didnt take long fo it to reach $0.81 with a current high of $0.815...... with good Volume too  
heres its history over the last week (from ASX site):
.....Date ........Last    High   Low  .....Vol *  
27 Nov 2006 .0.800  0.805  0.785 ...3,447,620 
24 Nov 2006 .0.790  0.800  0.780 ...1,781,233 
23 Nov 2006 .0.775  0.805  0.775 ...2,954,338 
22 Nov 2006 .0.800  0.800  0.770 ...4,142,429 
21 Nov 2006 .0.770  0.785  0.770 ...3,744,369 

and todays so far:
Stock  Bid $  Offer $  Last $  Change  % Open $  High $  Low $  Volume  
BDG  0.815  0.820  0.815  0.015  1.88  0.795  0.815  0.790  1,107,153 

All this in the first hour!!!

Looking good ATM


----------



## The Mint Man (28 November 2006)

Couldnt even finish writing my last message before it leaped to $0.83...hehe  
For those people sitting on the sidelines on this one... might be time to jump in.
Hey kennas, by my calculations you have already made about 8%. 
Glad you got on?

EDIT: sorry for my excitement but this has all happened in the first hour of a day when the market is down about 60 points whith the likes of LHG, NCM etc.. all down too, anyway Ill try to calm down now.

cheers


----------



## Sean K (28 November 2006)

The Mint Man said:
			
		

> Couldnt even finish writing my last message before it leaped to $0.83...hehe
> For those people sitting on the sidelines on this one... might be time to jump in.
> Hey kennas, by my calculations you have already made about 8%.
> Glad you got on?



Yes, mate, but I'm not counting my chicken yet. There'll be a bit of resistance at $1.00. Good start to the day though.


----------



## The Mint Man (30 November 2006)

hey guys,
Can anyone tell me why they had a sudden jump at the end of today? 
up 3.7% upon close.
They were around the $0.80 mark all day and I was expecting it to end like that (like it has been lately) but it closed at $0.825, its highest close for a while now. I belive this all happened in the last 1/2 hour of today.
They also had an increased VOL, that reached 11,029,251 (going off comsec)which is its highest Vol for a while now..... well since it was having a sell off I belive.
Any idea why the sudden increase in price and Volume? was there a big buy at the end of the day?

From Comsec:
BDG close 0.825  0.030  3.77%  11,029,251 

cheers


----------



## rub92me (30 November 2006)

I can see one big crossed transaction of 1.3 million shares @ 0.794. Lots of smallish transactions at the adjust stage (2-40,000) @ 0.825.


----------



## Dohes7 (30 November 2006)

One buyer came in at about 4.08pm with a bid of 1.2mil @ .85c which took out all the sellers. Could be finally up from here!! (Fingers crossed)


----------



## Ranger (30 November 2006)

The share offer is looking a lot more attractive now.


----------



## The Mint Man (30 November 2006)

yes much better, mabey people will/have started to open their eyes. Ive still got the SPP right in front of me  

Interesting those big orders.... you might remember me saying (in post 190) that there were 1,179,556 waiting to be traded @ 0.770, however the other day, when BDG got some legs reaching $0.835, that order went missing from the market depth chart. I wonder if they decided buy at a higher price in fear of missing out?


----------



## barney (30 November 2006)

Dohes7 said:
			
		

> One buyer came in at about 4.08pm with a bid of 1.2mil @ .85c which took out all the sellers. Could be finally up from here!! (Fingers crossed)





Not the only share that this happened to today either .......... CEY coming back from a dive ............today after 4 o clock close ($2.84)   finished off with over 1 million shares at $2.94 !!!!!   10 cents higher than the original close ...... guess who sold yesterday? (bugga) .......... not sure what these after hours spikes mean, but I hope BDG goes through the roof 2 morrow..... Good  luck all, Barney.


----------



## Dohes7 (1 December 2006)

What's everyones thoughts on a possibility of a takeover of BDG??


----------



## Sean K (1 December 2006)

Dohes7 said:
			
		

> What's everyones thoughts on a possibility of a takeover of BDG??



High probability. LHG paid $350m for BGF who have 3-4m ish oz au and BDG have 10m au and have just starting to mine. Market cap about the same. You'd have to add 30% ish on the sp for it to be any where near acceptable to the directors though, so maybe $450m, which would give it a price of about $1.05 which seems pretty cheap to me. It was $2.50 a few months ago. Perhaps a 40% premium would be more realistic. About $1.15. Only drama would be there are three large companies on the register holding 10% or more. Just have to convince them too.


----------



## traderandy (1 December 2006)

gold surged up overnight and look what's happened to BDG in the first 3  minutes!

I'm so glad I decided to hold (before the buyers came in late yesterday)


----------



## Sean K (6 December 2006)

Might be too early to really tell, but perhaps a bottom has been seen.


----------



## SevenFX (6 December 2006)

Morning K.

What will it take for this sucker to rapidily rise again, a great ann titled "BDG Takeover", or gold's rapid rise...????

Or do you think it will be a slow rise back to it's high if ever...???


----------



## The Mint Man (6 December 2006)

Could I be right in saying that the market wont let it go until this SPP closes on Friday? 
I mean the SPP is for $0.80 per share and it dosnt seem to be able to get away from that ATM. So maybe it will start to run on Monday?


----------



## Sean K (6 December 2006)

SevenFX said:
			
		

> Morning K.
> 
> What will it take for this sucker to rapidily rise again, a great ann titled "BDG Takeover", or gold's rapid rise...????
> 
> Or do you think it will be a slow rise back to it's high if ever...???



Takeover might help.   

Gold confirmed uptrend. I think it is, but unexpected events could change that. 

A good progress update on mining operations saying everything's on track might help.

And maybe an upgrade from a broker or four....



			
				The Mint Man said:
			
		

> Could I be right in saying that the market wont let it go until this SPP closes on Friday?
> I mean the SPP is for $0.80 per share and it dosnt seem to be able to get away from that ATM. So maybe it will start to run on Monday?



I agree, that after the SPP is sorted it will give the sp some more freedom


----------



## YOUNG_TRADER (6 December 2006)

kennas said:
			
		

> Takeover might help.
> 
> Gold confirmed uptrend. I think it is, but unexpected events could change that.
> 
> ...





Yep, yep, yep and Especially YEP to the SPP


----------



## Profitseeker (7 December 2006)

You would think that the company would have tried to make some announcements to push the price up to get the share placement taken up. I'm actually worried that the share price is now sitting at the issue price.


----------



## Profitseeker (7 December 2006)

and I just bought my $5000 at .79 What a joke.


----------



## Profitseeker (8 December 2006)

What the?


----------



## britishcarfreak (8 December 2006)

Not feeling too comfortable about BDG today - but I'm down about 5% across the board anyway.  // bit worried about dropping through previous support.  I may freak if it goes past 76c.


----------



## The Mint Man (8 December 2006)

I was going to take up the SPP but I am now going to buy through comsec by the end of today.
Profitseeker, My view is this.Dont freak! Everyone likes a bargain... if people buy below $0.80 they will feel like they have got one as they will be buying below the SPP.   
So dont be too worried as it has been around this level for weeks now. If it makes you feel any better I bought in at $0.85 around 2 months ago when they were coming down and sure Ive lost a little but I feel they will be going back up soon. If that dosnt make you feel better then read back though some of kennas old post as he has previously taken a hit on BDG not so long ago and hes also back in. Now thats saying something.

cheers


----------



## Profitseeker (8 December 2006)

Me thinks that  it could be an intresting close today.I'll be watching. My conspiracy theory is that JP Mongrels decreased their stake to keep the price below .80 so that their massive holding was not dilluted by the SPP (It has worked for me). These thoughts could have been influenced by the beers I had at lunch though.


----------



## britishcarfreak (8 December 2006)

What do you mean interesting close?  What's gonna happen in your opinion?


----------



## The Mint Man (8 December 2006)

britishcarfreak said:
			
		

> What do you mean interesting close?  What's gonna happen in your opinion?



bit late to be asking that. hehe 3:59pm


----------



## Ranger (9 December 2006)

Has anyone got any thoughts on what might happen to BDG Monday?


----------



## Sean K (10 December 2006)

Ranger said:
			
		

> Has anyone got any thoughts on what might happen to BDG Monday?



Might go down a % in line with gold retreat. If gold opens up in Asia then it will probably go up. This is a possibility with news of Iran selling $US. 

Pending any news from the Company, or broker reports......


----------



## Freeballinginawetsuit (10 December 2006)

BDG hasn't tracked POG for a while Kenna's, any movement of its SP is just a guess IMO, similar to managements knowledge


----------



## Sean K (10 December 2006)

Freeballinginawetsuit said:
			
		

> BDG hasn't tracked POG for a while Kenna's, any movement of its SP is just a guess IMO, similar to managements knowledge



LOL. And you are right about tracking gold point althought the run from Nov 05 - May 06 was surely related to POG, and since then also to gold retracing, along with management bumbling. 

I think that it could start to change up now that the spp has closed and the dust might have settled (maybe) from the reserves downgrade. As it moves further into production POG will be very important to BDG. Being unheadged and all.

Chart wise, just how could it go lower from here? I suppose it can, but looks very oversold on the indicators. 

Must admit, this is still subject to the resource base being re re confirmed. There are probably questions in the minds of analysts after the downgrade even though it was small and did not effect the overall resource. 

Still a risk. As is life.


----------



## Freeballinginawetsuit (10 December 2006)

kennas said:
			
		

> LOL. And you are right about tracking gold point althought the run from Nov 05 - May 06 was surely related to POG, and since then also to gold retracing, along with management bumbling.
> 
> 
> Chart wise, just how could it go lower from here? I suppose it can, but looks very oversold on the indicators.





Agree, but BDG hasn't tracked the gold price since POG rallied recently. Personally I think we are seeing gold pullback a bit before a test of the $700 mark. I am of the opinion/anticipating that BDG being unhedged and with the mine going all well it will once again track POG and should run.

All the aforementioned is totally reliant on market confidence coming back into BDG, institutions stopping shark barring and selling down, and management stopping their learning curve. 

All in all BDG has a lot in their favour and they are way oversold and the SP is value (real value) but the market isn't of the same opinion as me ATM, but that could turn on a dime as we all know.


----------



## The Mint Man (11 December 2006)

> All in all BDG has a lot in their favour and they are way oversold and the SP is value (real value) but the market isn't of the same opinion as me ATM



Thats for sure!!!


> but that could turn on a dime as we all know.



which is why Im not trying to pick the bottom. If I tried to I would probably only get in at the price that I bought at anyway because by the time you notice it run you've missed the bottom!! simple eh?
Im just waiting for those bottom pickers to notice what your saying, then watch as the SP goes up  

cheers


----------



## britishcarfreak (11 December 2006)

So are there many ballsy people here that are jumping in at present?  I took the plunge at 80c.  I wanted to buy them ages ago and figured I'd missed the boat with the run to 2.60 odd.  There aren't too many second chances like this are there?

What are your indicators for confirmation of a reversal?  I'm curious to know what people are looking for if they're gonna wait before getting in.


----------



## Sean K (11 December 2006)

britishcarfreak said:
			
		

> What are your indicators for confirmation of a reversal?  I'm curious to know what people are looking for if they're gonna wait before getting in.



Higher highs and lows. Increased volume. 

I've bought some at these levels and will buy more on the turn around. 

This still no sure thing. Just about any company can go bust.


----------



## Ranger (14 December 2006)

The directors must still believe in the company with 4 taking part in the SPP.


----------



## Jrowl (15 December 2006)

I'm still concerned by further dilution of the stock. Yes the managment have taken part in the SPP but all last week the share price was trading between .77 & .80 so why would anyone have decided to buy SPP at a premium to the share price? They issued a further 7,842,275 shares which I assumed was because of the SPP which is $6,263,820. That means 1255 Australians (SPP was only for Australians) took part and paid 5,000 each. All thoughout the period the shares could have been bought cheaper on the market, I would have assumed participation in the SPP would have been much lower, perhaps under 100 people.

What are your thoughts on this? (BTW the SPP has further diluted the stock by 1.5%)


----------



## Freeballinginawetsuit (15 December 2006)

BDG are increasing their SOI for 'operating capital' dude (theyve gotta get money from somewhere) once they flog some unhedged gold and recover their lost resource and restore market confidence and replace management.....etc, their share price should rocket.......hopefully  , or they go belly up.


----------



## Dohes7 (15 December 2006)

Jrowl said:
			
		

> I'm still concerned by further dilution of the stock. Yes the managment have taken part in the SPP but all last week the share price was trading between .77 & .80 so why would anyone have decided to buy SPP at a premium to the share price? QUOTE]
> 
> No brokerage fees!!!


----------



## Gundini (15 December 2006)

I don't know which is more exciting, watching BDG or watching the grass grow! So far, the grass is winning....

BTW I do still hold this stock, bought @ $1.31, then some more after the reserve downgrade, then some more after the capital raising. 

Am I an Idiot or what


----------



## The Mint Man (15 December 2006)

I have bought at an average of $0.796, so I'm just sitting waiting... Something is bound to happen IMO.
I think we are also due for some results this month?


----------



## Profitseeker (18 December 2006)

I think the next announcement they make will be crucial. The sooner the better as well so we can just be done with it one way or another.


----------



## Kipp (18 December 2006)

Jrowl said:
			
		

> trading between .77 & .80 so why would anyone have decided to buy SPP at a premium to the share price?



My friend, when they did the SPP about a month SP was in the mid 80's-90 I think.  No company qwould ever do SPP at a premium... yes brokerage fees are saved too--- but they are only $20!!!!

In my (limited) experience, SPP are usally done at an awesome discount to the SP, for example BSM, it was 16.5 c (SP was ~19-20 at the time) and similar discount for JMS.  In the short term there is a slippage in SP (often down to the SPP) but it usually recovers pretty quickly.  Thus, 77 would seem a bargain.  

P.S. I Don't hold.
P.P.S.  Lok like I'm gunna have to change my pic subtitle soon... maybe TLS WILLL hit $5.00!!!


----------



## The Mint Man (18 December 2006)

> I think the next announcement they make will be crucial. The sooner the better as well so we can just be done with it one way or another.



True...... A takeover will do    
As I said before, I think we are due for some news soon. Maybe some production figures
On another note, I think that BDG has held up quite well today considering the gold price and no news to sugar coat it today.

cheers


----------



## Sean K (18 December 2006)

Kipp said:
			
		

> P.P.S.  Lok like I'm gunna have to change my pic subtitle soon... maybe TLS WILLL hit $5.00!!!



Hope so Kipp. That would buy a nice new rudder for the yacht.


----------



## The Mint Man (21 December 2006)

Some People must be keen to get in on BDG while the price is cheap...
Just noticed this on the market Depth:
Number ... Quantity .... Price 
13 ......... 2,390,789 ..  0.760 

Started off good today though, up around 1% and alot of trades going on very early, Compared to normal.

cheers


----------



## Sean K (21 December 2006)

The Mint Man said:
			
		

> Some People must be keen to get in on BDG while the price is cheap...
> Just noticed this on the market Depth:
> Number ... Quantity .... Price
> 13 ......... 2,390,789 ..  0.760
> ...



Hhhmm, 2m at $0.76, that is no dodgy day trader on HC! $1.5m....


----------



## Dr Doom (21 December 2006)

I've been a BDG 'true believer' for a number of years, through thick and thin etc etc, so you would have to take management word as to the reliability of the resource. But what is known is that there IS gold down there, a number of large institutions have continually supported BDG so it's just a matter of EXACTLY how much is down there. All other things being equal, you would have to assume that  even allowing for a reduction of 30% from the initial projections, which were as I recall some 500k per year at full production, it still leaves you with approx 350k. So however you value that as compared to todays price I would think history will show it as being cheap, if/when gold goes for another spurt. BTW, I wouldn't take much notice of the 2 mill bidder @ .76 as these types of bids usually vaporise in an instant. Although if it's genuine it looks a promising base.


----------



## Profitseeker (24 December 2006)

take a look at who is on newcrest mining's board...

  R. Bryan Davis

Non-Executive Director
Appointed to the Board in March 1998. 
Bachelor of Science Technology (Mining) from the University of New South Wales. Mr Davis is a former Executive Director of Pasminco Limited. He is Chairman of Bendigo Mining Limited, a Director of OneSteel Limited and Coal & Allied Industries Ltd, a Fellow of AusIMM and a member of the Australian Institute of Company Directors. Mr Davis is Chairman of the Safety, Health and Environment Committee and a member of the Audit and Remuneration Committees. 

Other Directorships:

Chairman of Bendigo Mining Limited from September 2004, Director of OneSteel Limited from December 2004 and Director of Coal & Allied Industries Ltd from September 2000. Previously Chairman of Indophil Resources N.L. from November 2000 to April 2005.


----------



## The Mint Man (27 December 2006)

Profitseeker said:
			
		

> take a look at who is on newcrest mining's board...
> 
> R. Bryan Davis
> 
> ...



Hmm, interesting. Maybe he can have a word with newcrest about a takeover  
good to see we have got some connections though.

cheers


----------



## Sean K (27 December 2006)

The Mint Man said:
			
		

> Hmm, interesting. Maybe he can have a word with newcrest about a takeover
> good to see we have got some connections though.
> 
> cheers



This is very promising IMO. M&A activity on BDG could be a real possibility and I am backing NCM, unless they want to be taken over themselves....This is a bit speculative, but I have read several articles over the past few months on potential targets and both NCM and BDG have come up. As LHG have done, perhaps one of them need to start taking steps to save their company, or be swallowed. As soon as I see some unusual volume on BDG I'll be topping up.


----------



## michael_selway (27 December 2006)

kennas said:
			
		

> This is very promising IMO. M&A activity on BDG could be a real possibility and I am backing NCM, unless they want to be taken over themselves....This is a bit speculative, but I have read several articles over the past few months on potential targets and both NCM and BDG have come up. As LHG have done, perhaps one of them need to start taking steps to save their company, or be swallowed. As soon as I see some unusual volume on BDG I'll be topping up.




PE is still so high!

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -3.5 1.6 1.0 4.2 
DPS 0.0 0.0 0.0 0.0 

EPS(c) PE Growth 
Year Ending 30-06-07 1.6 47.5 -- 
Year Ending 30-06-08 1.0 76.0 -37.5% 

thx

MS


----------



## Sean K (27 December 2006)

michael_selway said:
			
		

> PE is still so high!
> 
> Earnings and Dividends Forecast (cents per share)
> 2006 2007 2008 2009
> ...



MS,

What's the pe based on? Is this out of the company reports, reported by Comsec?

Perhaps it's because BDG haven't started making $$ yet. I don't think they will for another 3 years. Sorry, need to look back through it myself, but they have only just started pouring gold, ramping up to full production in 2008 I believe, so no wonder it's low. And, this is where I believe the full value of BDG is as a TO target. It's all set and ready to ramp up as POG goes on to all time highs (maybe) with a market cap equiv to some goldies who's mines are going out. Would like to see a pe for them based on full production and $1000 POG in 2009. Unhedged.............

At the same time, there are a few risks. Another downgrade could send them to the sin bin.


----------



## Jrowl (27 December 2006)

LOL, junior mining doesn't have PE, they don't have earnings yet. The way you value a junior gold mining company is divide the total resource estimate by their market capitalisation and subtract the cost per ounce to produce. BDG has 495,433,780 shares at closing price today of .785 cents per share today which is a market cap of $388,915,517. Divide by 12,000,000 ounces of gold is $32.30. So your buying one ounce of gold in the ground for $32.30 worth of shares. The estimated cost of producing the gold is $360 an ounce, current market price for gold is $800 an ounce so there is a profit of $440. So for every $32.30 worth of shares you buy, $440 will be returned to you assuming over the mine life they extract all the 12 million ounces of gold and gold stays at $800 per ounce and cost of production stays at $360 per ounce.


----------



## Dr Doom (28 December 2006)

Jrowl said:
			
		

> LOL, junior mining doesn't have PE, they don't have earnings yet. The way you value a junior gold mining company is divide the total resource estimate by their market capitalisation and subtract the cost per ounce to produce. BDG has 495,433,780 shares at closing price today of .785 cents per share today which is a market cap of $388,915,517. Divide by 12,000,000 ounces of gold is $32.30. So your buying one ounce of gold in the ground for $32.30 worth of shares. The estimated cost of producing the gold is $360 an ounce, current market price for gold is $800 an ounce so there is a profit of $440. So for every $32.30 worth of shares you buy, $440 will be returned to you assuming over the mine life they extract all the 12 million ounces of gold and gold stays at $800 per ounce and cost of production stays at $360 per ounce.




I would be conservative and use the 11Moz inferred for the calcs,which gives you $35. Also I think the cost has increased to somewhere in the $400's,  - can you check this as I can't find it. Even so, that still gives you (at $400) profit of $400 /oz.

Also, there is potential for further reserve addition through exploration and better grades, as the historical grade is up around 17 oz/t, whereas BDG are budgeting at 7 oz/t. So let's look at it from another perspective ie the chance of an upgrade to historical grades, and you have a mine with approx 20M oz. Lots of potential, very oversold in current climate.

Calcs at 20M oz = $20 returning $400  :


----------



## Profitseeker (28 December 2006)

The Mint Man said:
			
		

> Hmm, interesting. Maybe he can have a word with newcrest about a takeover
> good to see we have got some connections though.
> 
> cheers




This is the article that really gets me excited considering the connection: 

Newcrest Mining eying off local buys
Thursday Oct 26 14:24 AEST

Newcrest Mining is considering local acquisitions while preparing itself for any possible takeover approaches amid a strong future outlook.

Newcrest Mining's chairman Ian Johnson told shareholders the outlook for the gold and copper miner is positive, despite going industry cost pressures.

"The outlook for the company in 2007 and beyond remains strong," he told shareholders at the company's annual general meeting.

But the resources boom had resulted in "continuing upward cost pressures at all of the company's operations".

Chief executive Ian Smith said future expansion may come from mergers and acquisitions (M&A).

"We're pursuing opportunities for early entry M&A with several local companies," he said.

He also said after the meeting that Newcrest should be in a position to announce a memorandum of understanding with another entity "in the next couple of weeks".

Mr Johnson also told shareholders the company had recently updated a prepared target's statement, in case of a possible takeover approach.

"The phone hasn't rung, we're just getting ready," Mr Johnson said.

"Every several years (the target's statement) is updated at great lengths and that was done this year ... at a week or two's notice we can send it out to shareholders."

Mr Smith added that he was not expecting an approach in the short-term.

"We're attractive to various groups but I wouldn't expect an approach in the foreseeable future," he said.

"If there was to be an approach it would come from the gold sector and I think they're all fairly well-occupied."

Mr Smith, who joined the company earlier this year, also said Newcrest is looking at its hedging position, which has prevented it from taking advantage of spikes in the gold price.

"We're looking at opportunities to change the profile of the hedge book," he said.

"By Christmas we should have a definitive decision."

Mr Johnson told shareholders that the underground mine at its troubled Telfer project in Western Australia has completed construction.

"This is now ramping up and should achieve name plate capacity by March 2007," he said.

Newcrest declined to give earnings or production guidance at the meeting, saying it would provide some forecasts in its quarterly production report on Monday.


----------



## The Mint Man (28 December 2006)

:iagree: 
Tese coments in particular stand out like dogs balls to me


> Chief executive Ian Smith said future expansion may come from mergers and acquisitions (M&A).
> "We're pursuing opportunities for early entry M&A with several local companies," he said.




One question though. What does he mean by 'early entry'? 
early entry, as in before a company hits it's straps?
If so then I would say BDG fits the glove perfectly! IMO

cheers


----------



## Profitseeker (28 December 2006)

That is how  I read it mint man and they would have all the inside knowledge from their man on the board.


----------



## Dohes7 (3 January 2007)

BDG reached a new Low today! Really need some positive announcements soon!


----------



## fma007 (3 January 2007)

Yeah - anyone know when any news is due? whats in the pipeline?

Thanks


----------



## Sean K (3 January 2007)

Dohes7 said:
			
		

> BDG reached a new Low today! Really need some positive announcements soon!



Almost a 10 year low!!!!!! And is coming into production when POG is probably moving onto greater highs.   

Real negative opinion about the stock out there at the moment. 

Interesting that on the one year chart the MACD has been climbing for a few months, and just turned on this 10 year chart.

(I'm holding - I like frustration and pain)


----------



## rub92me (3 January 2007)

These guys need a good PR person pronto. Dare I suggest they approach our feathered friend?   A cute picture or two with some recently poured gold wouldn't hurt either.


----------



## The Mint Man (3 January 2007)

kennas said:
			
		

> Almost a 10 year low!!!!!! And is coming into production when POG is probably moving onto greater highs.
> 
> Real negative opinion about the stock out there at the moment.
> 
> ...



I cant agree more, coming into production, 11mil ounces, further exploration to come etc. POG gone back up to around $640 and BDG goes down???  
Im holding, seems to me that there is more reason to hold then sell at this point in time. 

cheers


----------



## Jrowl (4 January 2007)

In my opinion, if you sell this stock, it will shoot up like a stock does when you sell. I think this is the bottom for the stock.....


----------



## barney (4 January 2007)

The Mint Man said:
			
		

> I cant agree more, coming into production, 11mil ounces, further exploration to come etc. POG gone back up to around $640 and BDG goes down???
> Im holding, seems to me that there is more reason to hold then sell at this point in time.
> 
> cheers





Howdy MM, This sure is a frustrating stock. I've tried my hardest to find something positive on the chart, but there's nothing.  Plus last two days, SP dropping on increasing volume; POG down overnight ......... "Not happy Jan"

I guess the only thing is, it can't get too much lower ....... can it  

Bumpy ride I suspect, but if it runs, seat belts may be required!!  Good luck all, Barney.


----------



## Sean K (4 January 2007)

barney said:
			
		

> Howdy MM, This sure is a frustrating stock. I've tried my hardest to find something positive on the chart, but there's nothing.  Plus last two days, SP dropping on increasing volume; POG down overnight ......... "Not happy Jan"
> 
> I guess the only thing is, it can't get too much lower ....... can it
> 
> Bumpy ride I suspect, but if it runs, seat belts may be required!!  Good luck all, Barney.



I agree Barney, in that, I think that once a positive broker report and a confirmation of resources come out then this could change direction very quickly. Senitment is way way off. Plus, once the market is sure the 11m oz is actually there, perhaps a predator will look more seriously at it, if they haven't already. It has a market cap of less than most U explorers with 'prospects' at the moment and it has $7 ish billion in the ground about to be dug up, less costs.   Of course, another hint of a reserve downgrade and who knows where it'll end up!


----------



## Dr Doom (4 January 2007)

Good looking weekly chart, esp the MACD. 12 months time we will look back and see a good accumulation opportunity. Hang in there comrades


----------



## The Mint Man (4 January 2007)

It probably didnt help that the Daily Telegraph (saturday 30th dec) had a list of the best performing Resource stocks but just happenend to mention BDG as the worst.
I cant find the article on the net so I will have to write it, I will just write the bit concerning BDG as it would take forever for me to write the whole lot.


> *Resource stock end up on top*
> "The stocks that benifited most strongly included Zinifex [up 173 per cent], Kagara [207 per cent] Minara [208 per cent] and Jubilee [109 per cent], " he said. _[edit: 'he' being Damian Graham, head of Australian equities at Macquarie Private Portfolio Management]_
> However not all companies shared in the commodities bonanza.
> Gold explorer Bendigo Mining slipped 53 per cent to finish bottom of the list, with centennial coal [down 25 per cent] and consolidated mineral [down 30 per cent] also ranking in the bottom five.




However if I was looking for a gold company to invest in then (after some research) I would seriously consider buying BDG after reading that, as they have had their fall. Whats been going on lately is childs play IMO and I dont think it will go much further. Considering where it has come from (52 week high of $2.60  ) then I would say BDG has more UP sides then down sides. But Im not going to go back over all the reasons I say this, instead:
Check this out - 2006 (BDG) AGM address to shareholders, my favorite page is number 13 or slide 8 as it shows just how good this mine is!!! but there are plenty of other reasons that this is a good share.... one simply being the fact that they have a workforce to get the work done.
Anyway have a read of that Im sure you will see what I mean.

Cheers  

PS: you can find a better quality copy on your brokers web site but I thought I better put this one up for the lazy people.


----------



## YOUNG_TRADER (4 January 2007)

Stopped out at 74c on CFD's about $2500 loss   

But then its one of my first losses in awhile so   

But then when I was choosing which CFD to go after I picked between BDG and PEM(@$3)  so    

What a dog!


----------



## Sean K (4 January 2007)

YOUNG_TRADER said:
			
		

> Stopped out at 74c on CFD's about $2500 loss
> 
> But then its one of my first losses in awhile so
> 
> ...



Whoof whoof. 

Should rise now I reckon YT  

I think you've been unlucky with the timing. 

$2.5k will just offset some of those capital gains. No sweat!


----------



## Jrowl (4 January 2007)

Lets look at the facts 

The fall from $1 was due to dilution of the stock by 12.5% which brought it down the $.80 level. There are some more concerns BDG may offer some more stock to sell but since they are already now pouring gold, they shouldn't need to do this anymore.

Market cap at $.73 is 361,665,747 divided by 11,000,000 is $32.87 dollars per ounce. They have alot of assets such as a crushing plant and mine in place which cost 60 million approx and other assets. That would bring the gold in the ground if you subtract the cost to about $25 an ounce. Most jounior mines have only poked holes in the ground, have no mine built or anything and their share price to ounces in the ground is higher than BDG and there is still a question mark if they will ever mine the gold. BDG are going to mine the gold, they would not have spent 10 tens of millions to build a plant if they were not going to mine the gold. I think compared to other mining companies out there none represent the value compared to bdg.


----------



## SevenFX (4 January 2007)

If this was my wife, I would have filed for divorce some time back, nor matter what she said was going to happen in the future or what great qualities she had...

Only Kidding, I prob give here a second & third chance  : , but not for this share.

No Emmotion, Just Profit. 

*Trade What You SEE, Not what you FEEL.* RIGHT...???


----------



## Jrowl (4 January 2007)

At $.73 people are capitulating which generally means a bottom. I think if you can buy gold for $32 an ounce which there is a good chance of it being dug up, it's almost as good as gold in the hand minus the expensive price.


----------



## The Mint Man (4 January 2007)

SevenFX said:
			
		

> If this was my wife, I would have filed for divorce some time back, nor matter what she said was going to happen in the future or what great qualities she had...
> 
> Only Kidding, I prob give here a second & third chance  : , but not for this share.
> 
> ...



fair enough, but
1. I see decent figures and a chance at a very good profit.
2. I feel your fear but I do it anyway (see your sig)  : 

cheers


----------



## SevenFX (4 January 2007)

Jrowl said:
			
		

> At $.73 people are capitulating which generally means a bottom..



Hi Jrowl,

I not trying to run this stock down at all, just calling it as I see the chart.

It's been said, were at the botton 4 a while now and I *nearly* bought into that at the 80c consoledation mark..... even called it wrong when trend changed intraday to 85c back then.

I'm of the opinion it's still got some more to fall, b4 trend will change....



			
				SevenFX said:
			
		

> Agree it certainly not a shabby stock, even thought some aren't in favour of current management....
> 
> Guess the question was being asked all the way down "how much Lower can it go"...???? which not many thinks it will fall further, as there seems to be more of a chance it will turn up, than further down.
> 
> ...




Just IMO
Cheers
SevenFX


----------



## SevenFX (4 January 2007)

The Mint Man said:
			
		

> fair enough, but
> 2. I feel your fear but I do it anyway (see your sig)  :




Hey TMM.

You must have plenty of money aside.... and hope it pays off 4 you. 

Are you in profit on BDG or in loss Mint Man....????

SevenFX


----------



## Jrowl (4 January 2007)

Yes I do aggree too, the chart doesn't look fantastic at the moment, but it is undervalued so I will stick with it. It could goto .50 cents.


----------



## SevenFX (4 January 2007)

Jrowl said:
			
		

> Yes I do aggree too, the chart doesn't look fantastic at the moment, but it is undervalued




I 2 agree it is well much undervalued, and only 2 happy to buy in, just after confirmed trend change.

I have been watchin this for some time, and sure many others have 2.

SevenFX


----------



## Dr Doom (4 January 2007)

My calcs show a value of the gold in the ground (at current prices & costs) for BDG of approx $4.00, AFTER I have discounted the resources by 50 %. 
There are a couple of things to keep in mind here - 
- All of the capital raising's have been well supported by some big insto's
- these insto's and other 'smart' money are quietly sitting on the sidelines ready to top up.
- Tech analysis largely becomes meaningless here, the same as when a company is going up logarithmically: depends solely on emotion and greed (going up)& worry (going down).
As long as you have some idea of the companies real worth (at current conditions eg POG) then you wait for the emotion to subside and jump in when the action starts, or keep tight stops, which is probably what's happening now eg stops getting triggered.

Capitulation time is close


----------



## SevenFX (4 January 2007)

Dr Doom said:
			
		

> - Tech analysis largely becomes meaningless here, the same as when a company is going up logarithmically: depends solely on emotion and greed (going up)& worry (going down).





Hi DD.

Isn't Everything factored into the Chart, Inc Sentiment, esp on a stock like this....??????

Cheers
SevenFX


----------



## Dr Doom (4 January 2007)

SevenFX said:
			
		

> Hi DD.
> 
> Isn't Everything factored into the Chart, Inc Sentiment, esp on a stock like this....??????
> 
> ...




Not in this case I don't think. Depends if you think TA leads the way or follows the market. The current chart doesn't appear to factor in the next announcement being good, but (the market) is surmising that there will be more bad news. I still think it is capitulation by weak hands. Depends on your pain threshold I suppose. But if you invest in gold stocks you have to expect sudden price movements - both ways. As an aside, I'm still holding some stocks that have been showing a loss for months, but are starting to get re-rated by the market for their potential. Goes to show that if the fundamentals are there, and barring any catastrophic news (& I don't think the downgrade is) then eventually the rest of the market catches up.

DD


----------



## The Mint Man (4 January 2007)

Considering the day we had on the market today, I dont think BDG faired that badly!!
I mean BDG only lost 2% by days end compared to mostly 4% (and up to 6%)by other companies on my materials watchlist. 
Those others being the likes of:
ZFX -6.27%, BHP -4.36%, RIO -4.24%, LHG -4.44%, NCM -4.48%, OXR -4.10%, SGX -5.94%, AAO -4.76%... etc etc etc.the list goes on.
So 2% not so bad after all!!!  

cheers


----------



## barney (4 January 2007)

Dr Doom said:
			
		

> My calcs show a value of the gold in the ground (at current prices & costs) for BDG of approx $4.00, AFTER I have discounted the resources by 50 %.
> There are a couple of things to keep in mind here -
> - All of the capital raising's have been well supported by some big insto's
> - these insto's and other 'smart' money are quietly sitting on the sidelines ready to top up.
> ...





Hi Dr D (You look like a friend I once knew!!) .......... Re the Capitulation ......... I said in my previous post I could not find anything on the chart to give me hope ........ but ............ after today I see something interesting ........... don't know whether you guys give much creedence to the Ch. Oscillator,  but I've found it to give some very interesting "preminitions" ................ I think your capitulation theory is close to the money .............. Any idea at what stage the next ann. re the mine etc. is likely to come out?? ........ I suspect we may not be far from a corrective bounce on BDG ...see graphs below ......... Good luck to holders, Barney.


----------



## The Mint Man (4 January 2007)

Just noticed this in the news section of comsec:


> Date: 4/1/2007
> Author: Barry FitzGerald
> Source: The Age --- Page: A12
> Speculation about a management restructure has forced Bendigo Mining's share price to its lowest level since late 2004. Cost overruns and overestimated reserves at the group's historic Victorian goldfield have coincided with conjecture about whether the chairman and MD are leaving the company. Bendigo shares closed at $A0.75 on 3 January 2007, down 53% compared with early 2006.



It appeared in both 'The Age' and 'The Sydney Morning Herald'. I think Barry Fitzgerald wants to get in a bit cheaper before it runs


----------



## barney (4 January 2007)

The Mint Man said:
			
		

> Just noticed this in the news section of comsec:
> 
> It appeared in both 'The Age' and 'The Sydney Morning Herald'. I think Barry Fitzgerald wants to get in a bit cheaper before it runs




That looks "Bullish" to me as well .......... Never trust a Journo   I think I might get back in tomorrow ..... there's something brewing.    Actually he is doing us all a favour in the long run .....SP is down, but you know what they say ....... Any advertising is good advertising (Look at AWB for eg.)


----------



## The Mint Man (4 January 2007)

As a reply to the quoted material in my above post I would like to point out the following which can be easily found by reading BDG's announcements. The media chooses to turn a blind eye to this, instead making up stories.


> From the BDG announcement titled 'The Way Forward' dated 19/10/06
> *The reserve downgrade does not impact the 11 Moz Inferred
> Resource.*
> • The Company is confident grades will increase from less than 9 g/t gold
> ...



IMO, this Barry FitzGerald is only saying things that have already been said before which are not true. As for the Speculation about a management restructure, got any proof of this? and if this turned out to be true, who knows? this could be a good thing after all!!

any comments people?

cheers


----------



## The Mint Man (4 January 2007)

barney said:
			
		

> Any advertising is good advertising (Look at AWB for eg.)



True. come to think of it... they (BDG) have been in the press 3 times over the last week or so, The Age, Telegraph and herald.


----------



## $20shoes (5 January 2007)

My take on BDG sees today as being potentially very significant. We finished yesterday with a Doji candle. Although the black candle the day before was not overly large, most would agree it was significantly bearish (breaking support) and coming after two months of churning. You can see Thursday's doji found support on a long-term down-sloping support line. So, could we see a morning star develop?? (today's candlestick would need a long white body which closes in the top half of the body of Wednesday's bearish candle).
Of course, the flipside is we may see a breach of that support line, and a likelihood she'll move down to the 60c range. 

Or, of course she could keep heading SE even if she does respect that line. Hmmm, we'll wait and see. 

PS - what a world of pain I've found myself in with BDG


----------



## $20shoes (5 January 2007)

and another pic...


----------



## SevenFX (5 January 2007)

Ohhhhh BDG NEWS !!!!!!


----------



## Sean K (5 January 2007)

Trading Halt.    I think I'm going to become a little poorer shortly.

Or, takeover!!!!!!!!!!!!!!!!!!!!!!   

Maybe nothing.........


----------



## fma007 (5 January 2007)

I'm very nervous on this one.   
Didn't an article last week say that they were going to publish production reports early or something?


----------



## Sean K (5 January 2007)

fma007 said:
			
		

> I'm very nervous on this one.
> Didn't an article last week say that they were going to publish production reports early or something?



I'm thinking worst case here fma. Perhaps another set of bad numbers!


----------



## SevenFX (5 January 2007)

Whats all these dud 598 bids in both buys n sells... 

Minup price yes...???? though had no effect on open price.


----------



## $20shoes (5 January 2007)

Damn, there goes my morning star theory   

Well, let's hope something positive transpires. Even the law of probabilities (that's what I'm banking on now) says we are about due for some positive news.


----------



## The Mint Man (5 January 2007)

Hmmm, sit back and see what happens. No use worrying about it, what will that do?
Hopefully some good news, if not then sell.

cheers


----------



## SevenFX (5 January 2007)

The Mint Man said:
			
		

> Hmmm, sit back and see what happens. No use worrying about it, what will that do?
> Hopefully some good news, if not then sell.
> 
> cheers




So are you in the red or black on this one Mint Man....????

News out Tuesday, but can always come out earlier...


----------



## The Mint Man (5 January 2007)

I was hoping that you would work out that that was a silly question before I had to point it out to you...  
I say this as when you asked yesterday the price was $0.725, for anyone to be in profit you would have bought into BDG around 2 years ago   And anyone that bought 2 years ago should have sold out when it was $2.60.

how do you make any profit? considering you seem to sell as soon as youve lost a few bucks.

cheers


----------



## fleathedog (5 January 2007)

This looks bad... 

They were saying in Oct in an open briefing that they expected to hit higher grade ore in Nov-Dec. Why would they halt trading in securities to tell us what they expected to happen came to pass?

The continuous disclosure rules require all material information be published, so it could indeed be a positive announcement. But given recent history I'm not terribly confident. 

Thankfully I sold half @ $2.40 after an initial buy price of 80 cents, but then bought back in at around $1.60. So overall I'm pretty much square, but this latest ann could send me into the red...

Anyway that's my 2 cents. Good luck everyone!! Say your prayers


----------



## Gundini (5 January 2007)

I wish you guys all the best with the news, and hope it's positive for all holders. Unfortunately, I sold out a couple of days ago @ .775. This stock has cost me a fortune to hold, and always disappointed.

The fact that I don't hold anymore suggests the news will be a bottler!


----------



## Jrowl (5 January 2007)

Any reason for the trading halt yet?

They still have not announced anything


----------



## Freeballinginawetsuit (5 January 2007)

Jrowl said:
			
		

> Any reason for the trading halt yet?
> 
> They still have not announced anything




BDG Management were quite clear in their halt request they expected to be in a position to announce shortly and by Tuesday at the latest. Plain and simple.

The halt could be related to the Eaglehawk decline or management getting canned  with them finally admitting they cant organize a fart in a trance, let alone dig a hole and shift some dirt. Maybe their flop of a SPP left them short on cash and they need to issue some more at 50c lol, to entice some new punters .

All in all if BDG post any sort of announcement that reflects badly on their mining at Kangaroo Flats, market confidence in them will be shot! and they will struggle to recover/short term.

Personally I hope some other outfit like Barrick or the like, swallows them up purely for their reserves...... hmmmmmm, better not be a 'Reserves' related announcement   .


----------



## fma007 (6 January 2007)

Ouch. Well. might be a good thing that management is given the boot.



> Chiefs likely to step down
> 
> Stephen McMahon
> 
> ...


----------



## YOUNG_TRADER (6 January 2007)

YOUNG_TRADER said:
			
		

> Stopped out at 74c on CFD's about $2500 loss
> 
> But then its one of my first losses in awhile so
> 
> ...






			
				fma007 said:
			
		

> GOLD miner Bendigo Mining is expected to announce cost overruns and lower than expected production levels in its December quarterly report, early next week.




Woof Woof!


----------



## fma007 (6 January 2007)

I'm hoping they're wrong!!


----------



## Profitseeker (6 January 2007)

They generally aren't.


----------



## Feng (7 January 2007)

FYI
http://www.theage.com.au/news/busin...bn-door-for-bhp/2007/01/05/1167777281063.html

■ Nervous days are ahead for the 260 workers at the Bendigo gold project. Shares in the project owner, Bendigo Mining, were yesterday placed in a trading halt pending an announcement early next week.

That announcement is expected to cover the group's reaction to the project failing, initially at least, to meet ore tonnage and gold grade expectations. Job losses among the workforce as well as at the board level are expected as the group takes a more cautious approach.

Bendigo Mining shares last traded at a 26-month low of 73.5 ¢ a share.

Market speculation before the trading halt was that Bendigo's chairman since last January, prominent mining consultant Peter McCarthy, and the group's managing director of 11 years, Doug Buerger, were ready to step down. The company would not comment at the time. Next week's announcement will include an early release of the group's December-quarter production report.


----------



## Sean K (8 January 2007)

Feng said:
			
		

> FYI
> http://www.theage.com.au/news/busin...bn-door-for-bhp/2007/01/05/1167777281063.html
> 
> ■ Nervous days are ahead for the 260 workers at the Bendigo gold project. Shares in the project owner, Bendigo Mining, were yesterday placed in a trading halt pending an announcement early next week.
> ...



Hi Feng,
I'd be very surprised if this report was not the truth. BDG holders (like me) will be feeling some pain when this ann is released I imagine. However, I am also looking to an opportunity to take advantage of any overreation in the market. The sp could be absolutely smashed if there is some bad results, and what are they going to be? That they only have 5 m oz instead of 11?  Hmmm, I am looking at cashing in on any knee jerk reaction here. I am a holder of BDG (buy at around $0.80) but see this as an opportunity. The entire logistic network and worforce is set up and operating. Are they going to just halt it? Or, will administrators come in and close it down? I am going to watch this very closely and also the ann to see what might lay ahead. There are opperating mines around Australia with far less than 5 m oz and opperating efficiently......we'll see.
At the same time, everyone needs to evaluate the situ and make their own call. There are some great trading opportunities out there and our cash in BDG might be best spent elsewhere...
All the best.


----------



## Freeballinginawetsuit (8 January 2007)

I am not a happy camper, not at all!. This is the first real monkey Ive been holding for 06/07, ahhh.....the pain .


----------



## deftfear (8 January 2007)

kennas said:
			
		

> Hi Feng,
> I'd be very surprised if this report was not the truth. BDG holders (like me) will be feeling some pain when this ann is released I imagine. However, I am also looking to an opportunity to take advantage of any overreation in the market. The sp could be absolutely smashed if there is some bad results, and what are they going to be? That they only have 5 m oz instead of 11?  Hmmm, I am looking at cashing in on any knee jerk reaction here. I am a holder of BDG (buy at around $0.80) but see this as an opportunity. The entire logistic network and worforce is set up and operating. Are they going to just halt it? Or, will administrators come in and close it down? I am going to watch this very closely and also the ann to see what might lay ahead. There are opperating mines around Australia with far less than 5 m oz and opperating efficiently......we'll see.
> At the same time, everyone needs to evaluate the situ and make their own call. There are some great trading opportunities out there and our cash in BDG might be best spent elsewhere...
> All the best.




Be wary of doing this Kennas, I tried this when it made the bad announcement about reserves when the SP was around $1.30, bought at $1.01 and eventually sold out at around $0.82 as it looked like it would keep on going down and down. If traded better a quick 10% could have been made. This stock really needs to bottom out and put out some good news for a change to get it going in the right direction.

I was also thinking the same way as you, they were only decreasing the reserves by about 30% I think, but they have so much more as indicated resources, so who cares if their reserves are going down a bit....but I got that hugely wrong, it just kept going in the other direction.


----------



## Sean K (8 January 2007)

deftfear said:
			
		

> Be wary of doing this Kennas, I tried this when it made the bad announcement about reserves when the SP was around $1.30, bought at $1.01 and eventually sold out at around $0.82 as it looked like it would keep on going down and down. If traded better a quick 10% could have been made. This stock really needs to bottom out and put out some good news for a change to get it going in the right direction.
> 
> I was also thinking the same way as you, they were only decreasing the reserves by about 30% I think, but they have so much more as indicated resources, so who cares if their reserves are going down a bit....but I got that hugely wrong, it just kept going in the other direction.



Thanks deftfear, I agree this is potentially a bad move. Might be best to cut losses for a while and reevaluate. Or, just never look at it again.....Will see what the ann says first I suppose...


----------



## Feng (8 January 2007)

Hi, Kennas,
Be careful! 
Hope some bargain hunters come in when it happens.
all the best!


----------



## petee (8 January 2007)

Freeballinginawetsuit said:
			
		

> I am not a happy camper, not at all!. This is the first real monkey Ive been holding for 06/07, ahhh.....the pain .



dont worry freeballing..all of us a sitting on a loss...mine is 3K to date on BDG...what is everyones position on BDG


----------



## Compol (8 January 2007)

7K so far; spare a thought for some individuals who'll be 100 times that!


----------



## petee (8 January 2007)

Compol said:
			
		

> 7K so far; spare a thought for some individuals who'll be 100 times that!



yea i know ..sad really..heard of a guy already down 160K..lets hope some better news but really not confident


----------



## Feng (8 January 2007)

here is two more articles mentioned BDG

http://www.bloomberg.com/apps/news?pid=20601081&sid=aJudtdpuUaSI&refer=australia

Australian stocks:

Bendigo Mining Ltd. (BDG AU) lost 1.5 cents, or 2 percent, to 73.5 cents. The company is expected to cut its production figures and may reveal further delays to its mine development program this week, the Australian Financial Review said, without citing anyone. 

http://www.news.com.au/couriermail/story/0,23739,21017512-3122,00.html

GOLD miner Bendigo Mining is expected to announce cost overruns and lower than expected production levels in its December quarterly report, early next week.
The struggling miner's chairman, Peter McCarthy, and managing director, Doug Buerger, are also believed to be planning to step down when the company comes out of a trading halt, on Tuesday at the latest.

This double blow could badly damage the company's efforts to revitalise Victoria's gold fields.

The company's decision to go into a trading halt yesterday happened after the stock lost almost 6 per cent in three days of trading to close on Thursday at 73.5 ¢ – a two-year low.

 ¢In 2006 Bendigo was the worst performing stock on the benchmark S&P/ASX 200 Index.

cheers!


----------



## Feng (8 January 2007)

waiting for bad news

http://abc.net.au/news/items/200701/1823237.htm?centralvic

Bendigo Mining quarterly report due
Monday, 8 January 2007. 15:15 (AEDT)Monday, 8 January 2007. 14:15 (ACST)Monday, 8 January 2007. 14:15 (AEST)Monday, 8 January 2007. 15:15 (ACDT)Monday, 8 January 2007. 13:15 (AWDT)

Embattled gold mining company Bendigo Mining is expected to release its December quarterly report today.

Bendigo Mining shares were at a two-year low when trading was suspended on Friday, after a lower-than-expected gold production forecast.

Bendigo Mining's managing director, Doug Buerger, says the company's December quarterly report will be released later today, and until then he has no comment.

There is speculation Mr Buerger and the chairman, Peter McCarthy, are planning to step down.

Trading in the shares is expected to resume tomorrow morning.


----------



## Gundini (8 January 2007)

The Ann is on their website now guys, not good, but could be worse, let you be the judge, alot of reading, good luck.

Cheers   

www.bendigomining.com.au


----------



## The Mint Man (8 January 2007)

Yeh, seen it at about 7pm.... just happened to notice it on ASX.  
cheers


----------



## Sean K (8 January 2007)

Perhaps we should have a poll on how much BDG will be smashed tomorrow. I reckon about 50%. I was considering that there could be a knee jerk sell off very early and a chance to buy and then catch the recovery. Maybe not......

I wonder if this new strategy  was briefed to the institutions who participated in the spp at $0.80?   I can feel a class action comming on. There will be some analysts getting their ar!ses kicked here. 

So, do they still have 11 m oz au inferred?


----------



## Jrowl (8 January 2007)

BDG

Kennas, I think they do sorta???


----------



## Gundini (8 January 2007)

kennas said:
			
		

> Perhaps we should have a poll on how much BDG will be smashed tomorrow. I reckon about 50%. I was considering that their could be a knee jerk sell off very early and a chance to buy and then catch the recovery. Maybe not......
> 
> 
> So, do they still have 11 m oz au inferred?




Well I am not sure, but market cap of $364m, right off between $90m and $210m, does that equate to market cap of $274 best case, or $154 worst case, I'm not sure? Would that mean 25% wiped off (.18 cents), or 42% (.30 cents). Somewhere in between I would think, but not sure how these writedowns work with tax and all....


----------



## Jrowl (8 January 2007)

Just saw an article about bdg on yahoonews.

Full article:
http://au.biz.yahoo.com/070108/30/11kxn.html 



> Shares in Bendigo have been in a trading halt since Friday, but its stock plummeted in October after it slashed its reserves estimate by a third.
> 
> Its Victorian-based New Bendigo Project was thought to have reserves of 191,000 ounces of gold and while that figure will fall, the inferred resources of 11 million ounces in unchanged.
> 
> ...




I'm not sure what way it could go tomorrow, still down probably but with people worried about a takeover....that generally should add value to the share price. They say they still have their 11mil inferred resource so thats good for starters. Renting out their equipment (good prices being paid today) Pity though to see the gold crushing plant sitting idle.


----------



## Freeballinginawetsuit (8 January 2007)

Hmmm, well BDG were worth more prior to production anyway. If they can prove they have reserves and mineable, lol, I thought they had already done that prior to failed production  , who know's.

Geez this has been a whole shambles, talk about a backwards step. BDG weren't a specky and seemed quite good fundamentally. Explorer to Miner and back to explorer defining reserves again, absolutely pisspoor management!.

In the end I am just going to hold my shares, Im down 35k they will either go up and I will hold for CGT or I will cut the loss at the appropriate time and offset it against my trading profits.


----------



## blueroo (8 January 2007)

Yeah, same here Free. Down $6k but will probably hang on. Broke my rule and canceled my Stop Loss last Wednesday.


----------



## YOUNG_TRADER (8 January 2007)

YOUNG_TRADER said:
			
		

> Woof Woof!




As my friends the Bah Ha Men would say, 

"Who let the dogs out?"


----------



## barney (8 January 2007)

YOUNG_TRADER said:
			
		

> As my friends the Bah Ha Men would say,
> 
> "Who let the dogs out?"




Be nice YT, Some people are suffering!! 

(I got stopped out a few weeks back so no longer hold ....)

As Kennas pointed out in an earlier post .... there may be a severe knee jerk reaction on this, and it may well present a longer term opportunity ......... 

Good luck to those still in ........ that feeling of impending uncertainty is unpleasant, but things can always be worse ..............


----------



## Feng (8 January 2007)

Here is two more articles mentioning BDG:

http://www.bloomberg.com/apps/news?pid=20601081&sid=aJudtdpuUaSI&refer=australia

Australian stocks:

Bendigo Mining Ltd. (BDG AU) lost 1.5 cents, or 2 percent, to 73.5 cents. The company is expected to cut its production figures and may reveal further delays to its mine development program this week, the Australian Financial Review said, without citing anyone. 

http://www.news.com.au/couriermail/story/0,23739,21017512-3122,00.html

GOLD miner Bendigo Mining is expected to announce cost overruns and lower than expected production levels in its December quarterly report, early next week.
The struggling miner's chairman, Peter McCarthy, and managing director, Doug Buerger, are also believed to be planning to step down when the company comes out of a trading halt, on Tuesday at the latest.

This double blow could badly damage the company's efforts to revitalise Victoria's gold fields.

The company's decision to go into a trading halt yesterday happened after the stock lost almost 6 per cent in three days of trading to close on Thursday at 73.5 ¢ – a two-year low.

In 2006 Bendigo was the worst performing stock on the benchmark S&P/ASX 200 Index.


----------



## Feng (8 January 2007)

Gundini said:
			
		

> The Ann is on their website now guys, not good, but could be worse, let you be the judge, alot of reading, good luck.
> 
> Cheers
> 
> www.bendigomining.com.au




sorry! it is mistake!


----------



## YOUNG_TRADER (8 January 2007)

barney said:
			
		

> Be nice YT, Some people are suffering!!
> 
> (I got stopped out a few weeks back so no longer hold ....)
> 
> ...




Sorry to hear B,

I got stopped out last week at 74c,

I'm angry with this company, such great potential, such **** management, doesn't matter whether its BMO or BDG goldies have lost their allure for me!

Over promise and then under deliver

Good luck to others


----------



## Sean K (9 January 2007)

I have a match price of 28 cents atm.  

Is this oversold and a chance to buy some and then sell when they bounce to say 40 cents? Just thoughts....


----------



## SevenFX (9 January 2007)

kennas said:
			
		

> I have a match price of 28 cents atm.
> 
> Is this oversold and a chance to buy some and then sell when they bounce to say 40 cents? Just thoughts....




Far Outtttt... Talking about an *Over Reaction*

Down 61% b4 mkt Opens....


----------



## YOUNG_TRADER (9 January 2007)

My IOP was 28c too, now 30c, but vol of less than 1m so an insto could easily provide a floor at 60c by putting up buy order for 1m


Thank god CFD's have GSL's and I was stopped out last week


----------



## Sean K (9 January 2007)

Well, I've taken a gamble and bought some on open expecting knee jerk reaction and slight recovery.


----------



## reece55 (9 January 2007)

Kennas
All you had to do was read the market depth this morning for BDG and you knew it was going to come back. I saw the same thing happen when CAZ had their mining licence stripped from them.

In at 29 cents, out at 32.5.....

Easy money.....

Cheers
Reece


----------



## SevenFX (9 January 2007)

kennas said:
			
		

> Well, I've taken a gamble and bought some on open expecting knee jerk reaction and slight recovery.




Out of Early Open Channel..

It's now found some direction, lookin better now

EDIT: In new channel at 34-35


----------



## Sean K (9 January 2007)

SevenFX said:
			
		

> It's now found some direction, lookin better now



If it finishes above $0.40 then I will have recovered my losses from initial purchase at $0.80.


----------



## SevenFX (9 January 2007)

Ranging again at 34-35 with 2.4m-2.6m sales resp

EDIT: Strong retracement to 34c from high of 36.5 with retouch highs of 36.5c


----------



## The Mint Man (9 January 2007)

well you were on the money kennas with the prediction of 50%.
cheers


----------



## Jrowl (9 January 2007)

I think this is the bottom, only going to go up from here. They still have their infered resource of gold which means you're buying gold for $15.50 an ounce in the ground!!!!! If I had some more money I would be topping up in bdg today.


----------



## SevenFX (9 January 2007)

EDIT: Wider range channel between *34.5*-36c with strongest sales at 35c being 6.1m and ave 4.8m either side...


----------



## Sean K (9 January 2007)

SevenFX said:
			
		

> Wider range channel between 34-36c with strongest sales at 35c being 6.1m and ave 4.8m either side...



Hmmm, lots of selling at $0.35 at the moment. I'd almost be happy with that. Early in the day though. I'm not sure if this is a bottom yet. I just can't see this having a market cap under $200m with even a third of their estimate. That's still 3m oz in the ground somewhere. I reckon there'd be a few bigger goldies looking at this now licking their lips. Unless of course, they have nothing in the ground. Still a risky proposition.


----------



## SevenFX (9 January 2007)

Narrow Channel between 34.5 (8.5m)-35c(9.1m)


----------



## Snakey (9 January 2007)

on at .32 /100k out  at 355 thanks bdg / tekmann 
saw the pre open at minus 60% bought after pre open and sold soon after that


----------



## SevenFX (9 January 2007)

Snakey said:
			
		

> on at .32 /100k out  at 355 thanks bdg/ tekmann




Can I borrow 100k Snakey...Please  

Interest Free...  :


----------



## chris1983 (9 January 2007)

There are way too many good stocks to choose from.  Personally and this is me I wouldnt touch BDG at current prices.  That announcement was a killer and they arent going to be progressing for quite some time.  They will probably recover etc etc but yeah too many other good stocks to choose from to get your money back IMO.


----------



## Feng (9 January 2007)

Looks stable at 0.33-0.35 rang.
Volume was about 6.5m when it was on open, now is 41m
Just too scared to jump in at the open. wearing big loss atm, no idea how to recover it.

Cross fingers!


----------



## Snakey (9 January 2007)

SevenFX said:
			
		

> Can I borrow 100k Snakey...Please
> 
> Interest Free...  :



dont think they will do you any good now tekmann ...may be waiting a week for this thing to hit rock bottom

do you remember what stock we discussed last week tekmann...yml on at 250k/.23 look now tekmann


----------



## SevenFX (9 January 2007)

chris1983 said:
			
		

> There are way too many good stocks to choose from.  Personally and this is me I wouldnt touch BDG at current prices.  That announcement was a killer and they arent going to be progressing for quite some time.  They will probably recover etc etc but yeah too many other good stocks to choose from to get your money back IMO.




You're Right Chris,

A buy of bdg would only be based on bounce for short term posi, and not hold.

Or as K said this could be a more attractive takeover now.


----------



## Snakey (9 January 2007)

Feng said:
			
		

> Looks stable at 0.33-0.35 rang.
> Volume was about 6.5m when it was on open, now is 41m
> Just too scared to jump in at the open. wearing big loss atm, no idea how to recover it.
> 
> Cross fingers!





how to recover big loss....sell and put your money on something else i learnt this from caz...loss $30 k


----------



## SevenFX (9 January 2007)

Snakey said:
			
		

> dont think they will do you any good now tekmann ...may be waiting a week for this thing to hit rock bottom
> 
> do you remember what stock we discussed last week tekmann...yml on at 250k/.23 look now tekmann




OK OK the money was really for a s/h 911 GTO porshce...

Nice buy snakey of yml as being watchin it 2, but got caught up with bdg 2 much


----------



## The Mint Man (9 January 2007)

Just found this... Interesting!


> Date: 8/1/2007
> Author: Jo Clarke
> Source: The Australian Financial Review --- Page: 12
> Bendigo Mining is experiencing some challenging times. This could reflect badly on other Victorian gold mining groups. In the week beginning 8 January 2007, Bendigo Mining is expected to release news of poor production figures. The group is currently in a trading halt and its shares last traded at $A0.735. Ballarat Goldfields has very similar projects to those of Bendigo Mining and it could be hurt by bad news from Bendigo Mining, which could also rub off on Lihir Gold. On 5 January 2007, shares in Lihir dipped to $A2.92, while Perseverance stayed stable at $A0.37 and Ballarat Goldfields was unchanged at $A0.27.


----------



## justjohn (9 January 2007)

Has a stock ever taken out the worst performing award 2 years in a row


----------



## The Mint Man (9 January 2007)

justjohn said:
			
		

> Has a stock ever taken out the worst performing award 2 years in a row



probably not! hehe
Ahh well maybe I will win back some of the loss on that $10 Scratchie you owe me : 
cheers


----------



## justjohn (9 January 2007)

Minty you have'nt lost until you sell :arsch: good luck on this play fellas, could go anyway lots of interesting bystanders looking on


----------



## Feng (9 January 2007)

Snakey said:
			
		

> how to recover big loss....sell and put your money on something else i learnt this from caz...loss $30 k




Thanks for the suggestion, 
I will definitely sell it out.


----------



## Jrowl (9 January 2007)

So who's sold out and at what price level?

I do feel pretty angry that 30 days after the SPP to the shareholders was finalised the shares tank over 60%, it's abit of scam, someone has made alot of money. How much was Doug Buerger paid anyway for doing such a wonderful job, and how much was he paid to step down?


----------



## Sean K (9 January 2007)

Jrowl said:
			
		

> I do feel pretty angry that 30 days after the SPP to the shareholders was finalised the shares tank over 60%, it's abit of scam, someone has made alot of money. How much was Doug Buerger paid anyway for doing such a wonderful job, and how much was he paid to step down?



I think we'll here more on this Jrowl. The instos will be screaming.


----------



## nizar (9 January 2007)

Kennas and others,

I cant believe you are still wasting your time trying to pick the bottom with this one    

Much better fish to fry out there.


----------



## The Mint Man (9 January 2007)

justjohn said:
			
		

> Minty you have'nt lost until you sell :arsch: good luck on this play fellas, could go anyway lots of interesting bystanders looking on



yes bystanders are quite interesting  :


----------



## Sean K (9 January 2007)

nizar said:
			
		

> Kennas and others,
> 
> I cant believe you are still wasting your time trying to pick the bottom with this one
> 
> Much better fish to fry out there.



Yeah, frying them too. I'm losing money all over the place!


----------



## Dr Doom (9 January 2007)

Kennas, gold is taking off, up to $612.
Buy in gloom???


----------



## Sean K (9 January 2007)

Dr Doom said:
			
		

> Kennas, gold is taking off, up to $612.
> Buy in gloom???



Could be a dead cat, but I hope not. I read a theory somewhere that money was taken out of the gold market after Christmas to be invested in the traditional equities push in Jan. So, maybe after a short foray some fund money will come back to gold...maybe. Of course there's all those other factors.....Once (if!) the planets align gold will continue the run IMO.


----------



## Dr Doom (9 January 2007)

Yes, it goes in cycles. God is being lumped in with commodities. Patience is a virtue with gold. Looks like I'll have to wait another 2 years for BDG to break even AGAIN!


----------



## Sean K (9 January 2007)

Dr Doom said:
			
		

> Yes, it goes in cycles. God is being lumped in with commodities. Patience is a virtue with gold. Looks like I'll have to wait another 2 years for BDG to break even AGAIN!



God is a commodity? LOL.


----------



## The Mint Man (9 January 2007)

Dr Doom said:
			
		

> Yes, it goes in cycles. God is being lumped in with commodities. Patience is a virtue with gold. Looks like I'll have to wait another 2 years for BDG to break even AGAIN!



here here!
But will they last that long? They say they have enough for 18 months exploration.


----------



## The Mint Man (9 January 2007)

kennas said:
			
		

> God is a commodity? LOL.



yes you can buy your way in when you need to and get out when you need to.... then just as your about to die, get back in and be saved.... then take advantage and sell out again. haha


----------



## toc_bat (9 January 2007)

reece55 said:
			
		

> Kennas
> All you had to do was read the market depth this morning for BDG and you knew it was going to come back. I saw the same thing happen when CAZ had their mining licence stripped from them.
> 
> In at 29 cents, out at 32.5.....
> ...




reece what exactly in the market depth do you read to be so sure? newbie after an education, thx


----------



## Jrowl (9 January 2007)

The chart says bdg is oversold, should jump up and trade around .45


----------



## Dr Doom (9 January 2007)

Some random notes - 

The last qtr produced approx 10koz - can we assume at minimum they can produce 40koz per year at least?(if when they start to produce).
= 40k X 650 less 40k X 250 = $16mil cash per year min, (conservative figures for pog and costs).


Can/will they start producing by the time the cash runs out in 2008?

Looks like the geologist has been shown the door, and a 'don't come back' miners boot up the ar!e farewell  : 

Today looks like capitulation day, barring further pog 'corrections'. It appears all the facts are on the table now, so people can do the sums and decide whether this is still a promising major or a 50k per year junior.

You have to give them credit for one thing, and that's the excellent money raising skills, even duping some of the best in business.

We will have to wait for the 'ceasing to be substantial shareholder' notices in the weeks ahead to see who still shares the vision.


----------



## Jrowl (9 January 2007)

gee back at .305

I can't believe the managment screwed over existing shareholders with the offer of the SPP, if you got the maximum which was $5000 it's now worth $1906.25. Such a loss in just 30 days.

Whos holding and whos selling?


----------



## Feng (9 January 2007)

looks like it is breaking .29

 

Should have sold


----------



## toc_bat (9 January 2007)

i know nothing about bdg except todays trading,

anyone care to supply a one to three sentence synopsis of what this co had done in the last year? why all this heartache?

thanks


----------



## Sean K (9 January 2007)

Will be interesting to see if we have a dead cat bounce tomorrow morning. It might not fit the criteria (ie, the stock might actually be fair value at $0.30) but it's a normal trading pattern when things get smashed like this.


----------



## SevenFX (9 January 2007)

Jrowl said:
			
		

> Should have sold




Who to Know... Don't beat yourself up over it.


----------



## Sean K (9 January 2007)

toc_bat said:
			
		

> i know nothing about bdg except todays trading,
> 
> anyone care to supply a one to three sentence synopsis of what this co had done in the last year? why all this heartache?
> 
> thanks



They seem to have built a mine that doesn't have any gold in it. Just dirt. 

Overestimated the grade basically. Back to school for the geologist.


----------



## toc_bat (9 January 2007)

kennas said:
			
		

> Will be interesting to see if we have a dead cat bounce tomorrow morning. It might not fit the criteria (ie, the stock might actually be fair value at $0.30) but it's a normal trading pattern when things get smashed like this.




kennas,

the bounce today was pretty good, 25%, is it likely it may happen again?

i have no cash left so cant involve myself but am trying my hand at an amateurish study of bounces or picking lows,

cya

ps thanks for your summary of BDGs activities,


----------



## nizar (9 January 2007)

kennas said:
			
		

> It might not fit the criteria (ie, the stock might actually be fair value at $0.30)




LOL i remember you saying this might have found a bottom at 70-80c because of the insto placement.

Let this be a lesson to every1: Once a dog, always a dog.

We are in a bullmarket, its not as if we are in shortage of winners, so try to buy stocks at all time highs, please, instead of catching the ones at all time lows, and then we can all make money and be happy


----------



## Sean K (9 January 2007)

toc_bat said:
			
		

> kennas,
> 
> the bounce today was pretty good, 25%, is it likely it may happen again?
> 
> ...



Looks like it will finish at about the open, maybe $0.30. 

TB, I think anything could happen. I would hate to take a guess. Might depend on what the papers say or analysts make of it overnight. I'm sure the ones responsible for picking it at $0.80 will be working all night to brief their bosses tomorrow am! 

I have held on to the stock I bought today on open. I was hoping for a decent bounce today, but I was wrong. If my cunning plan falls apart tomorrow, then I'll sell it to fund my brain transplant.


----------



## Sean K (9 January 2007)

nizar said:
			
		

> LOL i remember you saying this might have found a bottom at 70-80c because of the insto placement.



Thanks for reminding me mate.   

I guess I had less info than the instos. I don't think BDGs geologist even knew anything about the company!

I'll start taking your advise and just buy things overbought.


----------



## SevenFX (9 January 2007)

kennas said:
			
		

> Thanks for reminding me mate.
> 
> I guess I had less info than the instos. I don't think BDGs geologist even knew anything about the company!
> 
> I'll start taking your advise and just buy things overbought.




Salt In Wounds, Not Good Combination...


----------



## Dr Doom (9 January 2007)

nizar said:
			
		

> ......
> 
> We are in a bullmarket, its not as if we are in shortage of winners, so try to buy stocks at all time highs, please, instead of catching the ones at all time lows, and then we can all make money and be happy




nizar, not sure that's a winning formula either, same risks at all time highs as lows eg picking tops & bottoms. No skill in being lemming, but they all eventually drop of a cliff   

The shows not over for BDG, it just might take a year to resolve. And it might not be a 500koz company, maybe a 50koz co. My guess is that there won't be any sp appreciation for some time as too many have been burnt, but some time and at some sp, BDG will be good value, it all depends on their future exploration prowess. Lets not forget there is gold there, and even economic to mine, it's just the quantity that is an unknown.


----------



## Prospector (9 January 2007)

I cashed in late last year (November) but kept a small bundle - never thought it would come to this    Needless to say I gave up this morning and sold them all.


----------



## rub92me (9 January 2007)

If the shareprice drops any further I suggest they use the cash they have to buy back all the shares and start with a blank slate...


----------



## spitrader1 (9 January 2007)

toc_bat said:
			
		

> kennas,
> 
> the bounce today was pretty good, 25%, is it likely it may happen again?
> 
> ...



theres only one thing bottom pickers get.....smelly fingers.


----------



## SevenFX (9 January 2007)

spitrader1 said:
			
		

> theres only one thing bottom pickers get.....smelly fingers.




Crass Spitrader1.... In Bad Taste...


----------



## toc_bat (9 January 2007)

spitrader1 said:
			
		

> theres only one thing bottom pickers get.....smelly fingers.




hahahahaaa, 

thats a good one


----------



## reece55 (9 January 2007)

LOL Spittrader.......

Hadn't heard that one before....

I agree with Dr Doom here - whilst today did not yield a decent bounce, don't write this one off yet..... however it will take a long time for this one to gain some momentum...... too many investors have been burnt here..... I would expect it to trade sideways for some time now...... It will be interesting to see if those insto's who took the placement at 80 cents stay the course.... I would be betting they will cut and run.........

Cheers


----------



## nizar (9 January 2007)

Dr Doom said:
			
		

> *nizar, not sure that's a winning formula either*, same risks at all time highs as lows eg picking tops & bottoms. No skill in being lemming, but they all eventually drop of a cliff




Yeh??
Im pretty sure. My systemis built around this entry and I've done ok thus far. But of course, you could be right, and I probably just fluked it   

Each to their own I guess.


----------



## nizar (9 January 2007)

spitrader1 said:
			
		

> theres only one thing bottom pickers get.....smelly fingers.




Exactly, when will people learn


----------



## chicken (9 January 2007)

nizar said:
			
		

> Exactly, when will people learn



My advice has always been...BUY A PRODUCER...not someone said its gonnabe....thats why I buy only...if I know 100% thats is going to happen...I wont say who...that is the difference between a good share and a gonnabe share...good luck to all...they have $95million in the bank...hope it will work for the shareholders.....


----------



## PhoenixXx (9 January 2007)

So basically this company downgraded its status into an explorer and it could take up to 2 years exploring?
I didn't realise this until I bought it.
Should've paid more attention to the news.
Omg...a lot of people buying from the early stage would've thought of shooting this company.


----------



## SevenFX (9 January 2007)

PhoenixXx said:
			
		

> Omg...a lot of people buying from the early stage would've thought of shooting this company.




Well maybe not shooting, as that's is *now illegal*, but perhaps suing first, then ........ maybe.


----------



## bvbfan (9 January 2007)

This will be back to $1
.
.
.
.
.
.
.
.
.
Next time they do a consolidation!

So these shares are now effectively 3c from when I first looked at them, down 90% (was 30c then) from the then highs.  Not a great performance in a gold bull market.

Maybe Harmony who've had experience in underground mining knew something even back then.

This is starting to look like the son of Rus the old Pasminco dog?
Anyone remember him?


Sorry for holders who have been burnt , I know I'd be very upset with the announcements after 1month of a SPP. 
ASIC should be looking at this


----------



## hector (9 January 2007)

Had a shot at daytrading this one. Went long at 34.5 and watched it go up.... then down! Instead of taking a loss hit sell for 3x amount and shorted at 33c, filled at 30c.

A lot of fun and finished in front this time.

Cheers all,

hector


----------



## nizar (9 January 2007)

PhoenixXx said:
			
		

> So basically this company downgraded its status into an explorer and it could take up to 2 years exploring?
> I didn't realise this until I bought it.
> Should've paid more attention to the news.
> Omg...a lot of people buying from the early stage would've thought of shooting this company.




Early stage?

It wasnt that long ago when the BDG graph looked like HEAVEN - higher highs, higher lows, strong uptrend. $1 to $2.50 in a few months.


----------



## cuttlefish (9 January 2007)

chicken said:
			
		

> My advice has always been...BUY A PRODUCER...not someone said its gonnabe....thats why I buy only...if I know 100% thats is going to happen...I wont say who...that is the difference between a good share and a gonnabe share...good luck to all...they have $95million in the bank...hope it will work for the shareholders.....




I didn't hold this but I don't know that thats fair comment to anyone that did - this looked like a producer about to start production.  They had a probable ore reserve - this is supposed to be a high level of confidence estimate under the JORC code and a very reliable figure. They had also started actual mining.  

Clearly someone has stuffed up badly by putting a cruddy JORC estimate together which makes all of their figures look shaky.  Comments like we'll convert from inferred resource to gold bars rather than to indicated or measured reek of very poor management - how can you plan capital expenditure when you don't know how much you've got and what the profit will be.  It sounds like they just assumed that if they start mining they'll uncover enough to be able to keep going for quite a while, rather than doing some proper measurement prior to commencement.

Using your logic above, AGM, a stock you favour, is also not a done deal - who's to know whether their Nickel estimates will hold up - who's to know they'll get their equipment commissioned and working in the timeframes they've predicted etc.


----------



## chicken (9 January 2007)

cuttlefish said:
			
		

> I didn't hold this but I don't know that thats fair comment to anyone that did - this looked like a producer about to start production.  They had a probable ore reserve - this is supposed to be a high level of confidence estimate under the JORC code and a very reliable figure. They had also started actual mining.
> 
> Clearly someone has stuffed up badly by putting a cruddy JORC estimate together which makes all of their figures look shaky.  Comments like we'll convert from inferred resource to gold bars rather than to indicated or measured reek of very poor management - how can you plan capital expenditure when you don't know how much you've got and what the profit will be.  It sounds like they just assumed that if they start mining they'll uncover enough to be able to keep going for quite a while, rather than doing some proper measurement prior to commencement.
> 
> Using your logic above, AGM, a stock you favour, is also not a done deal - who's to know whether their Nickel estimates will hold up - who's to know they'll get their equipment commissioned and working in the timeframes they've predicted etc.



Re your last statements...SORRY....AGM has A HUGE deposit in them hills in Tasmania..better believe it..it will all happen...all sold to CHINA for the next 15years.....Better do some research before posting my friend... You should know that I DO MY RESEARCH..funny that....but I do....LOLOLOLO


----------



## The Mint Man (9 January 2007)

cuttlefish said:
			
		

> I didn't hold this but I don't know that thats fair comment to anyone that did - this looked like a producer about to start production.  They had a probable ore reserve - this is supposed to be a high level of confidence estimate under the JORC code and a very reliable figure. They had also started actual mining.
> 
> Clearly someone has stuffed up badly by putting a cruddy JORC estimate together which makes all of their figures look shaky.  Comments like we'll convert from inferred resource to gold bars rather than to indicated or measured reek of very poor management - how can you plan capital expenditure when you don't know how much you've got and what the profit will be.  It sounds like they just assumed that if they start mining they'll uncover enough to be able to keep going for quite a while, rather than doing some proper measurement prior to commencement.
> 
> Using your logic above, AGM, a stock you favour, is also not a done deal - who's to know whether their Nickel estimates will hold up - who's to know they'll get their equipment commissioned and working in the timeframes they've predicted etc.



this is true!


----------



## chops_a_must (9 January 2007)

> Originally Posted by nizar
> ......
> 
> We are in a bullmarket, its not as if we are in shortage of winners, so try to buy stocks at all time highs, please, instead of catching the ones at all time lows, and then we can all make money and be happy






			
				Dr Doom said:
			
		

> nizar, not sure that's a winning formula either, same risks at all time highs as lows eg picking tops & bottoms. No skill in being lemming, but they all eventually drop of a cliff



William Eckhardt used this method. As long as you have a tight stop loss, you should theoretically be able to catch stocks on a breakout etc. while they run, rather than having to pick a top or bottom, or waiting for a correction that may never happen.


----------



## greenfs (9 January 2007)

Luckily, I wanted to buy but stayed out. My broker is suggesting it will go to the wall


----------



## Alex_in_Oz (9 January 2007)

I don't think it will go to the wall.


----------



## cuttlefish (9 January 2007)

not in the next 6 months anyway - plenty of cash from the recent placement at 80c to institutions ...


----------



## barney (9 January 2007)

cuttlefish said:
			
		

> not in the next 6 months anyway - plenty of cash from the recent placement at 80c to institutions ...




I wonder if the CEO and the GM will go into "protective custody" .... There must be some seriously disgruntled "big players" out there!

My sincere best wishes to any holders who are sitting on big losses here .......... I know how it feels to get hit by the big "slammer" (trading halt followed by a 50% ish SP drop ............... )   If it were me in this position (again) I would buy more, set a tightish stop loss, and hope to hell it rebounds sooner than later.  
In two years from now who knows where the SP on this might end up ............ patience will be the key I think ........... time will tell .......


----------



## Rob_ee (9 January 2007)

I have just started trading, bought my 1st share today .. stated in another thread

Have tried to learn from the experts around here who espouse various trading styles and have come up with my own trading method.

One requirement is to look at charts, I ignore basically everything, MA's stots macads etc etc .. the only thing I look at is the price direction (I will be forever gratefull to Tech/A) and volume.

Looking at the BDG chart for the last 4 months (the period of interest to me)
all it seems to have done is gone down, down, down ... I could not see a single entry point for my method.

I just don't understand why anybody would want to invest in this???

I guess when I learn more and experience my 1st loss I may understand why anyone would want to buy a declining stock.

I hope it recovers for those sitting on losses.

Rob


----------



## Alex_in_Oz (10 January 2007)

I must admit that last years share placement looks really, really convenient.
If this stock was traded on the NYSE NASDAQ or OTCBB this would never have happened. The board would have been nailed for sure IMHO. Have we learnt nothing from the Sons of Gwalia debacle? The story is the same - questionable reserves. Only significant difference is the SGW forward contracts but the same story essentially  
IMHO opinion there is something VERY smelly about this whole saga.
I bought in at $1.45 sold at .74 last Thursday (!) bought in again at .295.
Over the years I have trade this stock for some handy profits so I am not much in the red but I really do feel for people who bought recently.
With the RIGHT MANAGEMENT and the RIGHT GEOSCIENCE team this is a good story IMHO. :behead:


----------



## chicken (10 January 2007)

Alex_in_Oz said:
			
		

> I must admit that last years share placement looks really, really convenient.
> If this stock was traded on the NYSE NASDAQ or OTCBB this would never have happened. The board would have been nailed for sure IMHO. Have we learnt nothing from the Sons of Gwalia debacle? The story is the same - questionable reserves. Only significant difference is the SGW forward contracts but the same story essentially
> IMHO opinion there is something VERY smelly about this whole saga.
> I bought in at $1.45 sold at .74 last Thursday (!) bought in again at .295.
> ...



Mate you SHOULD do some research before POSTING....Sons of Gwalia...had a HEDGE problem..NOT A RESERVE problem my friend thats what killed the company...see SBM its All there in black and white....as far as BDG....they have VERY little gold indeed whereby...the Sons of Gwalia reserves are indeed proving to be so...do your research first as what you posted is incorect.....


----------



## SevenFX (10 January 2007)

barney said:
			
		

> If it were me in this position (again) I would buy more, set a tightish stop loss, and hope to hell it rebounds sooner than later.
> 
> In two years from now who knows where the SP on this might end up ............ patience will be the key I think ........... time will tell .......




Hi Barney,

This companies charts say it all, and ann confirm it.

I feel buying more of a bad thing wouldn't make it a good thing, esp if gamble goes into another trading halt (more negative things have been happening with this company) and then gaps down further, not triggering the stop loss.

Why not use that money into so many other shares today trending up, and positive anns..... and possibly blue skies.

I mean it wouldn't matter where you made the money to offset your losses in bdg, except in another stock where chart and anns were knownly bad.

EDIT: In 2 years from now the company could be run down further...????

On the other hand, there could be a small bounce today, esp because this could be seen as a double botton from feb 93, just b4 the share soared to all time highs. (pointed out by good friend)

Anyway Good Luck Guys.
SevenFX


----------



## Sean K (10 January 2007)

SevenFX said:
			
		

> Why not use that money into so many other shares today trending up, and positive anns..... and possibly blue skies.
> 
> EDIT: In 2 years from now the company could be run down further...????
> 
> On the other hand, there could be a small bounce today



Good points Tek, but I think it will be hard for old time holders to let go psychologically, as is seen in this thread already. On the other hand, your second point above could be valid too. The market normally under and overshoots. (not sure about this been like a double bottom though) All the best.


----------



## SevenFX (10 January 2007)

SevenFX said:
			
		

> If this was my wife, I would have filed for divorce some time back, nor matter what she said was going to happen in the future or what great qualities she had...
> 
> Only Kidding, I prob give here a second & third chance  : , but not for this share.
> 
> ...







			
				kennas said:
			
		

> but I think it will be hard for old time holders to let go psychologically, as is seen in this thread already. .




Let's hope they're don't slowly fall any further or worse still have more anns like the last.

On the upside this could be a attractive takeover at current sp, or positive anns must be getting closer by now.


----------



## SevenFX (10 January 2007)

The Mint Man said:
			
		

> fair enough, but
> 1. I see decent figures and a chance at a very good profit.
> 2. I feel your fear but I do it anyway (see your sig)  :
> 
> cheers




Are you still seeing decent figures Mint Man...???   

My quip/sig is not related to the sharemarket, though you may have mistaken it to be.... and did it anyway.


----------



## Alex_in_Oz (10 January 2007)

chicken said:
			
		

> Mate you SHOULD do some research before POSTING....Sons of Gwalia...had a HEDGE problem..NOT A RESERVE problem my friend thats what killed the company...see SBM its All there in black and white....as far as BDG....they have VERY little gold indeed whereby...the Sons of Gwalia reserves are indeed proving to be so...do your research first as what you posted is incorect.....




LISTEN CLOWN! I SAID THEY HAD A PROBLEM WITH THEIR FORWARD CONTRACTS! THEY DIDN'T HAVE ENOUGH GOLD IN THE GROUND AS WELL.
Or can't you read yourself?


----------



## Sean K (10 January 2007)

Alex_in_Oz said:
			
		

> LISTEN CLOWN! I SAID THEY HAD A PROBLEM WITH THEIR FORWARD CONTRACTS! THEY DIDN'T HAVE ENOUGH GOLD IN THE GROUND AS WELL.
> Or can't you read yourself?



Alex, I understand your angst but no personal insults please. You did mention questionale reserves in you post, but also the hedging.

So, to get it right, did SGW have questionable reserves? Or was it just a hedging problem.



			
				Alex_in_Oz said:
			
		

> Have we learnt nothing from the Sons of Gwalia debacle? The story is the same - questionable reserves. Only significant difference is the SGW forward contracts but the same story essentially
> IMHO opinion there is something VERY smelly about this whole saga.




Chicken,

You need to start addressing people in a polite and respectful manner or it's KFC for you!


----------



## Sean K (10 January 2007)

Any future posts with personal insults will be deleted.


----------



## greggy (10 January 2007)

kennas said:
			
		

> Any future posts with personal insults will be deleted.



Its amazing that people start insulting each other when a share price collapses.  Try to speculate with money that you can afford to lose.  Early on when I began trading I saw my first stock fall dramatically.  I think it was Buka Gold.  At the end of the day, you have to take personal responsibility for any decisions that you make.  Please don't take any offence at what I'm saying here.  Its just some friendly advice from someone with 27 yrs trading experience (I have seen both the highs and lows).
P.S. Lets all try to make Kennas unpaid job a little bit more rewarding.
DYOR


----------



## chicken (10 January 2007)

kennas said:
			
		

> Any future posts with personal insults will be deleted.



These are not insults but facts what I said.....posters should know their subject first and have a understanding....but most of them have not done any research..I have


----------



## PhoenixXx (10 January 2007)

SevenFX said:
			
		

> ...
> On the other hand, there could be a small bounce today
> ...




U r absolutely right, surprised me though


----------



## SevenFX (10 January 2007)

PhoenixXx said:
			
		

> U r absolutely right, surprised me though




What surprised you, what were your thoughts Phoenixxx...???


----------



## PhoenixXx (10 January 2007)

I thought this share will drop even further   
But i guess it's not happening at the time i'm writing this  :


----------



## Sean K (10 January 2007)

PhoenixXx said:
			
		

> I thought this share will drop even further
> But i guess it's not happening at the time i'm writing this  :



Beware the 'Dead Cat Bounce'. I actually thought there could be a bigger bounce than this, so I am even more cautious. 

(still holding - just to see if the cat lives. This will probably end up soaking capital gains)


----------



## doctorj (10 January 2007)

> I SAID THEY HAD A PROBLEM WITH THEIR FORWARD CONTRACTS! THEY DIDN'T HAVE ENOUGH GOLD IN THE GROUND AS WELL.



I understand losing money brings up emotions (and no more than old Soggy) but there is no need for insults and name calling.

I'm going to side with Chicken on the story behind this one.  The problem never was the amount of gold they had, it was the hedging that made it uneconomic to get out.  If memory serves, they believed to be deeper extentions to the reserves already mined but they didn't feel it commercial under their current arrangements to get out.

If Soggy hadn't hedged the volume of gold they did or closed out the hedge when they had the opportunity for a couple of hundred g they would most likely still be in operation today.


----------



## Prospector (10 January 2007)

Isnt the share price (~30 cents ) now effectively what the company has as its operating (machinery) assets?  So it could be expected to stabilise at this price?  Doesnt worry me I guess, I sold yesterday for a nice not so little.....loss!


----------



## Jrowl (10 January 2007)

The share price will not go below 30 cents. I read the financial review paper today and they said bdg was undervalued. They said according to their assets (cash & equipment & infrasture) they should be close to .40cents a share and that has none of ground gold reserves/inferred added in. I believe this share is going to be worth 50-60 cents soon and then springboard much higher when the new managment report exploration success of 2 million reserves and quickly begin production. They said if they have good exporation success, they will quickly ramp those reserves into production. I'm going to wait afew days to see what happens, but I might double up while it's at a depressed price below market value for even their basic assets and hopefully regain my loses.


----------



## Feng (10 January 2007)

Jrowl said:
			
		

> The share price will not go below 30 cents. I read the financial review paper today and they said bdg was undervalued. They said according to their assets (cash & equipment & infrasture) they should be close to .40cents a share and that has none of ground gold reserves/inferred added in. I believe this share is going to be worth 50-60 cents soon and then springboard much higher when the new managment report exploration success of 2 million reserves and quickly begin production. They said if they have good exporation success, they will quickly ramp those reserves into production. I'm going to wait afew days to see what happens, but I might double up while it's at a depressed price below market value for even their basic assets and hopefully regain my loses.




Thanks for your info.
Cross fingers! 
Hope it goes up again!


----------



## greggy (10 January 2007)

Jrowl said:
			
		

> The share price will not go below 30 cents. I read the financial review paper today and they said bdg was undervalued. They said according to their assets (cash & equipment & infrasture) they should be close to .40cents a share and that has none of ground gold reserves/inferred added in. I believe this share is going to be worth 50-60 cents soon and then springboard much higher when the new managment report exploration success of 2 million reserves and quickly begin production. They said if they have good exporation success, they will quickly ramp those reserves into production. I'm going to wait afew days to see what happens, but I might double up while it's at a depressed price below market value for even their basic assets and hopefully regain my loses.



The share price will not go below 30 cents. Now thats a statement, obviously by a Newbie.  An increasing number  of newbies have been burnt of late which is unfortunate.  I too have read newspaper articles tipping BDG as a buy when it was much higher.  Do your own research is the most important lesson to learn in this game.
P.S. I hope BDG recovers from here.  Not holding, but watching with interest.
DYOR


----------



## Dr Doom (10 January 2007)

I agree jrowl. This is the undershoot from the bad news, everything on the table, in the absence of more bad news or declining pog, BDG should at worst stabilize at these levels & at best start to slowly appreciate as it is viewed as 
undervalued takeover or they start mining again sooner than anticipated. I would assume that they have erred on the negative side this time (regarding shutting down production) so any announcements could be more positive :bounce: . 

Let's not forget, there is a plant rated at 500koz waiting & ready to go if they shore up resources, so ramp up to production would be a matter of weeks, if not days.


----------



## SevenFX (10 January 2007)

Jrowl said:
			
		

> The share price will not go below 30 cents. I read the financial review paper today and they said bdg was undervalued.
> 
> They said according to their assets (cash & equipment & infrasture) they should be close to .40cents a share and that has none of ground gold reserves/inferred added in.
> 
> I believe this share is going to be worth 50-60 cents soon and then springboard much higher when the new managment report exploration success of 2 million reserves and quickly begin production. .




Wow strong prediction...hope your right if your holding.

Asset value doesn't necessarly equal SP... Sentiment, Management & Anns plays a big part for many....IMO

Also consider the Journo (one of many) that wrote this and his financial Wealth b4 putting the house on it.

Today hasn't been a great sp bounce, and theirs been a lot of buying and selling at around a very tight channel.... hence perhaps uncertainty in sp direction...???

Just IMO though

SevenFX


----------



## SevenFX (10 January 2007)

BDG NEWS... Good or Bad...???

http://www.asx.com.au/asxpdf/20070110/pdf/310ghsmx1bqgzn.pdf


----------



## Dr Doom (10 January 2007)

Looks like the new boss has taken a token holding to support the troops. BDG up a massive 8.3% today  . New management having a big effect already.


----------



## spitrader1 (10 January 2007)

Jrowl said:
			
		

> The share price will not go below 30 cents. I read the financial review paper today and they said bdg was undervalued. They said according to their assets (cash & equipment & infrasture) they should be close to .40cents a share and that has none of ground gold reserves/inferred added in. I believe this share is going to be worth 50-60 cents soon and then springboard much higher when the new managment report exploration success of 2 million reserves and quickly begin production. They said if they have good exporation success, they will quickly ramp those reserves into production. I'm going to wait afew days to see what happens, but I might double up while it's at a depressed price below market value for even their basic assets and hopefully regain my loses.



that is one of the best all time qoutes "i read the financial review today and they said BDG was undervlaued"-that is quite literally, GOLD. Jrowl i think you need to think about things
1."double up"-the market is not a casino
2."hopefully regain my losses"-hope is not a strategy
3."depressed price"-who says its depressed, just because its gone south? the old chestnut of "because its come back, surely it cant go any lower??

the tears, OMG the tears...


----------



## stevo (10 January 2007)

"The share price will not go below 30 cents. "

Put the house on it! As they say in Casino Royale "All in".  

(Nothing in this post should be taken as anything but bad advice)


----------



## kransky (10 January 2007)

there is no denying the fact that if the current assets less liabilities divided by the total number of shares fully diluted may infact be above the current SP..

BUT

if the management are a bunch of half witts without much of a clue and by many accounts it seems this is the case here then the fact the SP is lower than the basic cash + on ground asset valuation suggests the SP may be taking into account the extra risks involved in holding this companies shares. not to mention opportunity cost.. money in BGD that isnt doing anything cos management suck is money that isnt in another stock making money or even sitting safely in the bank making 6%..


----------



## SevenFX (10 January 2007)

stevo said:
			
		

> "The share price will not go below 30 cents. "
> 
> Put the house on it! As they say in Casino Royale "All in".
> 
> (Nothing in this post should be taken as anything but bad advice)




What type of house is it...oh heck whats the address anyway, I bring my crane round in the morning... 

EDIT: Hope you liked the movie, as I did as with all bond movies.


----------



## Jrowl (10 January 2007)

There is alot of pressure on Rod Hanson to perform and I think that pressure will be a positive infulence on him and for the company. They shed their work force from 260 to 100 and with all the trouble they had with workers in the past, this has allowed them to seperate the wheat from the chaff. 

BDG was a large inefficent company with lots of cost overruns, they are now alot leaner and meaner imho.


----------



## bvbfan (10 January 2007)

doctorj said:
			
		

> I'm going to side with Chicken on the story behind this one.  The problem never was the amount of gold they had, it was the hedging that made it uneconomic to get out.  If memory serves, they believed to be deeper extentions to the reserves already mined but they didn't feel it commercial under their current arrangements to get out.
> 
> If Soggy hadn't hedged the volume of gold they did or closed out the hedge when they had the opportunity for a couple of hundred g they would most likely still be in operation today.




Sorry to butt in here but SGW had problems with both, they had hedged over 100% of reserves and when they couldn't produce to deliver into the hedges they hit the wall. They even tried to buy the reserves through PacMin acquistion which is probably one of the worst corporate moves in the country.

As to this arguement about hedges and reserves, its a bit like the chicken and the egg, (sorry for the pun).

At least there are no hedge counterparties to force these guys into bankruptcy. But will  shareholders keep supporting these capital  raisings in the future. Getting close to last chances with many holders I would think


----------



## barney (10 January 2007)

SevenFX said:
			
		

> Hi Barney,
> 
> This companies charts say it all, and ann confirm it.
> 
> ...




Howdy Tek,  You are probably right re above ......... and I agree the "tight" stop loss could get "bypassed" (I've been caught badly by that one b4) , but, I guess I'm just looking to the future with some optimism (which may be misguided as well) .... It may go to the wall, but I just think it wouldn't have dragged on this long if they didn't have a reasonable potential for "some" success ..... If this is not the case, then the instos who paid 80 cents/share will no doubt be filing a law suit in the near future.  Bad management true, but it would be a total misrepresentation by the management if there is not something of substance in the ground, and I am doubtful this is the case ........... My opinion is still that time will see BDG in a better position, but it is still a short term punt; but most shares are ......... 

Any way I got lucky for a change, cause I was nearly ready to buy in again but the trading halt actually saved me .......... pleasant change ... All the best, Barney.


----------



## Jrowl (10 January 2007)

For some reason the part of the resource which they began producing they chose to begin mining the historicly poor section of mineralisation, which in hindsight was a bad decision. That part of the reef produced a low grade ore grade in the past, and it did so again today. What they are now doing is drilling the historicly high productive areas which to reason will produce high grade ore. There is gold there, in 3 months they produced 10,000 ounces of gold, it was just a low grade section and not profitable, but remember that could all change depending on where the spot price of gold goes, if it goes up, then that mine will become profitable and a grade of 4g per ton will become economical and should be reasonably basic to start that section up again. If gold doesn't go up I'm quite sure the company will find new reserves and can being mining again very quickly if they have early drilling success so I really think this stock represents good value, 30 cents is the floor as that is what all of their assets are worth, and on the upside is blue sky potential. What people percive now in BDG as high risk is in fact low risk to the downside and high hopes of blue sky potential, the market right now is not seeing that.


----------



## Compol (11 January 2007)

My broker is telling me to sell BDG (take the big loss and move on).  I just can't get it out of my head that a director of OXR is also a director of BDG!  What the hell has he been doing?? I say it again, his other job is to direct OXR, one of the most credible and dynamic miners in the business!! The 80c thing was criminal.  BDG have a whole lot of my 80c in their Bendigo Bank account (earning interest as I write this) and I believe they obtained it by deception.  Anyway, why wouldn't any 'gold predator' take BDG tomorrow and get a cool $66 million in cash for starters + P & E and other 'assets'. Oh and what was Bryan Davis (Newcrest director) doing during his stint as BDG's Chairman??  There's something funny going on here? Anyone that believes BDG had/has idiots running it should think again; however, it begs the question, what's going on?


----------



## SevenFX (11 January 2007)

Is this the begining of the run back up...or is it bit of a intraday suckers rally...???

EDIT: Looks good hey, so who's bought In...????


----------



## constable (11 January 2007)

SevenFX said:
			
		

> Is this the begining of the run back up...or is it bit of a intraday suckers rally...???
> 
> EDIT: Looks good hey, so who's bought In...????



in @ 36 out @ 36 got on this a bit late too (busy ready bloody tea thread) lot of resistance at this level but good volume coming in.


----------



## SevenFX (11 January 2007)

constable said:
			
		

> in @ 36 out @ 36 got on this a bit late too (busy ready bloody tea thread) lot of resistance at this level but good volume coming in.




Are you kidding someone posted a tea thread here...???? 

Strong support/resistance at .36c-.365c and now it's broken as I type looking good for higher run.IMO

Strong retrace from 50% (.35c) pushin it perhaps it intraday higher...

Volume & b/s ratios look good...but morning hype could see all that change....

*EDIT: 200% on fib ratios would be 39.5c, hence possible change in intraday trend.... Just IMO*

SevenFX


----------



## constable (11 January 2007)

ok imagine me kicking my head now , something about patience you said. (Nice one constable ). 
Anyrate i had a good move on inl and i didn't want bdg to wreck my party. 
But gee wiz 1.5 cents rise slipped thru my fingers.


----------



## Jrowl (11 January 2007)

.39, nice. up 20% today.


----------



## Dr Doom (11 January 2007)

Re the placement at 80c. Put it this way, if it hadn't happened we would be talking about BDG in a long trading halt while they restructure their finances, if at all. If you still hold from 80c then you just have to be patient, the show's not over yet. Probably more attractive now at 38c with new focus on the mines direction than ever before. I'm sitting on a sizable loss & resigned to waiting possibly 12-18 months before it proves itself. Again in the absence of more *very* bad news, the sp should go higher


----------



## fma007 (11 January 2007)

Wow.. 33% up today.. whats going on? I bought at 78c so i'm not exactly happy .. but.. at least its heading in the right direction for once


----------



## Snakey (11 January 2007)

fma007 said:
			
		

> Wow.. 33% up today.. whats going on? I bought at 78c so i'm not exactly happy .. but.. at least its heading in the right direction for once




not for long...ideal time to cut losses imo currently .41


----------



## constable (11 January 2007)

Snakey said:
			
		

> partys over come on nothing to see hear please disperse



thank god for that , this was killing me !


----------



## SevenFX (11 January 2007)

I gonna have to eat my posts now.....*400%+ on fib ratios*

12c in under a hour ...very nice....


----------



## Dr Doom (11 January 2007)

Typical, daytraders playing games. Ramping up then dumping. Should close about 38c?


----------



## Snakey (11 January 2007)

Dr Doom said:
			
		

> Typical, daytraders playing games. Ramping up then dumping. Should close about 38c?



??????? please explain

yes day traders made lots of money...too bad for your doom and gloom atitude...other wise you could of made money too.


----------



## PhoenixXx (11 January 2007)

shoot...i sold all at high yesterday, never expect today would go skyrocket


----------



## Wilson! (11 January 2007)

Looking strong today!
Go baby


----------



## Dr Doom (11 January 2007)

Snakey said:
			
		

> ??????? please explain
> 
> yes day traders made lots of money...too bad for your doom and gloom atitude...other wise you could of made money too.




?????? please explain?. I'm the biggest BDG ramper here. Not sure what you are talking about re doom & gloom. Just commenting on the inevitable bounce back today, obviously day traders helping on the way, but when they have had their fun the price should stabilise lower. (I'll say that because it usually does the opposite of what I say). And I did make money today.


----------



## SevenFX (11 January 2007)

Dr Doom said:
			
		

> Typical, daytraders playing games. Ramping up then dumping. Should close about 38c?




Hi Dr D.

Not sure if agree with daytraders theory, as many other reason that may fit bill.

Also where did you get .38c close, as cant see why a close there...???

Thanks
SevenFX


----------



## Dr Doom (11 January 2007)

Because with these typical rebounds from the panic selloff,  all that is needed is a quick start from the open then momentum takes over. If you look at the intraday volume it usually tapers off through the day after the peak indicating the majority of the price moving trades have been completed, leaving the stragglers to try to move the price further. Because (I assume) the majority of the volume are day trades, I would expect that from now to the close the sp should drift lower, somewhere near the VWAP, volume weighted average price. Personally I hope I'm wrong & it keeps going up (today) but as of now volume has dropped right off & I think the sp will drift lower to the close (say 39c).


----------



## Jrowl (11 January 2007)

PhoenixXx, sorry to hear that. 

Basiclly what is happening with BDG is the SP is catching up with the companies base assets, after it has done that, in the .40 to .45 cent range, people will begin to value the gold resources it has, currently the market values their gold resources at $0. I know for a fact that 11million oz inferred is worth alot more than $0.


----------



## Dr Doom (11 January 2007)

Jrowl said:
			
		

> PhoenixXx, sorry to hear that.
> 
> Basiclly what is happening with BDG is the SP is catching up with the companies base assets, after it has done that, in the .40 to .45 cent range, people will begin to value the gold resources it has, currently the market values their gold resources at $0. I know for a fact that 11million oz inferred is worth alot more than $0.




For the longer term holder ie longer than today, jrowl is correct. The old adage, up by the stairs down by the elevator applies here as it needs some positive ann to keep momentum going from here.


----------



## Snakey (11 January 2007)

Dr Doom said:
			
		

> Because with these typical rebounds from the panic selloff,  all that is needed is a quick start from the open then momentum takes over. If you look at the intraday volume it usually tapers off through the day after the peak indicating the majority of the price moving trades have been completed, leaving the stragglers to try to move the price further. Because (I assume) the majority of the volume are day trades, I would expect that from now to the close the sp should drift lower, somewhere near the VWAP, volume weighted average price. Personally I hope I'm wrong & it keeps going up (today) but as of now volume has dropped right off & I think the sp will drift lower to the close (say 39c).




fair analysis dr d
you should write a book "Share trading for dummies"


----------



## Dr Doom (11 January 2007)

It would probably make me more money than sharetrading


----------



## SevenFX (11 January 2007)

Strong channel between 41c-42c for nearly 2 hours now, and outside this being critical range, which may require attention if intraday trading

Traded volume of 5.3m at 42c vs 3.1m at 41c.

SevenFX


----------



## Dr Doom (11 January 2007)

Yes, persistent buying @42


----------



## SevenFX (11 January 2007)

Dr Doom said:
			
		

> Yes, persistent buying @42




So DD.

What does the ave price of 39.7c for all trades today on your screen tell you...???

Is that what you based your closed on...?????

Tks
SevenFX


----------



## Sean K (11 January 2007)

kennas said:
			
		

> If it finishes above $0.40 then I will have recovered my losses from initial purchase at $0.80.



Well, I've got my money back after taking a punt on the overshoot. Now considering where it might end up.....just what is the value of this company now.....decisions, decisions. Even if they eventually have just 3m oz au in the ground, they have eveything in place just to start mining....wonder what cash costs will be now?? Perhaps this is a waiting game now just to see what they end up with.

Hard to believe LHG paid $350m for BGF, when they could have waiting and picked this up for possibly under $200m....Unless, of course, it's only worth this much...


----------



## britishcarfreak (11 January 2007)

Hi all,

Back from holiday   

I topped up the day before the trading halt.  That was a good way to throw away $5k. POO!

Anyway, I'm still holding and will watch this for a few weeks.  *Since trading recommenced have you guys noticed that the volume is increasing? *  Today will easily surpass yesterday.  Is anyone reading anything into this?  Is it a lot of people day trading or is it a strong support from buyers thinking that it's a bargain right now?

I was going to buy another $10k on the day it opened at 29c but was feeling sick about the drop and didn't use basic principles.  Kicking myself now.


----------



## Sean K (11 January 2007)

kennas said:
			
		

> Well, I've got my money back after taking a punt on the overshoot. Now considering where it might end up.....just what is the value of this company now.....decisions, decisions. Even if they eventually have just 3m oz au in the ground, they have eveything in place just to start mining....wonder what cash costs will be now?? Perhaps this is a waiting game now just to see what they end up with.
> 
> Hard to believe LHG paid $350m for BGF, when they could have waiting and picked this up for possibly under $200m....Unless, of course, it's only worth this much...



I'm out.

Too much uncertainty for me at the moment. Will reevaluate once the dust settles. My money at this stage is that this will now be part of more consolidation in the Victorian gold sector. Perhaps LHG will wrap this up as well, then PSV and practically own the states resources!


----------



## Dr Doom (11 January 2007)

SevenFX said:
			
		

> So DD.
> 
> What does the ave price of 39.7c for all trades today on your screen tell you...???
> 
> ...




Hi Tek,
I'd like to say it was based on a convoluted mathematical formula but mostly on the intraminute chart at 11:30, volume, and previous experience. As it turned out the volume picked up again to close (strongly?) at 44c. Though there is only low volume bids down to 42.5c, so may open weaker tomorrow (gold is off a bit today, but gold stocks up?????????)

DD


----------



## SevenFX (11 January 2007)

kennas said:
			
		

> I'm out.
> 
> Too much uncertainty for me at the moment.
> 
> ...




Just when I thought they're were looking good 2... 

If we didn't have different opinions, the market wouldn't work right...????

Lets hope LHG didn't/doesn't know something we didn't/don't know...

Don't know about to much uncertainty, as their has been 2 much uncertainty all the way down   , and much more certainty perhaps near the bottom now, but maybe not for the quick buck though.

Just playing Devils Advocate... : 

Standard Vinalla Disclaimer: IMO.
Cheers
SevenFX


----------



## toc_bat (11 January 2007)

YOUNG_TRADER said:
			
		

> lol, my GSL was 83c on my CFD trade,
> 
> 
> I rang up at 9.58am and asked them to move it to 79c
> ...





GSL - is that guaranteed stop loss?

Just wondering what price you entered at YT? 

Also is there any other stop loss on CFDs or just the GSL?


----------



## Compol (11 January 2007)

Dr Doom said:
			
		

> Re the placement at 80c. Put it this way, if it hadn't happened we would be talking about BDG in a long trading halt while they restructure their finances, if at all. If you still hold from 80c then you just have to be patient, the show's not over yet. Probably more attractive now at 38c with new focus on the mines direction than ever before



Doom, I tend to agree on the 80c RRI despite my current displeasure.  I can feel a conspiracy theory coming on.  If a 'connected' party pulls off a takeover of BDG in the near future (I have a front-runner) I'll travell to Iraq for my next holidays.  I think BDG is about to become an 'how they did it' example for text books.


----------



## Jrowl (12 January 2007)

Everyone has been saying BDG is a bad stock, the negative sediment was overwelming, that is an indicator of a bottom. There was evidence today that there was a large demand for BDG stock and I believe that demand will grow. Alot of people said it would take along time for this stock to recover, I would not be suprised that this stock will be back at the .7 to .8 cent range in the next few weeks. The company has taken on a new direction and I view that as positive. Those who brought in at the .80 cent level will make their money back soon. The amount of press this stock has generated is amazing. The day after it crashed my mother said "you weren't in that bendigo stock where you?" and she doesn't follow anything financial. Nearly everyone knows about it. At .80 cents I thought BDG was a good stock based on fundamentals at the time, at .80 cents even for a explorer was good, now it is an explorer again (one that almost definatly will quickly find another part of their property to begin mining) it is priced very good. BDG is not a bad stock, infact just the opposite, it is an extreamly good stock. Buy while others are bearish for they will turn bullish in time. I think the performance of BDG yesterday has already converted many people and they will be buying the stock again tomorrow. I think resistance will be at around .60-.70 take some profits there.

Doctor Doom Wrote


> For the longer term holder ie longer than today, jrowl is correct. The old adage, up by the stairs down by the elevator applies here as it needs some positive ann to keep momentum going from here.



I disagree, I think people will keep buying, the stock has quickly turned positive again and the general concensous was that this stock would take along time to recover as what FIN said, I believe the opposite, those waiting on the sidelines will miss their chance. I am more bullish on this stock than I have ever been. Another good day tomorrow (maybe even another 30%)


----------



## Jrowl (12 January 2007)

This thread was started on 15th-March-2005, 04:11 PM, I remember 2 weeks ago this thread had 11,000 views, now it is at 18,000, quite alot in just a week or two, a growing sign of interest. Most likely alot of outsiders are googling this stock and finding this thread. This stock right now is a baby elephant, there is so much interest from people and it represents bargin basement value, this stock is a once in a lifetime opitunity to invest in. The more I think about BDG (even though I'm sitting on losses) the more bullish I become.


----------



## Jrowl (12 January 2007)

For those worried about the gold bull market, this page should ease some concerns. The amount of money it seems the RBA injected into the Australian economey this year (edit last year) has blown my mind. It only shows data 2 months behind, if someone else knows where there is more current data please let me know. The amount of money printing is amazing and BDG's 11 million ounces of gold in the ground (with more upside potential) being valued at $0, it astounds me. 
Australian M3 money supply


----------



## Freeballinginawetsuit (12 January 2007)

Its been interesting reading the Posts on BDG since Tuesday's open hammering. My views as a trader who's researched & traded them on/off for the last couple of years (hope this helps a few punters are):

1) Tuesday's blowoff and pre-open match at 29c, with all the facts on the table, unique!. Can't say I have ever seen an entry position akin.

2) BDG'S last announcement provided clarity, direction and no gloss. Hard to stomach..... yes, but a long awaited clear direction from management who seem to have moved past the "learning curve" lol.
Positives: Management gone, Senior Geologist gone (geez, were did he come from  ), Identification/Awareness by Management of accurate Geology on Vein/Bonanza Targets, No more 'pie in the sky' wizzer ideas to mine puss ore (for bonus cash) on the way to targets, downsize workforce (still too many left), Management recognition of importance and need to define/mine and produce profitably within current 'cash on hand'.
Negatives/Unknowns: Issues with wear rates on new production plant (also whats the length of warranties as these will be idle for a while) and idle machines/whats the maintence bottom line. No proviso of income/expenditure numbers on the 3 months production (what was the deficit/loss). Financial impact of the 160 redundancies and CEO on 'cash on hand'.

3) BDG have a defined amount of cash reserves left, they need to produce from a viable and profitable area within these limits. Managements recognised this and the absolute requirement that the next region mined must be of a definitive/pofitable production grade. At least we know they can mine, they had been at it for 3 months   , next time the dirt needs to actually have some gold in it!. 

4) Another failed production run of unprofitable grade and the market will be convinced BDG have built a fully equiped/staffed goldmine on dirt as profitable as the average backyard. No cash left, No reserves, 100 staff left to be payed out..... yada yada = the final heavy tank!. Surely they will hit some gold and IMHO the odds are in their favour.


Unclear as to why ASF posters would compare BDG to SOG. No comparrison between the two, Croseus would be a more accurate recent comparrison to SOG with similar dynamics shared for their failures.

Unclear as ASF posters opinion on BDG's SP chart and the fact it indicates its untradeable. The chart clearly indictes BDG has been tradeable up till its last failed break 4 odd months ago (all Goldies got caught in that correction), it could have resumed an uptrend from their. 
BDG's gap down to $1 would have rendered any stop useless, you would have had to have traded out during previous trading days and probably due to sheer frustration at the previous few weeks of sideways action or the need to put some cash in Zincors at the time  . Any exit would have been a lucky one really!.
More recently BDG'S chart indicates fundamentals alone and an up/down move could have been either way. Volumes were flat and the market was losing interest in them really!.

Unclear as to ASF posters negative opinions on entering BDG at 29 cents on Tuesdays pre open match up. Name an occasion were you have seen a mining company with two thirds of their market cap in cash, a fully ramped production plant, site machinery, trained staff and a potential reserve with a new MD with a clear company directive for the next year.

BDG is now at a reasonable cap, two days later, lol. No real upside to come short term (for holders), next big announcement will be a company maker and either direction will be vicious. Postive one and I'll be in again.... lots of upside to come if they hit a decent mineable resource IMO. One to keep on the watchlist I reckon and watch the volumes/price action.

Note: No longer hold, all turned out good, but had to cut a loss on some BHP
to get their


----------



## Jrowl (12 January 2007)

Indicative Price: 0.46

It will close higher than yesterday.


----------



## Dr Doom (12 January 2007)

St Barbara Acquires 10% Stake in Bendigo Mining
The Company has acquired 49.53M shares in
Bendigo Mining Limited on market at a weighted
average price of 34.8 cents per share. This has
achieved the Company’s objective of acquiring a 10%
interest.

jrowl, there's that positive news I was talking about


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## Sean K (12 January 2007)

SBM taken 10% stake. I didn't think this would happen so fast.   

I'm changing my name to 'Out To Soon'....oh, that's taken.


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## SevenFX (12 January 2007)

kennas said:
			
		

> SBM taken 10% stake. I didn't think this would happen so fast.
> 
> I'm changing my name to 'Out To Soon'....oh, that's taken.




Hey you played it safe and as you seen it *at the time.*

Better to *be safe than sorry...*

SevenFX


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## The Mint Man (12 January 2007)

chicken said:
			
		

> My advice has always been...BUY A PRODUCER...not someone said its gonnabe....thats why I buy only...if I know 100% thats is going to happen...I wont say who...that is the difference between a good share and a gonnabe share...good luck to all...they have $95million in the bank...hope it will work for the shareholders.....



So do I because now your a part of it  



> SBM ann: Acquires 10% stake in BDG




Cheers :jump:  :bananasmi  :bier:


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## Jrowl (12 January 2007)

Alot of fears have been put to rest in BDG with the large demand for BDG shares. I think the institutions here and abroad are pretty cool with BDG, like those who bought the placement, fears that they bought a dud stock will have disipated. If you follow the heard, you will get hurt like when the heard was selling BDG at .29 cents.

BDG the turn around success story, I expect this stock to be worth more in the following week and I expect it to close similar to how it did yesterday with a close close to it's intraday high.


----------



## Dr Doom (12 January 2007)

I expect SBM's share position is in expectation of a much larger tilt by a bigger player. Funny how rumours turn into fact.
SBM's profit for 3 days = $7.5m, 

And the shows not over till the fat man farts as I say


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## fma007 (12 January 2007)

I must say, i'm really glad i didn't panic sell this one!


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## The Mint Man (12 January 2007)

fma007 said:
			
		

> I must say, i'm really glad i didn't panic sell this one!



ditto


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## Freeballinginawetsuit (12 January 2007)

kennas said:
			
		

> SBM taken 10% stake. I didn't think this would happen so fast.
> 
> I'm changing my name to 'Out To Soon'....oh, that's taken.





Smells fishy, considering SBM moved head office to Melbourne recently all to convenient. All going well and BDG hitting some nuggets SBM'S position in BDG could net more profit than their current gold productions,lol.  
A bit like the placement a month after theve been producing crap grades, the insto's got blindsided their, you can't tell me BDG didn't know what was up.


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## SevenFX (12 January 2007)

Tight Range between 50c(3.7m)-51c(2.9m)

Most trades placed at 50c(3.7m), so looking shakky here. IMO


----------



## chicken (12 January 2007)

Dr Doom said:
			
		

> I expect SBM's share position is in expectation of a much larger tilt by a bigger player. Funny how rumours turn into fact.
> SBM's profit for 3 days = $7.5m,
> 
> And the shows not over till the fat man farts as I say



Maybe takeover 1 SBM share for 1+1/2 BDG share....looks like SBM sees value here...ED is a smart cooky....he is a top Geologist....after all he brought a few mines into production..will be good for both sides....and you never know..ED might have a idea where he will find gold...he is one of a kind...smells it out he does....won a few awards for doing so...


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## The Mint Man (12 January 2007)

chicken said:
			
		

> Maybe takeover 1 SBM share for 1+1/2 BDG share....looks like SBM sees value here...ED is a smart cooky....he is a top Geologist....after all he brought a few mines into production..will be good for both sides....and you never know..ED might have a idea where he will find gold...he is one of a kind...smells it out he does....won a few awards for doing so...



Does this mean youve changed your mind about BDG?

cheers


----------



## chicken (12 January 2007)

The Mint Man said:
			
		

> Does this mean youve changed your mind about BDG?
> 
> cheers



no,but SBM must have researched BDG to buy in....what a bargain for those shares...as ED will surely get his team to find the lode....and either sell the shares as soon as they are right or take them over completly....our main shareholder in SBM is NOT short of the $$$$.....so here we go....


----------



## Flying Fish (12 January 2007)

chicken said:
			
		

> no,but SBM must have researched BDG to buy in....what a bargain for those shares...as ED will surely get his team to find the lode....and either sell the shares as soon as they are right or take them over completly....our main shareholder in SBM is NOT short of the $$$$.....so here we go....



Funny only today over at HC you were saying that SBM would never consider BDG. Perhaps you can clarify why in the space of 6 hours you have done an about face? :


----------



## SevenFX (12 January 2007)

The Mint Man said:
			
		

> Does this mean youve changed your mind about BDG?
> 
> cheers




I think many people have changed their minds on BDG, as the stock does it's magic.   

BDG appeal has obviously come back much quicker than it was lost, but imo  sp battles ahead between buyer n sellers without any pos Ann.s as seen yesterday and today.


----------



## Deadcat (12 January 2007)

hahaha.    Please respond chicken.  Had a look at h/c thread on SBM and what a load of rubbish.


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## justjohn (12 January 2007)

Flying Fish said:
			
		

> Funny only today over at HC you were saying that SBM would never consider BDG. Perhaps you can clarify why in the space of 6 hours you have done an about face? :



he has a bad case of '' bird flu''


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## The Mint Man (12 January 2007)

SevenFX said:
			
		

> I think many people have changed their minds on BDG, as the stock does it's magic.   .




Magic  : hehe, yeh 60% down type of magic. I dont have alot of $$ riding on BDG but the fall did bug me.  but hey... these things happen... It was a good lesson.


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## Kauri (12 January 2007)

If you seriously wanted to take BDG over immediately why advertise and pump the price when you only have 10%, why not take your stake to the mandatory 20%?
  I see it as a blocking stake to discourage anyone else thinking of a T/O. It gives the   *legendary SBM   *time to assess and value BDG before deciding if it fits in with their longer term expansion/aquisition plans. Just my off the cuff thoughts.


----------



## SevenFX (12 January 2007)

The Mint Man said:
			
		

> Magic  : hehe, yeh 60% down type of magic..




This is the problem with Magicians they never tell you what trick they're gonna perform, and when they're gonna perform it.

In this case the trick was to make money dissapear, loyal shareholders sick and directors prob filthy rich.



			
				The Mint Man said:
			
		

> but the fall did bug me.




If it bugged you, can only imagine bigger shareholders jumping out of windows..



			
				The Mint Man said:
			
		

> but hey... these things happen... It was a good lesson.




Not too often I hope... though it was seriously trending down for some time....and won't be surprised if it ends up there again... unless spectacular anns comes up, one after another.


----------



## Snakey (12 January 2007)

What are you doing in here SevenFX...
leave that bdg horse alone :horse:


----------



## The Mint Man (12 January 2007)

SevenFX said:
			
		

> Not too often I hope... though it was seriously trending down for some time....and won't be surprised if it ends up there again... unless spectacular anns comes up, one after another.




Would you be surprised if it went back to where it started? ($0.70 -.80)
Im holding ATM!


----------



## SevenFX (12 January 2007)

Snakey said:
			
		

> What are you doing in here SevenFX...
> leave that bdg horse alone :horse:




That Ain't no horse your spanking, that's a donkey....


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## SevenFX (12 January 2007)

The Mint Man said:
			
		

> Would you be surprised if it went back to where it started? ($0.70 -.80)
> Im holding ATM!




Is this a Rhetorical Question...??? I'll answer it Anyway. YES in the short term.

Don't know your position, so not sure whether thats a good thing or not... your the best judge of that...

Anything can happen in the long term.


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## Joe Blow (12 January 2007)

I am watching this thread very carefully. Enough with the ramping. I have removed any posts that have quoted the ramps in question.


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## Jrowl (12 January 2007)

Looks like some people don't like how this stock has been going up.


----------



## Joe Blow (12 January 2007)

Jrowl said:
			
		

> Looks like some people don't like how this stock has been going up.




More substance, less ramping please.


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## Jrowl (12 January 2007)

> If you seriously wanted to take BDG over immediately why advertise and pump the price when you only have 10%, why not take your stake to the mandatory 20%?
> I see it as a blocking stake to discourage anyone else thinking of a T/O. It gives the legendary SBM time to assess and value BDG before deciding if it fits in with their longer term expansion/aquisition plans. Just my off the cuff thoughts




Ummm I think the shareholders in the company need to know they have acquired a 10% stake in BDG. It is the law to report these things.


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## Kauri (12 January 2007)

Jrowl said:
			
		

> Looks like some people don't like how this stock has been going up.




...and maybe some people don't like how this stock went down.


----------



## spitrader1 (12 January 2007)

Jrowl said:
			
		

> Looks like some people don't like how this stock has been going up.



not at all. i dont even hold a position. I have however been watching you like a hawk and IMO 75% of youre posts are baseless. I am more than happy to listen to you if you provide some sort of reasoning with your posts.


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## Jrowl (12 January 2007)

> ...and maybe some people don't like how this stock went down.




Yes I did not like how this stock went down, I held shares at $1 and then bought more SPP at .80 but I really like how this stock has been performing after the bigbang. I lost faith the first day it went down but I hanged on tight to the ranging bull and I'm more than happy right now. I am confident it will be back trading in the range it has for the last few months at the .7-.8 range. Funny even though I am sitting on a loss, I am happy, the performance of BDG has renewed my faith. I said earlier that .30 was the bottom and I think now everyone agrees. I am not ramping, I am just stating the case that even at .7 -.8 bdg is good value and I am confident that it will reach that trading range soon.


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## Jrowl (12 January 2007)

> not at all. i dont even hold a position. I have however been watching you like a hawk and IMO 75% of youre posts are baseless. I am more than happy to listen to you if you provide some sort of reasoning with youre posts.




Regardless of that, what I have said has come true, BDG would keep rising and sediment would turn positive.


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## Joe Blow (12 January 2007)

Jrowl said:
			
		

> I am confident it will be back trading in the range it has for the last few months at the .7-.8 range.
> 
> (SNIP)
> 
> I am not ramping, I am just stating the case that even at .7 -.8 bdg is good value and I am confident that it will reach that trading range soon.




Jrowl, unless you back up your claim/s with some reasoning or supporting evidence, it is a ramp. It is the very definition of a ramp. So far you have failed to do this.

A review of some of your earlier posts in this thread:

January 4th:


> In my opinion, if you sell this stock, it will shoot up like a stock does when you sell. I think this is the bottom for the stock.....




also January 4th:


> At $.73 people are capitulating which generally means a bottom.




All but one of your posts are in this thread and all of them are pumping up BDG with little to support your views. Please review ASF's policy on ramping in this thread: https://www.aussiestockforums.com/forums/showthread.php?t=4773


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## The Mint Man (12 January 2007)

SevenFX said:
			
		

> Is this a Rhetorical Question...???



No. simply asking a question.



> your the best judge of that...



Indeed!



> Anything can happen in the long term.



True. When I bought BDG I said (to myself, not in here) I *may* hold onto this until 2010 along with OSH which I bought at about the same time.
We'll see what happens.

cheers


----------



## saichuen (12 January 2007)

For the record, I do not hold BDG and do not intend to in the short term. I am just following this thread out of interest.

Here's my 2 cents worth...

Even if the sp for BDG do goes back to where it WAS before the announcement, how can this be regarded as a good thing? 

Fundamentally, BDG has gone from a downgrade in reserves/resources before further dowgrading again from producer to explorer?

Happy trading!


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## Kauri (12 January 2007)

Jrowl said:
			
		

> Yes I did not like how this stock went down, I held shares at $1 and then bought more SPP at .80 but I really like how this stock has been performing after the bigbang. I lost faith the first day it went down but I hanged on tight .....




   Now why am I not surprised...



> BDG would keep rising and _sediment_ would turn positive.




 Now I understand... if the sediment is positive just imagine what main ore is like..


----------



## spitrader1 (12 January 2007)

Kauri said:
			
		

> Now why am I not surprised...
> 
> 
> 
> Now I understand... if the sediment is positive just imagine what main ore is like..



FMLMFHO


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## Dr Doom (12 January 2007)

I think the proof here will be the shareholder notices over the next few weeks. I think the ASX disclosure rules allow more time for companies to disclose holdings so it appears like an opportunistic venture by SBM to profit in the churning and the quick ann further propelling the sp. Again, no ann so far as hard data eg production or discoveries yet, (and I don't expect any soon) so BDG at the mercy of professional manipulators I assume. It might be an even more interesting week next week   
I'm not complaining as I hold both.


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## chicken (13 January 2007)

Reading the Age today....SBM are talking of a friendly takeover...if not their 10% share assures them of a seat  at the table...Ed said he will be talking with management next week as to see what the SBM team can do for the company to get it on track in exploration...ED knows the Victorian Goldfields and which ever way it goes the 34.5c they paid for their holdings is less than the plant and assets are worth...which ever way it goes looks like SBM had pulled it of again...this deal will be worth a lot of millions for SBM...If they takeit over...plant will be worth a lot to SBM as they have use for it...if not their %% they get for their holdings will be great...easy money for SBM...good move by SBM


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## Dr Doom (13 January 2007)

nearly chicken, but not actually........

Mr Eshuys would not be drawn on St Barbara's next move. *Market speculation* was that initial focus would be the potential for a "friendly" merger. Failing that, St Barbara, a $420 million company, *could* make an all-out assault on the $250 million Bendigo.


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## Sean K (13 January 2007)

chicken said:
			
		

> Reading the Age today....SBM are talking of a friendly takeover...if not their 10% share assures them of a seat  at the table...Ed said he will be talking with management next week as to see what the SBM team can do for the company to get it on track in exploration...ED knows the Victorian Goldfields and which ever way it goes the 34.5c they paid for their holdings is less than the plant and assets are worth...which ever way it goes looks like SBM had pulled it of again...this deal will be worth a lot of millions for SBM...If they takeit over...plant will be worth a lot to SBM as they have use for it...if not their %% they get for their holdings will be great...easy money for SBM...good move by SBM



Chicken, you have posted elsewhere that you only invest in companys that are *producers*, or you are *100% certain * have the resources they claim, and will go into production. Why are you so certain BDG is a good investment for SBM when they have got it so horribly wrong?


----------



## Kauri (13 January 2007)

kennas said:
			
		

> Chicken, you have posted elsewhere that you only invest in companys that are *producers*, or you are *100% certain *have the resources they claim, and will go into production. Why are you so certain BDG is a good investment for SBM when they have got it so horribly wrong?




   I'm waiting to see what Mr Tim Treadgold has to say..


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## chicken (13 January 2007)

kennas said:
			
		

> Chicken, you have posted elsewhere that you only invest in companys that are *producers*, or you are *100% certain * have the resources they claim, and will go into production. Why are you so certain BDG is a good investment for SBM when they have got it so horribly wrong?



IT is simple....the assets of BDG are higher than 34.5cents right...if SBM takes them over the plant if not used in Bendingo can be used in WA...the availability of plant..there is a 20months wait..if Eds team finds the GOLD..SP goes north from here..if any one has the knowlege..its Eds team..If some one else wants them..eg Newcrest...SBM still will come out with a healthy profit...cant lose situation...


----------



## Sean K (13 January 2007)

chicken said:
			
		

> IT is simple....the assets of BDG are higher than 34.5cents right...if SBM takes them over the plant if not used in Bendingo can be used in WA...the availability of plant..there is a 20months wait..if Eds team finds the GOLD..SP goes north from here..if any one has the knowlege..its Eds team..If some one else wants them..eg Newcrest...SBM still will come out with a healthy profit...cant lose situation...



Personally, I think it was a good trading decision by SBM in the short term. They moved damn fast and must have been watching it closely for some time. The stock was clearly oversold due to the inevitable knee jerk reaction of the market. It usually over and undershoots but will usually come back to some equilibrium. It's very hard to put a value on BDG now due to the uncertainty over the reserves and that's what this new approach is set out to do. I'm not too sure how easy it is to move a mill from Bendigo to WA though Chicken....I have thought for some time that BDG would be taken over, but by who and when is just the question now IMO. SBMs strategic stake puts them in the drivers seat somewhat. 

(not holding)


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## Jrowl (13 January 2007)

They own 10%, what can they do with 10%?


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## Freeballinginawetsuit (13 January 2007)

A significant holding and an experienced goldie>SBM, could sway other substantial holders to vote in the same direction as SBM. 
A decent holding also puts them in the drivers seat as a predator or to fend off the others from picking at the BDG scraps. 

BDG still has a resource to prove, SBM got in their quick and it would seem highly unlikely others would be taking the same size holding once a position has already been taken by another goldie.

Lets face it, it wouldn't be a wise decision to hold more than '10 percent odd' of BDG until they get an act and define a mineable area. Recent production and BDG's SP, show their on eggshells ATM.

  SBM probably don't want them to waste all that cash in the bank, they will be watching that closely. BDG spent 100 mill over the last decade to define and ensure market confidence in reserves, what a waste! as that concern is exactly why they are in this predicament.


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## Kauri (13 January 2007)

If another company wants to T/O BDG the compulsory aquisition level of all outstanding shares is 90%. So SBM's 10% stake will most likely discourage/block any T/O attempt. As they were already looking at several operations as possible aquisitions I *imagine* BDG was one of them, so they most likely already have a good dossier on the company. This stake gives them time to reassess BDG in light of the latest developments, possibly also time for the S/P to settle, before making a move.
   I'm sure they are not interested in the plant alone as a relocation to the West, although it is relatively easy to break it down and relocate it. It's the reserves they are after. 
       However if they did break down the plant that is a job I would like to be on, the amount of free gold left in the circut is amazing!!!!    irate:


----------



## The Mint Man (16 January 2007)

Just noticed this in the news section of comsec:



> Date: 15/1/2007
> Author: Tracy Lee
> Source: The Australian Financial Review --- Page: 12
> Bendigo Mining's recent move to downgrade its status to explorer has prompted rumours of a potential class action from investors. In the week ended 12 January 2007, the company announced the termination of production at its Kangaroo Flat underground mine in Victoria, due to lower-than-anticipated ore grades. The news prompted a 60 per cent fall in Bendigo Mining shares on 9 January and wiped more than $A200 million from the value of shareholders' investment in the company. Some legal firms have reportedly made preliminary inquiries about the feasibility of a class action.




cheers


----------



## Sean K (16 January 2007)

Not surprising. The instos will be chasing this fur sure.....


----------



## Agentm (16 January 2007)

I have been out of the gold for a few years, but following the history of bendigo and st barbara for the past year and 6 months respectively, interesting days.. i like the style of the SBM team, and i dont think anyone enters into a position like they have for no reason, there is definite and well planned steps occuring, SBM have moved location and have obvious motives in their actions.

I dont hold any of the stocks, i had considered BDG but couldnt believe in their management, and obviously i was right about that now.. but i have a different opinion on SBM and am seriously considering following them as they have a impressive and shrewd team in place and are meaning to do positive things for their company and more importantly, their own reputations!! egos run big in mining!


----------



## The Mint Man (16 January 2007)

Was reading in 'The Australian' that Ed from SBM has not agreed with BDG's stratergy for the last 2 years and still dosnt now. He says that they should be more aggressive with their drillings and that they should be more like 50m apart compared to what they are doing now (from memory 120m, correct if wrong please).
However the fact that he (Ed) has been watching them for 2 years is really interesting IMO.

Cheers

PS: if anyone finds a copy of the article I speak of please post it. It was in todays 'The Australian'.


----------



## toc_bat (16 January 2007)

dont wanna b a stick in the mud, in fact know very little about BDG and Ed, but i reckon anyone with a reputation like Ed (his rep precedes him here) would be watching just about every competitor or friend or enemy in the business, part of his job description really


----------



## Coach Carter (16 January 2007)

*The Australian*

*St Barbara says Bendigo should be holier*
Andrew Trounson 
January 16, 2007 

St Barbara chief executive Ed Eshuys says struggling gold miner and possible takeover target Bendigo Mining needs aggressive, closer hole drilling if it is to prove up reserves for resurrecting its Bendigo project.
Last week St Barbara snared a 10 per cent stake in Bendigo Mining, taking advantage of a share price collapse because of the shock decision to suspend mining at Bendigo and go back to the exploration drawing board. 
The move positions Mr Eshuys to press for a merger while acting also as a blocking stake to any other would-be acquirer. 

Mr Eshuys said yesterday he had been casting his eyes over the Bendigo project for two years but had never agreed with the company's previous development strategy, which was now in tatters after initially targeted ore yielded disappointing grades and tonnages. 

Mr Eshuys said new boss Rod Hanson remained on the wrong track with planned drilling of the highly variable ore too widely spaced at 200m a hole. 

"That won't give you the detail that is required," Mr Eshuys said, suggesting a more aggressive spacing of 50m would be needed. 

But Mr Hanson rejected criticism of the new exploration drive. He said it was a well-tested strategy to start with wide space drilling and then zero in on positive results with closer drill holes drilled 120m and then 40m apart. 

"We need to start wider spaced and then home in on where the best results are," he said. 

Mr Eshuys conceded he was not in a position to direct the strategy at Bendigo, but he would seek discussions with the company "at the appropriate time". 

Mr Eshuys would not comment on whether St Barbara was planning a takeover bid but said its stake had given it options. 

"Basically we have the option of sitting where we are, or making a bid, or selling," he said. 

But while Mr Eshuys does not agree with Bendigo's exploration plan, he is in line with Bendigo in being upbeat. "There is potential for a long-life, low-cost, operation to be developed there." He said the fields had produced 22 million ounces historically, 17 million of which was from hard rock, and that mining was stopped by rising water levels, not by the ore running out. 

Bendigo shares fell back 2.5c to 48c. St Barbara shares rose 3c to 54c.


----------



## The Mint Man (16 January 2007)

Thanks for that. Nice first post!


----------



## SevenFX (16 January 2007)

Jrowl said:
			
		

> Looks like some people don't like how this stock has been going up.




Is there someone missing in this thread today...????


----------



## SevenFX (17 January 2007)

*"A rolling stone gathers no moss..."*

"A rolling stone gathers no moss..."

So too is this thread, which seems to attract no interest, possibly because sp trending down 3 days in a row... 

Hoping 2 learn something today from the charts and ranging sp...????

*Only* support I can find to validate why bdg is ranging between 40.5c-41.5c with strength at 41c is back from 15 Feb 1993, yes thats right 1993...???

Love to hear any fundamentals supporting this or different chartists pov.

Thanks
SevenFX


----------



## Sean K (17 January 2007)

*Re: "A rolling stone gathers no moss..."*



			
				SevenFX said:
			
		

> "A rolling stone gathers no moss..."
> 
> So too is this thread, which seems to attract no interest, possibly because sp trending down 3 days in a row...
> 
> ...



Charts out the door for me on this. After such a shock, I just think it's searching for fair value. Impossible to say where that is at the moment because of the uncertainty. Perhaps it's worth the plant, cash, and 3m oz au at the quoted cash price plus 10% for delay maybe? Just a pluck. This might be a great recovery story, but for now it's an explorer with assets already in place to start mining.....


----------



## cuttlefish (17 January 2007)

possible technical stuff - 50% retrace of gap up from .29 low to .535 high.

also from memory SBM's avg entry from their announcement was .375 - 50% on top of that from the .295 low also gets around the .415 mark. 

There was also a lot of heavy trading going through and a lot of action around the .42c mark during trading on the 11th Jan.


----------



## SevenFX (17 January 2007)

*Re: "A rolling stone gathers no moss..."*



			
				kennas said:
			
		

> Charts out the door for me on this. After such a shock, I just think it's searching for fair value. Impossible to say where that is at the moment because of the uncertainty. .




Kennas.

It's the only support I can find at current sp, so can't it be used at all...I always thought the older (and greater touches there is) the stronger it is...????



			
				cuttlefish said:
			
		

> possible technical stuff - 50% retrace of gap up from .29 low to .535 high.
> 
> also from memory SBM's avg entry from their announcement was .375 - 50% on top of that from the .295 low also gets around the .415 mark.
> 
> There was also a lot of heavy trading going through and a lot of action around the .42c mark during trading on the 11th Jan.




Cuttlefish.

I didn't think trading in the middle of open/close or high/low had any effect on support or resistance in the future...???? If so can your share experience as I never watch for that...???

So given this runs back up tommorow (despite weak retracement from 55%) we should see roughly 80% chance of it failing at 52.5c, safe profit at 59c with full extension at 65c in the coming days/weeks IMO...

Hows that sound to you C.


----------



## Feng (17 January 2007)

cuttlefish said:
			
		

> possible technical stuff - 50% retrace of gap up from .29 low to .535 high.
> 
> also from memory SBM's avg entry from their announcement was .375 - 50% on top of that from the .295 low also gets around the .415 mark.
> 
> There was also a lot of heavy trading going through and a lot of action around the .42c mark during trading on the 11th Jan.




hi, cuttlefish,
SBM's avg cost was 0.348 on their announcement. 
BTW, as I remember, only 6m shares traded at 0.29 on 9th, Jan.


----------



## cuttlefish (17 January 2007)

*Re: "A rolling stone gathers no moss..."*



			
				SevenFX said:
			
		

> Cuttlefish.
> 
> I didn't think trading in the middle of open/close or high/low had any effect on support or resistance in the future...???? If so can your share experience as I never watch for that...???




Basically price action is a psychological thing - the more a stock trades at a particular price level the more people that are psychologically 'attached to/aware' of that level.  So if intraday volume was high around a certain price level then thats as relevant as end of day price from my perspective. It could also be a reflection that that is a level at which larger players see value based support as well.

That being said I'm not a technical analyst and use technicals as a secondary to fundamentals so probably not the best person to ask.



			
				SevenFX said:
			
		

> So given this runs back up tommorow (despite weak retracement from 55%) we should see roughly 80% chance of it failing at 52.5c, safe profit at 59c with full extension at 65c in the coming days/weeks IMO...
> 
> Hows that sound to you C.




can't help you there either as I'm not too strong on the technical side of things (as per comments above).


----------



## cuttlefish (17 January 2007)

Feng said:
			
		

> hi, cuttlefish,
> SBM's avg cost was 0.348 on their announcement.
> BTW, as I remember, only 6m shares traded at 0.29 on 9th, Jan.




thanks - my mistake on the average price - wow not a bad effort to pick up 10% at that level was it!

not sure of the volumes, but it opened at .29, ran up to 36 ish and then back down to bounce off the .29 support and close around the .30 mark - so .29 is a psychologically important price level to my mind.


----------



## ricm (18 January 2007)

a quick deviation from the current discussion, but thought some of you may be interested...


If u are fortunate enough to have foxtel/optus, there is currently a good documentary doing the rounds on the national geographic channel. "tau tona: city of gold"

Gives a great insight into a south african mine featured, (name eludes me atm) and for those not familiar to the logistics of an underground gold mine, this will definetly give you some humbling perspective in what u are actually investing/trading in, regarding underground mining.

The mine has been operational and profitable since the late 1940's, reaches over 3km(or miles?) down into the earth, averages 10 earth quakes per day, +34 degree tempretures are experienced at the stoping face, along with unpredictably definable boiling hot aquifers, and to top it off, alot of it still mined by hand in less space than is under my desk. Plus a whole lot more other interesting facts.

Makes you marvel at the guts of the miners and organisaton of the management! Check it out if u can.

cheers
R


----------



## toc_bat (18 January 2007)

without seeing the doco i ask the following q's

are the miners poor black south africans? mining in an exploitative  way that was established and acceptable during the apartheid years.

is it their guts or their financial destitution that makes them go down there every day?


----------



## Accaeric (18 January 2007)

a JP Morgan analysis values BDG at 36c, it would lead sp to that level


----------



## rub92me (18 January 2007)

Accaeric said:
			
		

> a JP Morgan analysis values BDG at 36c, it would lead sp to that level



 Well, maybe they're looking to buy some? Would be interested to see their valuation method.


----------



## Sean K (18 January 2007)

rub92me said:
			
		

> Would be interested to see their valuation method.



I reckon! How the hell do you come up for one for this now? Must be based on the plant and cash in the bank. They must have used an approximate resource estimate for the project.....would be interesting to know what it was.


----------



## SevenFX (18 January 2007)

rub92me said:
			
		

> Would be interested to see their valuation method.




I would be more interested to see their valuations at the 74c, 1.29 & perhaps the 2.49 mark the days before it fell rapidily... as not much reference to them when SP falls.

Do they (or bigger clients) have a stake in BDG....and how close are their valuations to plant and equiptment...????

Just because they're big broking houses, doesn't mean they get it right...


----------



## Accaeric (18 January 2007)

SevenFX said:
			
		

> I would be more interested to see their valuations at the 74c, 1.29 & perhaps the 2.49 mark the days before it fell rapidily... as not much reference to them when SP falls.
> 
> Do they (or bigger clients) have a stake in BDG....and how close are their valuations to plant and equiptment...????
> 
> Just because they're big broking houses, doesn't mean they get it right...




This is the case, as i remembered, NLX fell dramatically due to bad news, the broker valued NLX at round 4cent, it did fetch as low as 3c. Market participants are influenced by those brokers especially big one.

anyway, hopefully it wont happen to BDG


----------



## Jrowl (18 January 2007)

Yes they have valued BDG as everything sitting in a parking lot. All the equipment & cash at 36cents. Oh one thing they forgot to value in is the 11million ounce inferred resource which is worth more than the equipment and cash combined by a factor of 10.


----------



## Compol (18 January 2007)

'Top 20 holders' need to get behind SBM now if they want to go forward.  Forget flirtation with class action; this is lawyers wanting to suck them dry!


----------



## SevenFX (23 January 2007)

I see someone has already placed their buy order for 1.3m ($482,400) at 36c...and patiently waiting...   

SevenFX


----------



## britishcarfreak (24 January 2007)

I'm still holding - with an average entry price of 77c.  

I'm tempted to buy a large packet at 38c or so with the potential of recovering my initial losses if it goes back to 55c.  Is this madness or sanity?  It seems to be a thin line.  

Perhaps I should just dump it and play with other stocks that are swinging.  Anyone else thinking of buying more to offset loss?


----------



## Sean K (24 January 2007)

britishcarfreak said:
			
		

> I'm still holding - with an average entry price of 77c.
> 
> I'm tempted to buy a large packet at 38c or so with the potential of recovering my initial losses if it goes back to 55c.  Is this madness or sanity?  It seems to be a thin line.
> 
> Perhaps I should just dump it and play with other stocks that are swinging.  Anyone else thinking of buying more to offset loss?



I think the time to do that was when it opened up off 60%...

However, if you've got a long term vision there's potential here. A takeover/merger with SBM seems a real possibility, and if not there could be a bidding war between SBM and another company pushing the sp up. 

I've read that the plant and cash on hand value this company at about 35 cents. Seems like there's limited downside - but hey, I said that when it was at 80 cents...


----------



## Accaeric (24 January 2007)

kennas said:
			
		

> I think the time to do that was when it opened up off 60%...
> 
> However, if you've got a long term vision there's potential here. A takeover/merger with SBM seems a real possibility, and if not there could be a bidding war between SBM and another company pushing the sp up.
> 
> I've read that the plant and cash on hand value this company at about 35 cents. Seems like there's limited downside - but hey, I said that when it was at 80 cents...




It likely hit 34.5 -36 c shortly


----------



## Dr Doom (24 January 2007)

SBM have done their sums, so will be interesting to see what happens around their buy price; whether it establishes a base for the sp and another round of buying by SBM (or others?)


----------



## britishcarfreak (24 January 2007)

Good luck guys - I spat it today and offloaded at 37.5c.  Better things to do with my money.


----------



## Accaeric (25 January 2007)

unfortunately, it hit 36 as i said early. 
i reckon it is starting to bounce


----------



## SevenFX (25 January 2007)

britishcarfreak said:
			
		

> Good luck guys - I spat it today and offloaded at 37.5c.  Better things to do with my money.




Hi Britishcarfreak,

Shame about the loss, and expect BDG management ought to get a legal hammering from the instos on this one....time will tell.

Hope you didn't hold longer you wanted to, influenced by rampers, which don't ever seem to be round on down days....given their case wouldn't hold up...

I'm sure thÃ©y'll be back the moment the sp turns, and ramping all the way back to 80c again.

As you say your prob better having more certainty in another stock than less which bdg has given shareholders.

Cheers
SevenFX


----------



## The Mint Man (25 January 2007)

britishcarfreak said:
			
		

> Good luck guys - I spat it today and offloaded at 37.5c.  Better things to do with my money.



Thank you, probably need it.


> I'm sure thÃ©y'll be back the moment the sp turns, and ramping all the way back to 80c again.



Similar to the ones that only come in here when it goes down, wouldnt you think?

cheers


----------



## SevenFX (25 January 2007)

Strongest sales at 36.5c (1.2m) which is evident on chart, with only 82k at 36c.

No sure if will hold through, as it ranges below this area given matched b n s.


----------



## SevenFX (25 January 2007)

The Mint Man said:
			
		

> Thank you, probably need it.
> 
> Similar to the ones that only come in here when it goes down, wouldnt you think?
> 
> cheers




Hey look who dropped in...   Jokes aside, wasn;t thinkin of you MM.

The ones you speak of MM, must have been coming here for over 12mths now as it about how long it's been trending down, unless you consider sep 03 when downtrend first started.

But hey tis lookin rosey again right...????


----------



## The Mint Man (25 January 2007)

> Jokes aside, wasn;t thinkin of you MM.



Glad to hear that!  


> unless you consider sep 03 when downtrend first started.



No, First post was in 2005.  


> But hey tis lookin rosey again right...????



Ahhh, why not? :bier:

Edit: by the way, Tek, how did you get that accent above "they'll" as seen in the following quote?







> I'm sure thÃ©y'll be back


----------



## dj_420 (25 January 2007)

i havent looked at these guys before, but reading over posts it seems to have been a very poor performer.

from what ive read there seem to be many, many, many delays, many placements etc. 

where will the sp find a bottom?? surely there would be a decent bounce on this one finding a trend reversal, it was over $2 in the last year and now its 36 cents!

IMO this would be a great one to enter on confirmation of trend reversal. im starting to have a look over the charts.


----------



## cuttlefish (25 January 2007)

one things for certain - this company is either worth a hell of a lot more than .35c a share or its not worth much at all.  Market cap $180 million,  $66 million in cash and also a fair bit of recoverable assets in plant and equipment.  With all the mining and processing infrastructure ready to go and proven to work, they don't need to find much economically mineable gold amongst their 11 Moz inferred resource to justify the current share price. 

Today also presented a chance to buy in at around the levels that SBM entered.

The big question mark, even if they do find economical ore and start generating revenue from it - will be how much do they really have.  Confidence in the 11 Moz inferred resource would have to be pretty low at the moment so carrying out enough resource definition drilling to get a proper ore reserve estimate will be essential to rebuilding shareholder confidence.  (they have to find the economical ore first though).


----------



## Feng (25 January 2007)

SevenFX said:
			
		

> > Shame about the loss, and expect BDG management ought to get a legal hammering from the instos on this one....time will tell.
> 
> 
> 
> ...


----------



## dj_420 (25 January 2007)

yeah i think i would rather buy into this one once an uptrend has resumed and is confirmed. sp is still slipping and until we see some decent indicators then IMO this one will slide further.

it seems the sentiment towards this one has turned very sour. i also agree with the fact that any drill results now, the market may not believe them simply as what has happened in the past with downgrades on resources etc.


----------



## Agentm (25 January 2007)

i think sbm knows whats on the menu!


----------



## Profitseeker (29 January 2007)

I think it is valued at it's current price because no one will give them more money to explore. Therefore they have to produce reserves with the remaining cheeky cash they got from the share placement. I think SBM have taken a slice so they can a) pick up for nothing if they run out of cash b) block any takeovers. I think sbm taken only a 10% slice in BDG is almost the worset thing that could of happened as it will make bigger comapnies more reluctant to take the whole thing out. Only hope is to really find a big vein before June but they have failed to do that over 25 years.


----------



## SevenFX (29 January 2007)

Feng said:
			
		

> SevenFX said:
> 
> 
> 
> ...


----------



## cuttlefish (29 January 2007)

Doubt there will be a class action - every time a stock falls heavily there's this sort of grandstanding by the law firms.


----------



## SevenFX (29 January 2007)

cuttlefish said:
			
		

> Doubt there will be a class action - every time a stock falls heavily there's this sort of grandstanding by the law firms.




Good way to promote their firm though  :


----------



## constable (30 January 2007)

Well at 34.5 its nearly back where it started "oversold again" . Will this bottom be as low as the last ? hmmm shouldnt be ....bottoms already been tested right ?  
 Infrastructure assets havent gone anywhere and they must be sitting on  at least 1 nugget. Anyway ive tested the water with one hand on the plug!


----------



## Dr Doom (30 January 2007)

The chart shows a rounding of the bottom, and is up 1c at the moment.  All those who wanted to get out the second time round have had their chance so only leaves those actually wanting to hold BDG for the long term in the game, so should see some stability until more ann's (or the AFR 'leaks' another bit of insider knowledge????).


----------



## constable (30 January 2007)

Dr Doom said:
			
		

> The chart shows a rounding of the bottom, and is up 1c at the moment.  All those who wanted to get out the second time round have had their chance so only leaves those actually wanting to hold BDG for the long term in the game, so should see some stability until more ann's (or the AFR 'leaks' another bit of insider knowledge????).



volumes slowed up too, today still hasnt cracked 1 mill units whereas last 3 days have been 6mill,6mill,5mill, so it would seem 2nd shakeout has just about run its course.


----------



## constable (30 January 2007)

constable said:
			
		

> volumes slowed up too, today still hasnt cracked 1 mill units whereas last 3 days have been 6mill,6mill,5mill, so it would seem 2nd shakeout has just about run its course.



amazing what can happen in 1/2 an hour ....volumes doubled and buyers @ .355 and sp should crack .36 any minute now!


----------



## rico01 (30 January 2007)

Constable
   Looks like you spoke too soon! turnover now 2.4 mill


----------



## constable (30 January 2007)

well up 3 cents in 30 minutes hmmm looks like a runner to me!!!


----------



## rico01 (30 January 2007)

maybe another share raid, SBM building there stake


----------



## chicken (30 January 2007)

rico01 said:
			
		

> maybe another share raid, SBM building there stake



No, not so...ED said today....that BDG will have to demonstrate to SBM that what was said about their Goldposition is so....ED is now chalenging BDG to show SBM that where they are mining is indeed the right place...he said SBM will NOT wait 2 years but the issue has to be adressed now....also Ed said BDG has a 8km goldbearing deposit..and will want them to start mining where the GOLD is....Ed said ,this is not a walk in the park....looks like management will get a hurry up from SBM...patient wearing out.....


----------



## Feng (30 January 2007)

chicken said:
			
		

> No, not so...ED said today....that BDG will have to demonstrate to SBM that what was said about their Goldposition is so....ED is now chalenging BDG to show SBM that where they are mining is indeed the right place...he said SBM will NOT wait 2 years but the issue has to be adressed now....also Ed said BDG has a 8km goldbearing deposit..and will want them to start mining where the GOLD is....Ed said ,this is not a walk in the park....looks like management will get a hurry up from SBM...patient wearing out.....




but this following article is saying different story.
http://www.smh.com.au/news/business...ig-gwalia-deeps/2007/01/22/1169330827283.html

_Earlier this month St Barbara moved its headquarters from Perth to Melbourne and spent $17.2 million purchasing a stake in troubled Victorian miner Bendigo Gold.
St Barbara managing director Ed Eshuys yesterday said he had yet to meet the company's management but reiterated St Barbara would not insist on board representation.
_
this article was reported one week ago.


----------



## SevenFX (30 January 2007)

constable said:
			
		

> well up 3 cents in 30 minutes hmmm looks like a runner to me!!!




Somewhat Nice day for BDG, given it's recent non-performance.

If this is a retracement reversal (a weak one at that), then a good entry would be bet 40c-42.5c.

Should it pass the 50% danger zone which would be above 46.5c, safe profit would be at 53c with full extension of 100% being 59c.

Early days though.
SevenFX


----------



## chicken (31 January 2007)

Feng said:
			
		

> but this following article is saying different story.
> http://www.smh.com.au/news/business...ig-gwalia-deeps/2007/01/22/1169330827283.html
> 
> _Earlier this month St Barbara moved its headquarters from Perth to Melbourne and spent $17.2 million purchasing a stake in troubled Victorian miner Bendigo Gold.
> ...



THAST is OLD news..ED now said...his patiens is running out and the situation will have to be adressed NOW...as a 10% shareholder SBM will be able to change a lot of things as they can make it rather hot for management......and that will be good for BDG and SBM...things are hotting up and I would not want to be in the management position in BDG  ,as, ED said it will not be a walk in the Park...but the acid is coming into play...about time these people got a hurry up....all in todays news....and further there is a 8km identified Gold Reef...and ED is asking why they are not mining where the GOLD is ?  logical I thought


----------



## Feng (31 January 2007)

Just found the news from the following website:
http://bendigo.yourguide.com.au/det...lass=general&story_id=551990&category=general

Tuesday, 30 January 2007 	

Show us the gold
SHARON KEMP

ONE of Bendigo Mining's largest stakeholders has delivered a stern warning to those now in control of the embattled company.

St Barbara Mining chief executive Ed Eshuys has demanded Bendigo Mining demonstrate the potential it has previously stated and told The Advertiser he was keen to inspect the company's operations in the near future.

St Barbara Mining pounced earlier this month when Bendigo Mining shares plummeted after the company announced plans to suspend gold production, shed 150 jobs and farewell leading executives, including long-standing managing director Doug Buerger.

The Bendigo company had yielded less gold than expected in the previous three months, after earlier conceding that it had overestimated the reserves of gold it expected to extract from the first stages of its mining operation.

St Barbara spent $17.5 million to buy 10per cent of Bendigo Mining shares, and while Mr Eshuys believes the company has potential, his reserves of patience do not appear to be unlimited.

Asked if St Barbara would observe Bendigo Mining's progress for the next two years, he said: "Our interest will be more immediate than that".

Shareholders would "demand" Bendigo Mining "demonstrate the potential of the operation", he said.

Mr Eshuys was the former chief geologist for Joseph Gutnick, and was instrumental in bringing the famous Bronzewing gold mine in Western Australia into production.

With St Barbara, which operates in Western Australia, relocating its headquarters to Victoria earlier this month, he is likely to have a close interest in Bendigo Mining. 

He reiterated yesterday that St Barbara was not interested in a takeover, explaining that he had not been asked, nor did he want, to take a seat on the company's board. But he also indicated he would not necessarily take a passive role as a shareholder. He said his interest in the Bendigo company and its ability to shore up gold reserves was immediate and not in two year's time.
Mr Eshuys said it "won't be a walk in the park" for Bendigo Mining to demonstrate gold exists at the underground mine in the quantity it claims.
But he said Bendigo Mining had the potential to be long-life and low-cost operation. With $66 million in its bank, the Bendigo company was equipped to demonstrate that potential, he said.

"I don't know if they have been clear enough given the decisions they made," Mr Eshuys said."One of the best places to look for gold is where there is gold already."

Bendigo Mining had 8km of underground gold-bearing reefs as part of its tenement holding and had to choose the right point at which to drill.

Mr Eshuys questioned the company's decision tostart mining at the southern end of the reefs, at Kangaroo Flat, which is the less prospective end.
"The company needs a renewed focus about the best place to be," he said.
"It won't be a walk in the park"


----------



## Feng (31 January 2007)

One more:

http://www.theaustralian.news.com.au/story/0,20867,21138150-23634,00.html

_Bendigo Mining (BDG, 34c), has suspended production altogether as it works out whether the fabled old timers left any gold after all.

Given Bendigo has spent $300 million on the mine - the company's only asset - it's an awkward time to be having second thoughts. So much for becoming a one million ounce a year producer. With its slashed market cap of $168 million, Bendigo is being valued as a gold explorer with an impressive disused shaft: an ideal aquifer to solve the township's water woes. HOLD for the fire sale. _


----------



## Feng (3 February 2007)

Just found out the ownership from BDG's web.
http://www.bendigomining.com.au/our_investors/ownership.htm

As at 31,Jan,2007, 

Substantial Shareholders
JF Capital Partners 66.8 million shares: 13.7% 
St Barbara Ltd 49.5 million shares: 10.0% 
Black Rock 46.0 million shares: 9.3% 

Top 20 Holders Ordinary Shares % 
  281,633,861 56.85 
National Nominees Limited 64,063,473 12.93 
St Barbara Limited 49,534,000 10.00 
Westpac Custodian Nominees Limited 46,934,647 9.47 
ANZ Nominees Limited 21,914,547 4.42 
HSBC Custody Nominees (Australia) Limited-GSCO ECSA 19,334,219 3.90 
J P Morgan Nominees Australia Limited 11,088,289 2.24 
Citicorp Nominees Pty Limited 10,887,296 2.20 
Naiko Investment Pty Ltd 10,600,000 2.14 
HSBC Custody Nominees (Australia) Limited 6,650,467 1.34 
HSBC Custody Nominees (Australia) Limited - A/C 2 5,597,231 1.13 
Cogent Nominees Pty Limited 4,197,648 0.85 
Ceramic Oxide Fabricators Pty Ltd 3,726,623 0.75 
Naiko Investment Pty Ltd 3,726,623 0.75 
Neweconomy Com Au Nominees Pty Limited 2,444,429 0.49 
The University Of Melbourne 1,974,470 0.40 
Mr Song Song Zhang 1,900,000 0.38 
Mleq Nominees Pty Limited 1,791,457 0.36 
Queensland Investment Corporation 1,732,360 0.35 
Comsec Nominees Pty Limited 1,702,331 0.34 
Mt Stephen Craig Jermyn 1,500,000 0.30


----------



## The Mint Man (9 February 2007)

Anyone got an idea as to why BDG has had a run over the last few days. 
Wed-1.43%
thur- 4.23%
today- 5.47% at the moment (10:37am)
this is 11% over the last 3 days.
Is something going on that I dont know about?  

cheers


----------



## Dr Doom (9 February 2007)

Signs of accumulation today with the uneven bid/ask still buying into 39.5, and hitting 40 right now. I think this might be the pattern until the next ann ie someone has an agenda to buy into the dips & accumulate at these cheap prices. Pressure from SBM to produce may pay dividends sooner than people think.


----------



## Techbuy (9 February 2007)

The Mint Man said:
			
		

> Anyone got an idea as to why BDG has had a run over the last few days.
> Wed-1.43%
> thur- 4.23%
> today- 5.47% at the moment (10:37am)
> ...



Could it be that someone has woken up to the fact the BDG have bult and own a processing plant as well as a lot of undrilled areas? they spent millions on that plant and infostructure and  if they come back with a positive on the drilling where will the price go? SBM is pushing them to drill more and with something like $60mill in the bank they can drill quite a lot of holes to find the run of the reefs.


----------



## Dr Doom (9 February 2007)

I agree techbuy, & the price action the last 3 days suggests someone is willing to accumulate under 40c at least. Repeated sells at 39.5 fails to dampen the enthusiasm. I wouldn't be surprised to see it finish above 40 today at least to prove the point?. Quietly going under the radar with small daily percentage increments? And good volume too.


----------



## rub92me (21 February 2007)

Still on my watchlist and saw this is slowly drifting back again. Management doesn't appear to be in a hurry to inform sorely disappointed shareholders how the execution of the new 'strategy' is going. I thought it was difficult to see how they could stuff this up anymore from a PR perspective, but they're certainly trying!


----------



## Dr Doom (21 February 2007)

Yes, in the absence of an ann the sp will drift with the pog, but generally down as people lose interest in a quick play. I had a small poke at it when trying to get past 40c but got out at 39.5 when that looked like failing. Tech analysis pretty much useless in these situations so we all wait for the next ann, hopefully they have worked out where to dig this time


----------



## Techbuy (22 February 2007)

It is now down to $0.345 is this the time to get more?

read this from an interview 16/2/07 with MD & CEO Eduard Eshuys.
http://www.corporatefile.com.au/documents/OB/Gwalia Deeps & Bendigo Strategy 16.02.07.pdf


St Barbara acquired a 10% stake in Bendigo Mining immediately following a
downgrade in production and resource expectations at the Bendigo mine. What is your strategy with Bendigo? Where and how do you see St Barbara adding value to Bendigo and your respective shareholders?

MD & CEO Eduard Eshuys
In terms of historical levels of production, the Bendigo goldfield is Australia’s
second largest goldfield after Kalgoorlie and the seventh largest in the world.
For this reason St Barbara has been studying and researching Bendigo for the past 18 months. I have also personally been considering the region for the past 5 years.

It was this background that enabled St Barbara to move decisively to acquire the 10% on market over 3 days at a weighted average price of 34.8 cents per share, after Bendigo had announced its own downgrade from miner to explorer.

The acquisition of the 10% stake in Bendigo provides St Barbara with a strategic interest in this important gold region, and opportunities to increase the value of its investment in the event of exploration success.

There clearly is a need for Bendigo to establish JORC compliant reserves. This can be achieved only if a thoroughly disciplined approach is adopted and executed.
The established underground infrastructure and processing plant will only have value for all shareholders if this occurs.

St Barbara’s 10% holding in Bendigo has created the opportunity for St Barbara to participate in any improvement in Bendigo’s performance, and to possibly increase or divest our interest. We will assess these options over time and are under no pressure to make an immediate decision.

corporatefile.com.au
You have stated that the key to reserve definition success at Bendigo is to increase the level of drilling on tighter (40m) centres. Bendigo is a vein-hosted variegated coarse gold deposit with largely predictable repetitive reef structures at depth.
What difference would drilling at closer spacings make on your understanding of the likely economic potential of the orebody? Is spending more money on
intensive exploration the most prudent strategy in this type of mineralised
environment?

MD & CEO Eduard Eshuys
Bendigo’s work on underground development and infrastructure has established the platform for exploration and drilling from underground.
The geology, reefs and lines of reefs have been recorded in detail from past
production up to the 1920’s and exploration in the 1930’s and again in the 1980’s by Western Mining. 

The predictability of the reefs has been established. An estimate of 11 million ounces as an Inferred Resource has been made by Bendigo.
Detailed drilling on 40–50 metre intervals of the mineralised reefs and associated structures may allow Indicated Resources (and potentially reserves) to be established. More money therefore needs to be spent on intensive exploration to achieve these outcomes.


----------



## Techbuy (23 February 2007)

More from BDG
http://www.corporatefile.com.au/documents/OB/Update on Bendigo Strategy SEV5 PDF 23.02.07.pdf
if you can not get there with this link try this one.

http://www.corporatefile.com.au/default.asp?mode=main


----------



## rico01 (2 March 2007)

A director just notified he bought 150000 shares for his super @33.5 cents
There's still hope yet


----------



## Techbuy (2 March 2007)

rico01 said:
			
		

> A director just notified he bought 150000 shares for his super @33.5 cents
> There's still hope yet




I still think there is hope and buy a few now and again while they are trawling around at these prices slowly topping up what I have.
It just needs one of the drillings to show some potential for the SP to move and they still have all the plant and infostructure ready to roll.

I am sure there are a lot of members on the forum that are able to find or read the geological info to either give us hope or tell us we are chasing a goose.


----------



## The Mint Man (6 March 2007)

Under $0.30 ATM (At $0.295)
BDG has just gone beyond the joke I recon


----------



## Sean K (6 March 2007)

The Mint Man said:
			
		

> Under $0.30 ATM (At $0.295)
> BDG has just gone beyond the joke I recon



Ripe for a complete takeover soon. Either SBM will make a full offer, or they'll make a few quid on their investment. 

(not holding)


----------



## The Mint Man (6 March 2007)

kennas said:
			
		

> Ripe for a complete takeover soon. Either SBM will make a full offer, or they'll make a few quid on their investment.
> 
> (not holding)



 :iagree: 
I think this has been known for some time now.... well ever since SBM bought in a little while back..... It is (edit "was") bound to happen. Chicken will be happy  
Also, from memory the AFR valued their assets at $0.45 per share (correct me if Im wrong) alone so they are way under value! not just in my opinion but in almost everyones opinion I would imagine, Like you said kennas, they would have to be ripe for a takeover.

cheers


----------



## Dr Doom (6 March 2007)

Another director buying ann today 33k @ 33.5c


----------



## Tradewinds (6 March 2007)

Techbuy said:
			
		

> I am sure there are a lot of members on the forum that are able to find or read the geological info to either give us hope or tell us we are chasing a goose.




Two words......"nugget effect"


----------



## Feng (6 March 2007)

kennas said:
			
		

> Ripe for a complete takeover soon. Either SBM will make a full offer, or they'll make a few quid on their investment.
> 
> (not holding)




Hi, Kennas,

As you are not holding this atm, maybe you are still not fully convinced to get it back?


----------



## Feng (6 March 2007)

Dr Doom said:
			
		

> Another director buying ann today 33k @ 33.5c



33k is not a big deal compared with another director. but it is still a good signal for the company imo. either the directors want to average their cost or they believe in the future of the company. Let's wait and see!


----------



## Techbuy (6 March 2007)

The Mint Man said:
			
		

> :
> Also, from memory the AFR valued their assets at $0.45 per share (correct me if Im wrong) alone so they are way under value! not just in my opinion but in almost everyones opinion I would imagine, Like you said kennas, they would have to be ripe for a takeover.
> 
> cheers




while they are down to 30c I still think its shopping time and just keep topping up my holdings in it and still expect them to go back to around 45c someday.
If they ever do find enough gold to reopen the plant then we should see bigger gains than 45c but thats still "pie in the sky" right now or we might see this happen.



			
				Kennas said:
			
		

> :
> Ripe for a complete takeover soon. Either SBM will make a full offer, or they'll make a few quid on their investment.


----------



## Sean K (7 March 2007)

Feng said:
			
		

> Hi, Kennas,
> 
> As you are not holding this atm, maybe you are still not fully convinced to get it back?



I'm generally a seller at the moment, not a buyer. I'm not saying buy this right at the moment (Joe wouldn't like that!   ), just that it might be taken over down the track.....Will look at it once the dust settles. Long term holders in this are probably safe IMO. However, I think I said that when it was at 80 cents during the capital raising too, so ignore me please!


----------



## Freeballinginawetsuit (7 March 2007)

Maybe if youre up for a punt and never look at the stocks, a little dab in this one Long Term might pay off. No more than 10k IMO.

Same odds as the casino (lose the lot), but a chance it might double to 60 cents in a year. A gamble really>with a decent percentage in your favour. 

I'm not up for it though , BDG needs some news to let the market know were their at, or not at!.


----------



## juiceman (12 March 2007)

Anybody still interested in BDG
Have a look at the course of sales for their last 2hrs Monday
Look at the small parcels, IMO somebody is trying to push them down.
Any thoughts?


----------



## Dr Doom (12 March 2007)

Howdy juiceman,
I think that in the absence of any announcements the sp is drifting lower, and is getting close to the previous low, which scares a few people & who then want to get out. This one really needs an ann soon, preferably a very good news one. Also maybe a general lack of interest in gold stocks until gold sets a clear trend?.


----------



## Jrowl (13 March 2007)

I remember the directors all buying the SPP 6250 shares each of them, and less than 2-3 weeks later the share plunge. They said they will regrow shareholder value, I can't see them doing any of that. Honesty I don't think they care.


----------



## juiceman (13 March 2007)

juiceman said:
			
		

> Anybody still interested in BDG
> Have a look at the course of sales for their last 2hrs Monday
> Look at the small parcels, IMO somebody is trying to push them down.
> Any thoughts?






Thanks for your thoughts; Dr Doom
Have a look at this mornings course of sales,
To me it appears that,any-time the sp settles or moves up,somebody just sells a small parcel [2oo ish shares] into it,and moves it down 0.5.
Agreed theres not much interest at the moment,and this has been going on for some time!
Has anybody seen this before in BDG or anyother share


----------



## cuttlefish (13 March 2007)

I think there's one or more robots selling small parcels - has been for a while -could be a few of them (could be both buying and selling haven't looked closely).  But I think thats why the depth gets crossed quite often.


----------



## juiceman (13 March 2007)

cuttlefish said:
			
		

> I think there's one or more robots selling small parcels - has been for a while -could be a few of them (could be both buying and selling haven't looked closely).  But I think thats why the depth gets crossed quite often.






I agree with your comment RE[ one or more robots]
Now the question;for what purpose?
Sell a few to buy more at cheaper price?
Could it be an entity that doesn't have to pay brokerage!


----------



## Dr Doom (13 March 2007)

I wouldn't read too much into it, theres nothing to suggest any corporate agenda here other than  - no news = sell down - now at 29c matches the sell-off low, so any fence sitters may be tempted to bail out now. I still hold my position as there are 2 possibilities - they find a decent seam & start mining or someone else takes them over. There is the remote possibility that they could become insolvent, but they still have a war chest of cash to go through first, and a milling facility ready to go.

At some stage also BDG will be excluded from the ASX indices as well, so further pressure from insto's selling


----------



## cuttlefish (13 March 2007)

juiceman said:
			
		

> I agree with your comment RE[ one or more robots]
> Now the question;for what purpose?
> Sell a few to buy more at cheaper price?
> Could it be an entity that doesn't have to pay brokerage!





Could be an institution doing some portfolio shuffling following the recent slump.  Agree with Dr, hard to read much into it.

Would think capitulation below .29 is unlikely (unless there were further negative announcements) but stranger things have happened - suspect there's still a few portfolio's and traders overweight in this, but you'd also think there'd be others seeing it as a buying opportunity. 

It always takes a while for negative sentiment to wash out of the system though.


----------



## Dr Doom (13 March 2007)

Freefall time - hope the parachute works  

Mmmmm....when to catch the knife?


----------



## Gundini (13 March 2007)

Dr Doom said:
			
		

> Freefall time - hope the parachute works
> 
> Mmmmm....when to catch the knife?




Better chuck this one in the bottom draw fellas...

One thing I will say for BDG, it never fails to dissapoint. In fact, that's all it does! What a dog of a stock... Woof!

Not holding, jumped ship before the last torpedo slammed into its guts!


----------



## Feng (15 March 2007)

ANN out, Merrill Lynch ceased to be a substantial holder, date of change is 26 Feb. 
But on BDG's web, http://www.bendigomining.com.au/our_investors/ownership.htm
As at 28 Feb, Black Rock still holding 9.3%.
Can somebody help to explain?


----------



## Dr Doom (15 March 2007)

Feng theres a delay between actual trade and notify to ASX and company I guess.


----------



## Feng (15 March 2007)

Dr Doom said:
			
		

> Feng theres a delay between actual trade and notify to ASX and company I guess.




Hello, Doom

It makes sense. thanks!


----------



## Techbuy (19 March 2007)

Finally some movement at BDG..
moved up $0.02 so far today.
I cannot find any news to do this but am still looking. 
Anyone know?


----------



## nizar (19 March 2007)

Techbuy said:
			
		

> Finally some movement at BDG..
> moved up $0.02 so far today.
> I cannot find any news to do this but am still looking.
> Anyone know?




Who wouldve thought one of last years pre-May high flyers could go to 28c. What a joke.


----------



## Techbuy (19 March 2007)

nizar said:
			
		

> Who wouldve thought one of last years pre-May high flyers could go to 28c. What a joke.




I see that as in the past, Thankfully I was not in on the crash but the infostructure is still there as well as the processing plant and with SBM owning a chunk and putting in their expertise to find the run of the gold reefs in the area BDG could get back up on its legs again maybe not to pre crash but at least heading upwards over the next year. They are still cashed up and can drill a lot of holes to find the gold. Lets hope they find more soon. I have been slowly buying when they are below $0.30 just topping up when I can afford to get some.


----------



## Dr Doom (19 March 2007)

Up 10% so far today on volume after the cryptic ann Friday. After touching 26c last week somebody thinks it might be time for a run? Still cheap but see how this test pans out?


----------



## Sean K (19 March 2007)

Dr Doom said:
			
		

> Up 10% so far today on volume after the cryptic ann Friday. After touching 26c last week somebody thinks it might be time for a run? Still cheap but see how this test pans out?



Odd ann, you're right. It was dated 5 March, posted 16 March. Why? Provided nothing.


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## Dr Doom (19 March 2007)

kennas said:
			
		

> Odd ann, you're right. It was dated 5 March, posted 16 March. Why? Provided nothing.




Yes Kennas, I think something big is going to happen, one way or the other  

Make or break this week maybe?


----------



## Techbuy (19 March 2007)

kennas said:
			
		

> Odd ann, you're right. It was dated 5 March, posted 16 March. Why? Provided nothing.




Most of the info in the last ann was the same as the open briefing interviews which you can read here:

SBM
http://www.corporatefile.com.au/documents/OB/Gwalia Deeps & Bendigo Strategy 16.02.07.pdf

and BDG here:
http://www.corporatefile.com.au/documents/OB/Update on Bendigo Strategy SEV5 PDF 23.02.07.pdf


----------



## Feng (20 March 2007)

all weird, ann and price went up without any news. 
now this morning, BDG is up, SBM is down. 
some big guys are playing with it.


----------



## Agentm (20 March 2007)

its called people taking a position..

its no secret whats going on!


----------



## Feng (20 March 2007)

Did someone notice that some buyers swallowed 0.31 parcels in the last minute or at least late afternoon? as comsec shows only about 31k at 0.31 on the seller side.(till 4:55pm today), it is lot different when I checked around 3pm today. 

Or maybe because somebody withdraw the sell orders after market?

I'd like to see if there is somebody pushing the sp up.

Please correct me if I am wrong.


----------



## The Mint Man (20 March 2007)

> I'd like to see if there is somebody pushing the sp up.



hmmm,. similar to people pushing it down over the last 2 weeks?


----------



## Dr Doom (20 March 2007)

Feng said:
			
		

> Did someone notice that some buyers swallowed 0.31 parcels in the last minute or at least late afternoon? as comsec shows only about 31k at 0.31 on the seller side.(till 4:55pm today), it is lot different when I checked around 3pm today.
> 
> Or maybe because somebody withdraw the sell orders after market?
> 
> ...




That's sorta how the market works - if more people want to buy shares than want to sell the price goes up. Why?. Probably because the share price has been oversold relative to assets & possibility of a good announcement soon. 

Actually what you have observed was buying pressure at the auction phase - someone didn't want to go home without their parcel of BDG shares.


----------



## rub92me (23 March 2007)

Climbing back to the mid thirties again. Hope for holders it's not a dead dog bounce. Maybe some news soon?


----------



## Feng (23 March 2007)

IMO, there will be no ann recently. maybe wait for the quarterly report.
Just check comsec. there is no bid at 0.34. 
Recent climbing maybe because of bendigo bank, then somebody noticed this one.

http://www.bendigoweekly.com/articles/3258/1/Bendigo-Bank-urged-to-reject-proposal/Page1.html

Bendigo Bank urged to reject proposal
By Anthony Radford
Bank merger
By ANTHONY RADFORD

SOME Bendigo community leaders have expressed concern over the proposed merger between the Bendigo Bank and Bank of Queensland, raising the ire of bank management.

The Bendigo Weekly was contacted by a series of business and community leaders this week, despite the lack of information surrounding the bid.

Member for Bendigo West Bob Cameron said the bank should put the local community first.

He said any “takeover” would be “throwing the baby out with the bath water”.

“The Bendigo Bank is a proud product of our city that has been nurtured and supported by our city’s residents and it is in the best interests of Bendigo that the institution remains locally controlled,” he said.

“Short-term guarantees for local jobs are just that – short term.”

He said the bank needed to put Bendigo’s interests before the interests of short-term private profit.

Mr Cameron’s comments raised the ire of Bendigo Bank managing director Rob Hunt

Local real estate agent Hunter Gill echoed that statement after, the Weekly understands, informal discussions with other like-minded people. He urged the board to reject the proposal.

“I think this will hurt Bendigo significantly over an extended period,” Mr Gill, who is a Bendigo Bank shareholder, said.

“The Bendigo Bank is a cultural statement.

“It would be a short-term benefit for shareholders, but in the end Bendigo would get dudded and I don’t think we should go on with it.”

Mr Gill said Bendigo was parochial and enjoyed supporting local success stories. “Bendigo Mining is now vulnerable for takeover because of recent poor performances,” he said.

“It is demoralising for business people in Bendigo to think that nothing really counts.”

Mr Hunt was quick to seize on the comments, especially those from Mr Cameron.

“We will run our assessment to our agenda, not anyone else’s,” Mr Hunt said.

“Some statements that have been made don’t recognise how The Bendigo goes about things, which is in a calm and professioal manner.

“It is too early for some of the speculation.”


----------



## Feng (26 March 2007)

here is some news:

http://bendigo.yourguide.com.au/det...lass=general&story_id=569244&category=general

Monday, 26 March 2007 	

Visit sparks theories

ST Barbara Mining has acquired exploration licences for land near Bendigo, and has returned to Bendigo Mining to re-examine the company's exploration data.

Managing director Ed Eshuys said yesterday the mining company, which owns 10per cent of Bendigo Mining's shares, had sent senior management personnel to Bendigo three weeks ago to examine data he had inspected in a visit to the Kangaroo Flat operation last month.

Mr Eshuys said the visit was a follow-up to his own tour of the operation last month. He said St Barbara had paid the latest call as a shareholder.
However, the company's renewed interest may provoke new questions from investors about the Melbourne-based gold miner's intentions for Bendigo Mining.

Bendigo Mining's stock climbed last week - back to the value St Barbara paid for its stake. Mr Eshuys has managed to quash speculation since he bought the stock in January for 34.6 cents that he would make a takeover bid for the Bendigo miner.

Bendigo Mining's shares have fallen recently, but had climbed back by the end of last week to 34.5cents. St Barbara's latest movements may renew speculation that it may wish to own more than a 10 per cent share in a company that owns outright the goldfield in Bendigo.

Mr Eshuys has repeatedly said St Barbara was looking for the next generation of gold mines.
However, eyebrows will be raised by news St Barbara has acquired exploration licences for land south-west of Bendigo.

Mr Eshuys said the land was not adjacent to Bendigo Mining's leases, but he was unable to access details of the location yesterday. He said the company acquired the licences two or three months ago and intended drilling after it had completed the next stage of assessment.Future drilling "was the whole purpose", he said.

The future of exploration in Victoria lay in ground covered with a layer of soil rather than in exposedrocks, which has been where gold has historically been discovered.

Newer technology has made looking deeper for gold, and under ground cover, a more viable proposition.


----------



## Dr Doom (26 March 2007)

Good data Feng. The big picture is starting to emerge I think. BDG up 40% in 6 trading days on good volume, and today's bid/ask action bullish with buyers filling the bids quickly. Also maybe the market is factoring an acquisition by SBM with current SP weakness. Ed's circling like a vulture here so maybe some action soon for both stocks?.


----------



## Feng (26 March 2007)

BDG is up, but SBM is down now. don't know why.

Hoping we can have some good news soon for both companies.


----------



## The Mint Man (27 March 2007)

BDG up 4% straight away.  bout time I made some money back


----------



## Feng (27 March 2007)

it is up 10% now. it is very good!


----------



## The Mint Man (27 March 2007)

Yes very good  Up 13% on close.
Hopefully it keeps going!
It was only last week I was looking at my shares shaking my head at BDG (more then what i had before)..... it was $0.27, now its $0.42.... thats over 55% in a little over a week.

Why the sudden surge though?

Do you think that there is good (or better then before) word of a takeover and in return the market is factoring this in?


----------



## The Mint Man (27 March 2007)

Just noticed the Ann from SBM today, they sold shares in SAR for $7.1 million. 
Do you think that this has anything to do with BDG going up?
Would this be a signal of SBM starting to raise funds for a takeover or maybe increasing their holding in BDG?

I was going to post SBM's ann but for some reason I can’t copy the text from the PDF so you’re going to have to view it yourself. What I will make mention of is where they (SBM) say that the sale of SAR "will provide funds to support the company's continued focus"
Now correct me if I’m wrong but I believe that BDG is one of their main focuses


----------



## Agentm (27 March 2007)

no, your right,, sbm will buy bdg.. 

no rocket science in this one!!


----------



## Dr Doom (27 March 2007)

SBM has been saying that they will increase reserves through exploration or investment. Last week announce JV, this week raising funds, next week ?. 
SBM know the geology of the Bendigo district (taking permits out on surrounding areas). I think they also know where to dig in the BDG mine to make it hugely profitable. And, BDG share price over the last week - expect possibly a joint announcement soon or 'becoming major shareholder' notices?. If the Aus Fin Review comes out with a rumour soon then it's game _on!_. They are usually close to the action??.


----------



## rub92me (28 March 2007)

The Mint Man said:


> It was only last week I was looking at my shares shaking my head at BDG (more then what i had before)..... it was $0.27, now its $0.42.... thats over 55% in a little over a week.
> 
> Why the sudden surge though?




Good question. Looks like even the ASX can't be bothered to enquire why the shareprice and the volume are rising from the dead... Maybe they'll get a speeding ticket after a 100% gain?


----------



## HRL (28 March 2007)

Agentm said:


> no, your right,, sbm will buy bdg..
> 
> no rocket science in this one!!




Exactly.  Was only a matter of time really.  SBM bought in a couple of months ago and started publicly banging heads immediately.  SBM are a small company with big plans and wouldn't have bothered with BDG unless they had plans for them.  BDG up another 10% already today... 289 trades and lots of volume in first 20mins!


----------



## Feng (28 March 2007)

rub92me said:


> Good question. Looks like even the ASX can't be bothered to enquire why the shareprice and the volume are rising from the dead... Maybe they'll get a speeding ticket after a 100% gain?




IMO, I dont think they will get the speeding ticket, as the volume is not that high, except yesterday, and the sp was downtrend for a long time. anyway, I could be wrong, if they get the ticket, will attract more people to notice this undervalued share and more buyers?


it is good to see another 10% jump. must be some thing happening.


----------



## The Mint Man (28 March 2007)

Feng said:


> it is good to see another 10% jump. must be some thing happening.



   I agree. It’s obvious now that something is going on and I wouldn’t be surprised if we see the ASX ask if there is anything that BDG isn’t telling the market…. But as you say, this wouldn’t hurt as it would only draw attention to BDG. 

cheers
edit:
Heres the vol over the last 5 days:
27 Mar 2007 0.420 13.51% 0.425 0.380 11,630,259 
26 Mar 2007 0.370 7.25% 0.380 0.355 6,945,783 
23 Mar 2007 0.345 9.52% 0.345 0.310 6,680,416 
22 Mar 2007 0.315 1.61% 0.320 0.305 1,761,367 
21 Mar 2007 0.310 0% 0.320 0.305 2,682,175 

Now I would say that the last few days have been a big enough increase for the ASX take some notice..... not to mention today


----------



## Agentm (28 March 2007)

only one thing is happening out there, SBM is going to buy BDG.


----------



## Feng (28 March 2007)

it is not good if both of them dont release the news to the market, as market doesnt have that sort of patience. if there is no release, we will see the sp will slide again, but maybe SBM is the only one topping up their stake? anyway, it still needs to release the stake change to the market.
IMO.


----------



## ZacR (28 March 2007)

Hey guys - new to investing and new to the forums... I bought some shares in BDG as my first ever trade about 2 months ago and have been watching the recent rise with newbie anticipation...
If a takeover from SBM was to occur - what sort of offer do you guys think would be made per share ??
Can someone tell me, on the asx site, the chart for BDG has a light blue line running across the $1.41 line - does this represent the price of the share when it first floated?
If not, where is a good place to find this information ?


----------



## Uncle Festivus (28 March 2007)

ZacR said:


> Hey guys - new to investing and new to the forums... I bought some shares in BDG as my first ever trade about 2 months ago and have been watching the recent rise with newbie anticipation...
> If a takeover from SBM was to occur - what sort of offer do you guys think would be made per share ??
> Can someone tell me, on the asx site, the chart for BDG has a light blue line running across the $1.41 line - does this represent the price of the share when it first floated?
> If not, where is a good place to find this information ?




Takeover price - no idea until a reserve gold oz's is determined.
ASX chart - no, it's the starting point for comparison with asx200.
First quoted - 19.12.95


----------



## The Mint Man (29 March 2007)

Well they got issued with a speeding ticket... see "_Response to ASX Query re Share Price_" which was released this morning. Cant copy it as it seems to be a faxed copy.
Of course they are saying 'I know nothing'  

cheers


----------



## Feng (29 March 2007)

The Mint Man said:


> Well they got issued with a speeding ticket... see "_Response to ASX Query re Share Price_" which was released this morning. Cant copy it as it seems to be a faxed copy.
> Of course they are saying 'I know nothing'
> 
> cheers




yes, they do get ticket, so the sp will have a break today.

anybody has any idea about yesterday's candle?


----------



## juiceman (1 April 2007)

BDG post speeding ticket.
The company sp has held well at 39.5 -40 [some-body was trying to push sp down all Thursday and Friday,ref to coments made on forum 12-13 March].
While I don't know why sp moved up so strongly,a few beers at the closest pub to the mine would probably hold a few clues,miners do talk.
Any-one live in Bendigo?
A few observations:
Last time the sp moved up like this, in Jan there moving averages and macd looked like crap".
This time the charts look very healthy.[ first time in 11 months]
Most of bdg's large stock holders are Banks or large insto's.
As for SBM taking BDG over, i don't think they could afford to pay the price, based on how fast the sp would move.
IMO bdg knows where the good stuff is based on historic records and there own drilling. They won't make the same mistake a second time, by messing around with the inferior grades and area's.
The next assey report has to be good, and new Director knows it!
Good luck to all those previously burn't by this company,the next month should be intresting.
P.S i have previously been smashed holding this stock, but have been buying a few of late, let's hope that Bendigo Town Hall doesn't collapse into one of their mine shafts


----------



## juiceman (1 April 2007)

ace42 said:


> Hi all - my first posting. Live in BGO and have invested heavily in BDG.
> 
> As a kid I grew up right in the centre of the richest gold field on earth and saw the decline of mining. Mine after mine shut but it wasn't because the gold had run out. Mines closed because of two factors: 1> The water problem 2> The fact that the price of gold was fixed at 16 pounds and Oz.
> 
> ...




Found this old post on the forum:Ace maybe you could pop on down to the local pup and ,turn your ear to any local knowledge. 
My how time changes things: look at some old posts, and you can feel the exitement in there words, re sp etc.
When i was very young my grandfather [who lived in the area] used to tell me the same stories about the gold left behind under the town. 
While it may have just been an old timers story to his grandson,would'nt it be good if it were true.


----------



## Feng (2 April 2007)

there are some news came up over the weekend.

http://www.theage.com.au/news/busin...and-outs/2007/04/01/1175366076844.html?page=2
Bendigo Mining shows it pays to keep eye on down and outs

Barry Fitzgerald
April 2, 2007
Page 1 of 2 | Single page
AdvertisementAdvertisement

IF YOU'RE looking for the best-performed mining stock in the past two weeks, go no further than Bendigo Mining.

Forgetting that the group is down near $1 billion on its market capitalisation a year ago, the run in the stock from its low two weeks ago of 26 ¢ to Friday's close of 40 ¢ is a 53 per cent gain.

So it can pay to keep an eye on the down and outs in the mining world.

There are a number of factors in the stock's recovery from absolutely distressed to simply distressed levels. Since the revelation earlier this year that ore grades at the group's Bendigo project had been seriously overestimated, the price of gold has been nice and strong.

And while Bendigo's current mining operation gets put on ice in coming weeks, no one doubts that there is still plenty of the yellow stuff to be mined at the historic goldfield.

Ed Eshuys at St Barbara thinks so. He is one of the most successful explorers around and he had St Babs plonk $17.2 million down for a 10 per cent stake in Bendigo Mining.

Since then, St Babs has pulled in $7.1 million from the sale of a stake in Saracen Mineral Holdings, prompting some to suggest it was getting ready to make its stake in Bendigo Mining more meaningful.

But the more likely explanation for the share-price recovery in Bendigo Mining was the realisation among sharper traders that when it got 26 ¢ a share, the Bendigo project "inside" Bendigo Mining was effectively being valued at no more than $25 million.

That was because Bendigo Mining continues to hold cash of about $70 million as well as plant, property and equipment of about $35 million against a total market capitalisation on Friday's close of $128 million.

While many remain spooked about the overestimation of ore grade and its impact on the $350 million redevelopment of the Bendigo field, a growing band, including Eshuys, still believe that the old goldfield has the potential to become a long-life, low-cost operation.

The recasting of Bendigo Mining as an exploration company comes as the new management team, headed by chief executive Rod Hanson, has been chasing up potential.

The focus is now on the Garden Gully and North Sheepshead reefs, which should always have been the focus of the field's redevelopment because of their bigger size and grade potential.

Borrowing from the oldtimers, laminated quartz veins are being used as pathfinders to the reefs that, when encountered, will be assessed for their grade potential by visual inspection more than anything else, replacing the dark box of grade "factoring" that led Bendigo Mining's recent woes.
By the end of the year the group hopes to be "infill" drilling reefs at Garden Gully before the hungry plant on surface is fired up again.


----------



## Feng (2 April 2007)

Here is another one:

http://www.theaustralian.news.com.au/story/0,20867,21486494-643,00.html


Bendigo not out of the woods

    * Andrew Trounson
    * April 02, 2007

AFTER being banished to the wilderness, Bendigo Mining - along with its decade-old dream of resurrecting gold mining beneath the Victorian city of Bendigo - appears to be back on investors' radar screens.
The stock posted a strong rally last week.

Investors will have their fingers crossed on new drill results due to be released when Bendigo reports quarterly figures on April 26.

The market remains wary after January's shock news that lower-than-expected ore grades would force the company to shut down production barely three months after starting.

Much of the recent rally is attributed to disappointed US fund manager BlackRock finally completing the sale of most, if not all, of its near 12 per cent shareholding.

The BlackRock selling had taken Bendigo shares down to just 26c by mid-March, its lowest level since 1992, valuing the miner at $129 million.

That is less than the value of plant, equipment and cash for a stock that a year ago was valued at more than $1 billion.

Since then the share price has risen by 50 per cent, hitting a high of 47.5c last week before closing on Friday at 40c.

Watching with interest is St Barbara Mines chief executive Ed Eshuys. Following Bendigo's share collapse in January, St Barbara opportunistically forked out $17.2 million to snare a 10 per cent stake, paying an average 34.8c a share.

Mr Eshuys, who has criticised the exploration approach at Bendigo, has since had a first-hand look over the operation.

There has been no recent substantial shareholder notice from St Barbara, and Mr Eshuys appears to be sitting tight for the time being.


----------



## Feng (2 April 2007)

If we can see SBM is toping up their stake, will see another sp jump?

Not sure when we can have some stake update after last two weeks move.


----------



## juiceman (26 April 2007)

Good notice this morning.
Have a look


----------



## Sean K (26 April 2007)

juiceman said:


> Good notice this morning.
> Have a look



Juiceman, it's nice if people share information directly on the forum instead of just requesting people to 'check this out'. Can you please provide us a little info here, so we know whether it's worth checking out or not. Thanks! kennas


----------



## The Mint Man (26 April 2007)

here ya go kennas,
I dont have the time to read the whole thing ATM but there are the main points, please see your Brokers website or ASX for more info:


> Key Points
> •Encouraging drill results from the Garden Gully line.
> •Testing of an exploration ‘hot spot’ to commence.
> •Production of 12,822 oz at an improved grade of 6.8 g/t.
> •Business restructure completed.




cheers


----------



## Feng (26 April 2007)

Looks like the market is not so encouraged by this report. sp is dropping atm.
any thoughts?


----------



## juiceman (26 April 2007)

kennas said:


> Juiceman, it's nice if people share information directly on the forum instead of just requesting people to 'check this out'. Can you please provide us a little info here, so we know whether it's worth checking out or not. Thanks! kennas




AT time of posting; i was very busy, market had just opened,just thought i would bring it to members attention , apologies Juiceman.
While the ann was hardly exciting, i feel it was acurate and honest (silly me ) which does make a change for that company.
One point worth concideration,is that while not being in production, and moving to-ward target zones,they pulled 11000 oz of gold out of the ground, what might happen to sp if they hit what they say is there?


----------



## Agentm (22 May 2007)

wake up

16:27:290.33006,240,8092,059,466.97SPXT

somethings happening in the Bendigo camp..

anyone care to guess? if its not obvious enough..


----------



## The Mint Man (22 May 2007)

sorry mate... your going to have to elaborate (hehe that rhymes)
Im not making any sense of the numbers you posted... where are these from?

Cheers


----------



## Broadside (22 May 2007)

The Mint Man said:


> sorry mate... your going to have to elaborate (hehe that rhymes)
> Im not making any sense of the numbers you posted... where are these from?
> 
> Cheers




a cross trade, look out for substantial shareholder notice soon

might be a chance to recoup old losses on this dog if there is a hostile takeover


----------



## The Mint Man (22 May 2007)

Broadside said:


> a cross trade, look out for substantial shareholder notice soon
> 
> might be a chance to recoup old losses on this dog if there is a hostile takeover



about bloody time! 
I was only talking about selling out today to invest in something else... but one of my work mates told me to hang on as it would go up as soon as I sold it and I would kick myself....so I thought,'ok Ill give it till the end of june'. Hopefully this is what I've been waiting for.


----------



## Agentm (22 May 2007)

absolutely dont sell this dog!!!

just wait and let the whole thing happen first.. you dont invest in BGD for its future, it will make some other company its fortune..

lets see if they allow it open!! interesting days ahead i see..

sorry about the figures

time 16:27:29    0.3300     6,240,809 shares    $2,059,466.97 SPXT


----------



## The Mint Man (22 May 2007)

This would have to be a first for ASF. 


Agentm said:


> absolutely dont sell this dog!!!



haha 
hold on to your dog people, its about to run

EDIT: just noticed that BDG's Vol today of 10 million is way over its average of late. Anything in that you recon?


----------



## sam76 (22 May 2007)

what do you think are the chances that it's SBM that's launching a takeover over BDG?  (man this 100 character thing is hard core)


----------



## Uncle Festivus (22 May 2007)

sam76 said:


> what do you think are the chances that it's SBM that's launching a takeover over BDG?  (man this 100 character thing is hard core)




Mmmmm..... and SBM just raised $100mil. 
SBM cash on hand = $51m
BDG market cap = $169m

Shortfall?

SBM previous entry ave 35c
BDG close today 34c
Xtrade @ 33c

Ed has an eye for distressed assets going for a song & then revitalises them.


----------



## Agentm (22 May 2007)

sam76 said:


> what do you think are the chances that it's SBM that's launching a takeover over BDG? (man this 100 character thing is hard core)





i dont think sbm have anything else on their mind other than taking over entirely BDG..

lets see what happens


----------



## Crash (22 May 2007)

22-05-2007 04:27 PM $0.330 6240809 $2,059,466.970 Special Crossing Trade,Crossed 
22-05-2007 04:10 PM $0.340 623 $211.820   
22-05-2007 04:10 PM $0.340 1308 $444.720   
22-05-2007 04:10 PM $0.340 1860 $632.400   
22-05-2007 04:10 PM $0.340 9235 $3,139.900   
22-05-2007 04:10 PM $0.340 19000 $6,460.000   
22-05-2007 04:10 PM $0.340 3864 $1,313.760   
22-05-2007 04:10 PM $0.340 17901 $6,086.340   
22-05-2007 04:10 PM $0.340 12100 $4,114.000   
22-05-2007 04:10 PM $0.340 37900 $12,886.000 

Last 10 Trades.  So how can this happen?  
Who do the shares cross from/to?  
How many shares would SBM need in takeover mode?


----------



## $20shoes (23 May 2007)

Please look at the price spread as well!!! Very important. 
4M shares traded during open hours (which is huge compared to recent activity), PLUS a breach of a critical support line at 35c, and the candle spread was unbelievably narrow and even finished off its lows. This was a staged trade to benefit a big player. We've seen bigger red candles than this with 1M shares or less traded. 

Someone bought a parcel on market and then off market to get a stake in BDG.


----------



## Feng (23 May 2007)

http://www.mineweb.net/mineweb/view/mineweb/en/page34?oid=21246&sn=Detail


Bendigo looks to old richer gold workings in its recovery process

After its problems of last year, Bendigo Mining is taking a new approach to exploration by concentrating on extensions to the older higher grade parts of the mining complex.
Author: Ross Louthean
Posted:  Tuesday , 22 May 2007

PERTH - 

A new exploration approach and a first-time opportunity to test some of the richest parts of the gold mine running beneath the historic Bendigo field in Victoria should turn around its fortunes.

This was the view of Bendigo Mining Ltd's managing director Rod Hanson in an address today to Paydirt's Gold Conference in Perth.

Hanson said the company had learned its lessons from late last year of not managing well, its geological risk for the field. That proved a headline issue that ripped millions of dollars of the company's share market capitalisation, brought about sweeping management changes (including promoting Hanson to head the company) and even raised questions about other companies operating in Victoria.

Today Hanson said a dramatically different approach has been taken to meet challenges of charting a new mining and exploration course along the 10 kilometre long, three kilometre wide Bendigo field which has so far produced 22 million ounces of gold.

This includes a focus on defined stratigraphic or rock units rather than theoretical geological and mineralised ribbons. This, he said was "improving our understanding of where to drill."

"We have moved away from the Deborah and Sheepshead lines and have elected to explore beneath the historically richer hot spots on Garden Gully and New Chum, which are the source of some 70% of the field's historic gold production (Sheepshead and Deborah were readily accessed from the company's Swan decline mine on the outskirts of the city, whereas New Chum for instance is in the heart of modern Bendigo city).

"These higher grade, more productive lines have greater potential to host economic zones of mineralisation than some of the lesser zones subject to the geological risk issues of last year.

"Results to date from the southern Garden Gully zone are consistent with historic workings above the current drill targets and the mineralisation is much stronger than anything encountered at Sheepshead and Deborah.

"The major change in exploration focus on the field has been supported by a significant amount of completed mine development and this provides locations for Garden Gully and New Chum to be tested from underground."

Hanson said the new approach would increase discovery rates for new gold reefs as laminated quartz veins and anticline axes could be intersected in the stratigraphic units.

"The recent Grenfell Reef for example was identified by just three drill holes, meaning less drill metres to define targets and lower discovery costs," he said.

"The approach also allows our extensive knowledge of the field to be better applied to determining reef shapes, range, types and variability."

Bendigo Mining has a $A10 million ($US8.3 M) exploration budget for the field and has assigned four underground drill rigs to generate more than 50,000 metres of new drill core as it looks to lift discovery and development and production options.


----------



## The Mint Man (23 May 2007)

well not much seems to be happening on the BDG front today. whats going on?
Yet another talk of takeover with no delivery.


----------



## Agentm (23 May 2007)

its happening.. 

another 3 million shares went across XT.. 


dont be too concerned, SBM are doing it the way they want to..


----------



## Gundini (23 May 2007)

Did someone kick the dog? It actually moved, I kid you not!

But how far will it run? On past experience, it won't go far away, it always returns home... 

Unless someone entices it with some news


----------



## BIG BWACULL (23 May 2007)

Gundini said:


> Did someone kick the dog? It actually moved, I kid you not!
> 
> But how far will it run? On past experience, it won't go far away, it always returns home...
> 
> Unless someone entices it with some news



Hope it returns to its old home $2  and not its current home Nearly 7 million shares on the up


----------



## Feng (23 May 2007)

Paydirt Gold Conference Presentation by BDG

http://www.acnnewswire.net/press/en/36728/BENDIGO-MINING-LIMITED.html


----------



## The Mint Man (23 May 2007)

Agentm said:


> its happening..
> 
> another 3 million shares went across XT..
> 
> ...




Fair enough. But surely there would have to be some sort of official notice soon? 
How far off do you think it is?

EDIT: by the way wheres chicken? you think he would be right onto this!


----------



## DAZT49 (23 May 2007)

From  my calcs ( I failed 4th form) according to th BDG wbsite there are roughly 495,500,000 shares.
The top 20 share owners own about 51% of the stock.
To gain even 10% of the company involves purchasing 50,000,000 shares.
Are you sure there is a takeover in the air??


----------



## The Mint Man (23 May 2007)

DAZT49 said:


> Are you sure there is a takeover in the air??



No Im not... heard it all before but SBM do own 10% already so I imagine that would make it a whole lot easier.


----------



## Feng (24 May 2007)

The Mint Man said:


> Fair enough. But surely there would have to be some sort of official notice soon?
> How far off do you think it is?
> 
> EDIT: by the way wheres chicken? you think he would be right onto this!




Let's hope the sp will go up soon.
The only thing I noticed in these few days is the volume is up a bit. Maybe something is going on.
but just two months ago, the sp hit 47c high from 26c low in 7 trading days and the volume was huge as well, there was no official notice except one speeding ticket. So....anyway let's hope again.


----------



## $20shoes (24 May 2007)

Feng, 
the price has been capped for a long time now. It was also supported at 35c. 
There has been some level of accumulation - if you remove volume out of the equation for all trades below 35c since 9th Jan (to remove the ultrahigh volume that set the floor back then), you are still left with approx 229M shares that have been exchanged in a very tight trading range between 36c and 44c.

The breach of 35c on big volume should have posted as a big red candle after such a tight trading range. 

This is an unsubstantiated theory - one or more entities have been accumulating on behalf of an interested party to prevent the 5% ownership notification rule from applying (we don't want to spark interest in the stock while we're trying to buy at low prices). 

We are now seeing the transfer of these shares to the interested party. I believe an on-market buy up has also occurred, prior to a market announcement. 

BDG have no other news apart from what is known - drilling the high probability lines in May.

Just a theory


----------



## Crash (24 May 2007)

I like your theory, I have topped up some more because I believe whether it is now with a takeover or down the track once the gold starts being trucked out, this will come good.

DYOR


----------



## Broadside (24 May 2007)

$20shoes said:


> Feng,
> the price has been capped for a long time now. It was also supported at 35c.
> There has been some level of accumulation - if you remove volume out of the equation for all trades below 35c since 9th Jan (to remove the ultrahigh volume that set the floor back then), you are still left with approx 229M shares that have been exchanged in a very tight trading range between 36c and 44c.
> 
> ...




stokdog posted this on hc, hope he doesn't mind me putting it here....it is consistent with your line of thought:



*Ive said it before and i'll say it again. I think JP Morgan have an agenda with sbm and i wouldnt be suprised if the 2 large XT trade parcels relate to JP Morgan assisting SBM in their attempts to manipulate and manouevre the shares into SBM and RCF hands which will leave JP Morgan with a larger stake in a merged entity.

I speak of these two trades especially.


22/05/2007 04:27:29 0.33 6240809 20594669.7 XTSPOS
23/05/2007 12:15:47 0.33 3000000 990000.00 XT 

*


----------



## $20shoes (24 May 2007)

Yes ty Broadside.
I did notice Stockdog's comments on hc. 

We're playing guessing games , but it does seem like a logical theory. We'll wait and see.


----------



## Feng (24 May 2007)

$20shoes said:


> Feng,
> the price has been capped for a long time now. It was also supported at 35c.
> There has been some level of accumulation - if you remove volume out of the equation for all trades below 35c since 9th Jan (to remove the ultrahigh volume that set the floor back then), you are still left with approx 229M shares that have been exchanged in a very tight trading range between 36c and 44c.
> 
> ...








Broadside said:


> stokdog posted this on hc, hope he doesn't mind me putting it here....it is consistent with your line of thought:
> 
> 
> 
> ...




Like the thoughts, helps our hope for the sp. Nearly want to give up. 
Looks the company is getting better, however it is not convinced by the sp.

Forgive my stupid question, is it possible some tax issues involved in these two cross trades, just change the left hand to the right hand?
thanks!


----------



## Feng (24 May 2007)

Announcement is out.
Change in substantial holding, JP is off loading the track.
Can find 6m cross trade on the list as a sell on 22nd May, but can not find 3m on 23rd. 
Also noticed some transfer out transactions on the list, does somebody have any idea about it?


----------



## Agentm (25 May 2007)

Feng said:


> Announcement is out.
> Change in substantial holding, JP is off loading the track.
> Can find 6m cross trade on the list as a sell on 22nd May, but can not find 3m on 23rd.
> Also noticed some transfer out transactions on the list, does somebody have any idea about it?





i would say the positioning of the funds are falling into place, and i certainly say the action at BDG is everything to do with SMB.

lots of time is up their sleeve, and BDG has nowhere to go. all we can do is watch how its done, watch who makes the biggest return for their positioning, and learn how takeovers are done and sometimes go wrong..


----------



## juiceman (27 May 2007)

Feng said:


> Announcement is out.
> Change in substantial holding, JP is off loading the track.
> Can find 6m cross trade on the list as a sell on 22nd May, but can not find 3m on 23rd.
> Also noticed some transfer out transactions on the list, does somebody have any idea about it?




Sorry Feng can"t answer your question re; transfer out transactions.
This may help though, on ABC Business this morning 
JP MORGAN listed (amoung others ) Bendigo Gold as a possible take over target


----------



## Feng (27 May 2007)

juiceman said:


> Sorry Feng can"t answer your question re; transfer out transactions.
> This may help though, on ABC Business this morning
> JP MORGAN listed (amoung others ) Bendigo Gold as a possible take over target




thanksn juiceman.
tried to find any link about this news, but found nothing. Can you post the link?

We may need patience to wait for the take over.

Also noticed the ownership on BDG's website has been already updated, but it is as at 30th, April, 2007. The top 20 holders are still holding about 51%. Because don't have the old list to compare, can not find out any clue about JP's 2% change goes to which party. 

yeah, we are playing guessing game, only time will tell.


----------



## juiceman (27 May 2007)

Feng said:


> thanksn juiceman.
> tried to find any link about this news, but found nothing. Can you post the link?
> 
> We may need patience to wait for the take over.
> ...




There is no link to post
I saw it on the TV this morning  10 am ABC business program.
They were interviewing one of JP MORGANS analyst"s and Bendigo Mining was 1 of 10 company"s listed by them as possible takeover target"s.
Hope that help"s


----------



## Feng (29 May 2007)

juiceman said:


> There is no link to post
> I saw it on the TV this morning  10 am ABC business program.
> They were interviewing one of JP MORGANS analyst"s and Bendigo Mining was 1 of 10 company"s listed by them as possible takeover target"s.
> Hope that help"s




hi, thanks, Juiceman.
Today we got another announcement from the company.
Now State Teachers Retirement System of Ohio is holding 5.399%, very interested to see another party comes in. 
BDG's website has already been updated, they are pretty quick.
Top 20 holders are still holding 51.16%.


----------



## Techbuy (29 May 2007)

Does anyone know if the $100 million being raised by SBM is going towards a full takeover of BDG?
SBM posted this today
______________________________________________
An Extraordinary General Meeting of the Company is
being convened for Tuesday 26 June 2007 at
10:00am(AEST) at The Westin, 205 Collins Street
Melbourne Victoria, to consider the ratification of the
A$100 million Convertible Note issue announced on 15
May 2007.
______________________________________________


----------



## Agentm (29 May 2007)

not sure where they will spend it,  there is amazing stuff going on with the cross trades every day, been watching it for a week or so now.. 

different players are lining up, many have named BDG as a takeover target, and not many doubt ed will strike soon.

been holding a handy position on this one, i feel its going to happen before end june.. BDG has nothing in its future, and the directors are basically winging it.. and SBM will find the gold..

enjoying how it pans out, and learning who does what and when...


----------



## Feng (8 June 2007)

Just had a look at the bdg's website, found the slight changes on the ownership. 
The percentage has been increased from 51.16% to 52.18%. Somebody is topping up and somebody is off loading.
Anybody has any thoughts?


----------



## The Mint Man (15 June 2007)

Some good volume on BDG today, anyone got any idea why? someone topping up again? maybe still positioning to take over?

Todays Vol was 19,703,004. The average for the last 5 trading sessions was just 3,256,211.
In fact todays Volume was more than the last 5 trading days put together, that number being 16,281,059.

Cheers


----------



## juiceman (15 June 2007)

Somebody thinks bdg has struck gold
Very unusual buying just before close.
They were pushed from .31 to .33 for no reason.

Volume average at 2.5 mil for day,then multiple trades to 4 pm 6 mil
After market large lumps at 2.4 mil 2.6 mil etc etc 
Last trade at 4.50 pm?
Total for day 19.7 mil


----------



## juiceman (15 June 2007)

Last trade at 5.01 pm total for day 20.1 mil
Something fishy going on here late friday after market
Maybee they struck fish (Friday get it )
Any thoughts?


----------



## Agentm (15 June 2007)

trying to understand the codes,  what does LTXT and SXXT stand for in terms of what the codes mean?

the cross trades have been running hot all day, but the finish was spectacular.. maybe its the time sbm made its move?


----------



## juiceman (15 June 2007)

Don't think it's cross trades because of the individual trades.
Too many of them, and they took out all the sellers.
Last trade now at 5.16 pm  tfd 20.33 mil


----------



## Feng (15 June 2007)

Just checked the volume at 19.00, the volume now is about 21.12m.
as I noticed (not 100% sure), last 10 minutes to close, volume was increased from 3m to 6m, auction time, from 6m to 13m, then after, from 13m to 18m, to 20m, to 21m. cross trade happened three weeks ago. 
Just from left hand to right hand, maybe tax purpose, IMO.
Although we have some substantial shareholders change notices, but check all the top shareholders list, not much change at all.
Hope some good things are happening,but.....


----------



## Feng (21 June 2007)

Just got it from internet:

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=48B2A141-17A4-1130-F5EA243D8DB4CD2D


Rudi On Thursday
FN Arena News - June 20 2007

One of the most frustrating experiences for an investor is making the correct call and still losing money.

And yet, this is not as rare as one might assume. Imagine those shareholders in fledgling uranium producer Paladin Resources (PDN) who saw the shares rise beyond $10 in February only to fall back to below $8 and subsequently rise back to above $10 in April.

Spot uranium stood at US$75/lb and US$95/lb respectively in February and April. Anyone holding on to their shares based on the expectation that uranium prices would go up further has been correct, yet while spot uranium surged to US$135-138/lb Paladin shares dived to near $8 again.

This week saw the shares resume their upward path and surge past $9. According to some market commentators renewed takeover speculation saw some hot money rushing back into the sector.

The first event that got the market excited was a US$2.5bn offer -in cash- by French government controlled Areva for Africa focused uranium explorer UraMin. UraMin has assets in several African countries as well as in Canada. Its main project is the Trekkopje uranium project in Namibia, a country with which investors in Paladin are all too well familiar with.

The main characteristics of this story are that UraMin is still but an explorer who hopes to have a bankable feasibility study ready by year end for its Namibian project plus the fact that Areva is willing to pay in hard, cold cash.

The second event was the news that Russian billionaire Vladimir Potanin, of Norilsk Nickel fame, is joining the race for uranium assets across the globe in cooperation with the Russian Federal Atomic Energy Agency. Both partners have reportedly already discovered some interesting opportunities in Uzbekistan and throughout Africa.

So it is takeover speculation rather than the prospect of uranium prices possibly reaching as high as US$200/lb over the next twelve months that is currently driving share prices for the likes of Paladin and Energy Resources of Australia (ERA). The latter is obviously subject to speculation of Rio Tinto (RIO) mopping up minority shareholders instead of selling its subsidiary to a third party.

Merrill Lynch analysts suggested a similar scenario last week when they reviewed the gold sector stating it wouldn’t be long before major league gold producers would start chasing second and third tier producers with low cost reserves.

This week gold specialists at GSJB Were sort of translated the uranium theme into the gold sector. GSJB Were has long forecast that spot gold would reach US$850/oz and the broker has now taken the view that this will still happen, the process has simply been delayed during the first six months of this year.

But shares of gold producers will not necessarily move up in accordance with the gold price, GSJBW believes. Similar to Merrill Lynch, GSJBW has noted that many gold producers are suffering from rising costs and this will eat into their margins.

The broker therefore advises investors should look out for producers who will enjoy rising volumes while keeping cash costs down. This week’s report suggests the broker’s preference is for Avoca Resources (AVO) and Kingsgate Consolidated (KCN).

Other stocks that should perform well, the broker believes, are Newcrest Mining (NCM), Lihir Gold (LGL), Sino Gold (SGX), AngloGold Ashanti (AGG) and Perseverance (PSV), with a special mentioning for Bendigo Mining (BDG).

The analysts believe that at $0.32 shares of the troubled Victorian gold miner have fallen low enough to start looking attractive again (sort of). With the extra remark that risks are still high, GSJBW believes Bendigo is likely to produce a positive news flow over the coming 6-9 months.

While this may have a positive impact on the Bendigo share price, the broker maintains it is rather unlikely for the company to establish a JORC reserve estimate in the near term. Currently, Bendigo Mining’s base valuation is calculated as $0.40 but this could rise to $1 under a positive scenario.

One of the questions that have yet to be answered is whether the same principles apply for commodities whose prices are expected to trend down from here onwards.

Anyone a bet?


Till next week!


Your happy as ever editor,


Rudi Filapek-Vandyck
(as always supported by the Fab Three: Greg, Terry and Chris)


----------



## juiceman (22 June 2007)

Techbuy said:


> Does anyone know if the $100 million being raised by SBM is going towards a full takeover of BDG?
> SBM posted this today
> ______________________________________________
> An Extraordinary General Meeting of the Company is
> ...




Re the above XGM 
Is that the type of forum where their intentions, if any with bdg would be stated, or would that be a bit simple (ie what they want the 100 mil for?
Any thoughts on this :


----------



## juiceman (22 June 2007)

Just a thought
Larger than normal volume in the last week with some large lumps after market on Friday (mainley put down to end of yr tax issues by ourselves)
Maybee a good time for smoke and mirrors
With the XGM next week it may pay to keep an eye on volume


----------



## juiceman (25 June 2007)

JP Morgan sells aprox 5.6 mil shares in the last month (a bit at a time)
GSJBW UPS  upgrades bdg to hold from sell


----------



## Feng (25 June 2007)

juiceman said:


> GSJBW UPS  upgrades bdg to hold from sell




hi, Juiceman, where did you get this info from?

Just checked the bdg's web, they updated the ownership this morning. 
BUT There is NO percentage change to the top 20 holders.


----------



## juiceman (25 June 2007)

Feng said:


> hi, Juiceman, where did you get this info from?
> 
> Just checked the bdg's web, they updated the ownership this morning.
> BUT There is NO percentage change to the top 20 holders.




From andrew west;  west online
ASX Announcements  1 dated 20 06  the other dated  22 06
cheers
just hit on bdg with your on-line broker and it latest ann's should come up


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## Feng (25 June 2007)

juiceman said:


> From andrew west;  west online
> ASX Announcements  1 dated 20 06  the other dated  22 06
> cheers
> just hit on bdg with your on-line broker and it latest ann's should come up




thanks for your reply.
i am using comsec atm, I do get the ann, looks I missed the one dated 20 06.

Yes, according to the announcement, JP is unloading the shares, but just checked BDG's website, there is no ownership percentage change to the top 20 holders, although the web also says JP is reducing the stake, so where the percentage goes?


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## Sean K (26 June 2007)

I think BDG could be generally under pressure this week due to tax loss selling. It's one of the few stocks that has really suffered and one of the few options people might have to limit tax in such a bullish year. If this was the case then a tactic could be to short the sucker this week, or, if you're a long only player you might find it cheap. DYOR blah blah 

(not holding, might be shorting)


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## juiceman (26 June 2007)

kennas said:


> I think BDG could be generally under pressure this week due to tax loss selling. It's one of the few stocks that has really suffered and one of the few options people might have to limit tax in such a bullish year. If this was the case then a tactic could be to short the sucker this week, or, if you're a long only player you might find it cheap. DYOR blah blah
> 
> (not holding, might be shorting)




While i agree with your thoughts re time of year tax loss's etc
I feel it would be a bit dangerous,only 4 day's to go inc to-day
Sbm xgm today 10am (takeover on or not on) and every-body thinking the same way re end of yr
Risk reward to fine imo
A better play would be inl long at .15 for the same time reasons as above
I just had to throw the last bit in


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## Uncle Festivus (26 June 2007)

Not sure I would short it either. I figure there may be a few stragglers hoping for a last minute sp surge but mostly anyone who wanted out is probably out by now. At 30c SBM is loosing a bit, and is probably close to just the valuation of plant, equipment, and small resource, so I am expecting things to start moving as soon as next week maybe. 
Taking off my rose coloured glasses now


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## OK2 (23 July 2007)

BDG up today almost 10% and sitting around .35SP 

The only news I can see is JPMorgan noting a change in substantial holding, goes a little against the trend of what you would expect but then again who ever understands what plays are taking place in the background! 

Anyone care to speculate?


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## juiceman (23 July 2007)

With J P Morgan selling of late, it would be good to know who might be buying (SBM would be good, hope it's not the teachers union in the US.
Good morning volume, on what has not been a good day for the market.
Maybe it's time for a beer at the local pub in Bendigo


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## SevenFX (23 July 2007)

BDG to Finish with nice Close UP 12.5%

Few suckers rallies b4, so perhaps watch some b4 get 2Xcited.

Perhaps all wondering where the bottom is....?????


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## badmarty (23 July 2007)

I dont get it either, jumped to $0.36 or 12.5% without any news with volume ofover 6,000,000 wonder whats going on behind the scenes and who's buying?


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## Uncle Festivus (23 July 2007)

This is all a bit out of the normal day to day trading stats. You just have to know who is advising who & who owns what shares & who is selling down shares & who is accumulating shares. Put it this way, this thread topic may be redundant soon, or will be discussed under another companies thread in the future as one of their own mines? The frenzy of consolidation continues.......


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## Uncle Festivus (30 July 2007)

Exploration 
Exploration this quarter increased the number of discovered reefs on Garden Gully by two to four. The two new reefs (Grenfell East and Grainger reefs) appear low grade on the sections tested so far, but have large tonnage potential. Drilling on Garden Gully increased the length of the Gill reef, discovered in  the March quarter, to over 200 metres.  Importantly, drill results have lifted the estimated grade of the reef into the 6 – 10 g/t gold range. 

The first New Chum drill section commenced into the southern end of the  line testing for the continuation of one of Bendigo’s largest historic reefs: the Shenandoah Consolidated reef.  Exploration in the September quarter will focus on three target areas on Garden Gully and one target area at the southern end of the New Chum line. 

*Production  
Gold production of 5,561 oz was better than forecast.  The Kangaroo Flat mine ceased production in May. 

Corporate  Cash in bank as at 30 June 2007 increased to $71.8 million ($68.8 million last quarter).  

Gold sales of 10,469 oz at an average price of A$807/oz were achieved.*


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## Sean K (30 July 2007)

Up to 36 with $US looking shakier than ever long term. 

Anyone bottom picking? 

My fingers are out of my bottom until it breaks 40, at least.


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## BIG BWACULL (30 July 2007)

That announcement  has given my dog a real swift boot cmon, Must be that new CHUM drill   Afternoon Rally up 14% with 5million traded


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## Uncle Festivus (5 September 2007)

State Teachers are Smart teachers?


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## The Mint Man (11 September 2007)

That is very interesting. Quite a chunk there! I also noticed that they made it on 7 news yesterday as one of the stocks that went up, usually a spot for the 'more popular' stocks.... dont know how I should be reading into that but still a surprise.

Cheers


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## Uncle Festivus (11 September 2007)

The Mint Man said:


> That is very interesting. Quite a chunk there! I also noticed that they made it on 7 news yesterday as one of the stocks that went up, usually a spot for the 'more popular' stocks.... dont know how I should be reading into that but still a surprise.
> 
> Cheers



You could speculate that SBM has also been topping up at these prices too. The chart looks better this time with the steady up trend from the higher low from the March low & OBV solid uptrend. Weak hands gone now, only genuine investors getting set?


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## padd (14 September 2007)

Uncle Festivus said:


> You could speculate that SBM has also been topping up at these prices too. The chart looks better this time with the steady up trend from the higher low from the March low & OBV solid uptrend. Weak hands gone now, only genuine investors getting set?





I doubt it. JPMorgan has been selling down it's stake for quite some time. I see this bottoming continuing for a while until they have completly sold their stake down, or until a positive announcement re: the recommencement of mining.
No need to hold onto your hats, you'll be standing still for quite a while.


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## Uncle Festivus (14 September 2007)

padd said:


> I doubt it. JPMorgan has been selling down it's stake for quite some time. I see this bottoming continuing for a while until they have completly sold their stake down, or until a positive announcement re: the recommencement of mining.
> No need to hold onto your hats, you'll be standing still for quite a while.




True, but who are they selling to? If it is a straight out sale they would be taking a loss, so my guess is that they are reducing direct exposure at the same time as keeping it on the indirect books via SBM, and the teachers mob are happy accumulating at these levels too.


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## padd (17 September 2007)

Yep, can't disagree with any of that.
Any thoughts about price direction. I can only see positive developments from this point on, with the only negatives being the length of time they take to give an indication of their resource base or dramatically start burning cash reserves.
I am very tentative about investing in BDG again as I brought in at the 80c mark, when they made the institutional placement, and then made the announcement re; ceasing production. Not nice at all and will be hard to get serious investors on side again after a stunt like that.


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## The Mint Man (17 September 2007)

padd said:


> Yep, can't disagree with any of that.
> Any thoughts about price direction. I can only see positive developments from this point on, with the only negatives being the length of time they take to give an indication of their resource base or dramatically start burning cash reserves.
> I am very tentative about investing in BDG again as I brought in at the 80c mark, when they made the institutional placement, and then made the announcement re; ceasing production. Not nice at all and will be hard to get serious investors on side again after a stunt like that.



I know how you feel padd.... I bought at that level too but still holding See what happens


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## padd (25 October 2007)

Todays Ann. is reasonably positive.

However it's hard to be positive about any announcements from BDG. They have made fools of many investors, small and large.
First time was huge miscalculation in resources. 
Second was capital raising followed by ceasing production 
Third time lucky?????? 

Is it a light at the end of the tunnel or another train coming?

Plenty of cash in the bank with some reasonable exploration results.
Still no indication of resources. Taking their time or just holding off????

However I'm still dissappointed on the targets that the directors set for themselves. Any mention of recommencement of production, and hey presto it'll be pay day for them.


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## AncientAntlers (26 October 2007)

Price of Gold has been increasing steadily too, up $US11.5 at the moment to $US774.40. In my view they are being overly cautious about stating their reserves due to their previous follys. If and when (small IF in my opinion) they start production again it should rise nicely. 

Im also wondering if SBM has been selling down their stake as they have just announced an equity raising plan. Or does this mean they have resisted selling their 10% stake in BDG and plan to raise all the capital they need entirely through other means. Therefore they either dont want to sell their stake in BDG as they believe in its potential, or their stake isnt worth enough to consider selling.

DISCLAIMER: I own shares in BDG.


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## AncientAntlers (26 October 2007)

Roughly in the last 30 mins this share has jumped from $0.285 to 0.32. Pretty big volume too compared with the rest of the day. 

Dont know if this has anything to do with being close to end of trading on a friday or what?

Just under 4 million in buyers line for $0.315


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## Uncle Festivus (26 October 2007)

AncientAntlers said:


> Roughly in the last 30 mins this share has jumped from $0.285 to 0.32. Pretty big volume too compared with the rest of the day.
> 
> Dont know if this has anything to do with being close to end of trading on a friday or what?
> 
> Just under 4 million in buyers line for $0.315




And that's just one buyer @ 31.5c!

If patience had a value I'd be a millionaire by now with this one. Does this classify as a 'bolt on acquisition' for SBM, some of the new funds going into  an 'imminent' producer again?  Why would you  move the companies HQ to Melbourne if you  didn't want to be close to the action?


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## AncientAntlers (28 October 2007)

Could it be that the recent spectacular results from nearby company GBM somehow increased BDG percieved potential?


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## AncientAntlers (31 October 2007)

*Becoming a Substantial Holder*

Recent Aqusitions by Orbis Australia Equity Fund. They now hold 5.32% of voting power and are considered a Substantial Holder.


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## The Mint Man (15 November 2007)

For all you long suffering BDG holders (like me) I think I have some good news for you all, up 23% ATM..
See below;



> Bendigo Mining
> Limited
> ASX Release 15 November 2007
> *Spectacular assays from high grade
> ...




See actual Ann for more, including the table the assays and grade range estimates for all intercepts.
heres a link to the whole thing http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00783332

With POG and lead up to Christmas, this couldn't have come at a better time.

Cheers


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## AncientAntlers (15 November 2007)

what do you mean by "lead up to christmas"? Are you referring to the market being good during this season?


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## Sean K (15 November 2007)

AncientAntlers said:


> what do you mean by "lead up to christmas"? Are you referring to the market being good during this season?



Commonly called a Santa Rally. November is seasonally good as well. Doesn't mean it happens every year, but the probabilities are that we'll run up into Christmas.


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## The Mint Man (15 November 2007)

AncientAntlers said:


> what do you mean by "lead up to christmas"? Are you referring to the market being good during this season?



To answer your question I have to write 100 words. So thank you Kennas for explaining what I was referring to and, Yes that is exactly what I meant.

Cheers


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## So_Cynical (17 November 2007)

I just spent an hour or so reading through this thread...its an eye opener
as to what can go horribly, horribly wrong.

This thread should be compulsory reading for all nOObs.

below is what i don't quite understand



			
				BDG ann said:
			
		

> Production from the Kangaroo Flat processing plant
> commenced on 1 October 2006 and ceased due to
> limited reserves after eight months in May 2007. During
> this time 175,966 tonnes of ore were treated grading
> ...




Theres lots of other miners with lower g/t gold, making money

how come BDG cant make money at 5.4 g/t gold????


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## resourceboom (17 November 2007)

So_Cynical said:


> Theres lots of other miners with lower g/t gold, making money
> 
> how come BDG cant make money at 5.4 g/t gold????




Cause they are doing more costly underground mining, not open pit. Also they had a large workforce as they expected a much greater production rate and grade.  Think now they would still be marginally profitable at current prices but they want to focus on the better grades.


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## So_Cynical (17 November 2007)

Ok so ive done some reading and the minimum required grading
seems to be anything above 6.0 g/t gold for underground 
mining in Australia....depending on POG too.


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## Crash (3 January 2008)

Good finish this afternoon for BDG.  Some news or just reflecting the Gold price?  When are we due for some more announcements?


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## trtkjd1 (3 January 2008)

News results that seems to be something BDG seems very reluctant to release apart from the spectacular 4000 grams per ton result released a couple of months ago, we here basicly nothing from them.??????????????


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## Real1ty (3 January 2008)

If you read their reports it's all contained in there.

They are currently working on a cross cut tunnel so they can drill the Gill Reef and if results are as expected, progress to some trial mining.

They have found 5 new reefs, with Gill being the most attractive prospects atm.


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## Crash (4 January 2008)

Well it may have all been in the report - but that was some time ago.  Up to 0.39 this morning which is a good way clear of what it has traded at for most of that time in between.  With no news - is it just the POG or some inside knowledge on what that trial mining is producing?


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## Uncle Festivus (4 January 2008)

Crash said:


> Well it may have all been in the report - but that was some time ago.  Up to 0.39 this morning which is a good way clear of what it has traded at for most of that time in between.  With no news - is it just the POG or some inside knowledge on what that trial mining is producing?




Crash, a bit of everything maybe - gold price, insider knowledge of the trial, & has  spent it's time in detention for being a naughty company, and the somewhat clouded fundamentals are improving & coming into play.

I can't emphasise enough what they have there  eg infrastructure in place and gold there somewhere, they just have to mine it profitably, and sustainably, which I think they will do.

Having said that, we have been here before with the false break outs  - which one will be the real deal who knows? There will be selling pressure all the way back to the 80's as some investors have been left with a bad experience with them.


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## cuttlefish (4 January 2008)

good comments uncle festivus.  The potential of this is enormous, _if_ they have the gold.  Succesful trial mining confirming grades and confirming their current estimation techniques would go a very long way to restoring confidence.  Also succesful in-fill drilling and trial mining will mean they would be a significant producer again by late next year/early 09.

I've posted a comment in the outstanding breakouts thread as well.

They should be about to start in-fill drilling on gill and if succesful continue crosscut and start trial mining gill reef.


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## Crash (4 January 2008)

Yeah i definitely got into this for a long term recovery so not getting too excited about a bit of a push up as they get things sorted out - just hope to cash in long term.  Just sometimes it is nice to be able to see what drives the price.


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## Crash (4 January 2008)

It may also be approaching a time that the rumored takeover could come about - while BDG is still cheap but the hard work to turn it around has mostly been completed.


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## The Mint Man (4 January 2008)

Uncle Festivus said:


> There will be selling pressure all the way back to the 80's as some investors have been left with a bad experience with them.



yep, thats me!!!
They have ALOT of ground to make up to make this little duck happy I got in just before the placement @ 80c, just before things went pear shaped.


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## Uncle Festivus (5 January 2008)

Well it's starting to look good, better if it was past 80c, best if it broke new highs past $2.60 .

Support trend line established, time & momentum coming into play, just needs pog to continue to the script


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## Real1ty (5 January 2008)

Thanks for that chart Uncle.

I bought back in yesterday, and have now averaged down my unit costs dramatically.

I would be happy if it just continued a slow steady climb and established a resistance above 40c.
Great sp jumps would be great of course but i feel that if BDG can gain some trust in the price and future upward direction of the sp, it will come back onto the radar of many that had either written it off or refused to buy back in until there was some good news.

Of course the drill results, trial mining results are going to be vital as if there is any bad news in these, the stock will get sold off heavily imo and many will have lost any of the trust they might have slowly regained in the stock.

I think managements decision to take things slowly and cautiously is a good decision and if the POG stays high, which looks a big probability, and they release good results from Gill, BDG could be back on it's way again.

Fingers crossed.


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## AncientAntlers (27 January 2008)

Just been reading from the BDG website and realised that if the continue their operations from where they stopped in Mar 07 they could easily go from Explorer back to Producer

After they announced the mining halt in Jan 07 due to their poor Dec 06 Q results, they continued mining until Mar 07. This period gave them results which if they began producing again, with the current POG ($900 US/oz) could be making them around $5M US Profit a quarter

http://www.bmnl.com.au/our_operations/production.htm


Would like to know your views on BDG and if theres anything wrong with my calculations


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## Uncle Festivus (13 March 2008)

Shall we have another go at some good news - Gill reef accessed and grades maybe confirmed, trial mining on track for 3rd qtr 



> Underground mine development has accessed the high grade Gill reef at the
> Company’s Kangaroo Flat Mine in Bendigo.  The mineralisation observed in the
> development is as predicted from drilling.
> 
> ...


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## Uncle Festivus (14 March 2008)

MD & CEO Rod Hanson 
The high gold price is excellent news for the industry and for Bendigo Mining.  
Trial production will be coming on  in  the second half of  the year and we are 
confident  that prices will  remain high.   The  issues we  see  currently  in world 
economic  and banking markets,  rising  interest  rates,  the weak US dollar  and 
uncertainty  on  the  stock market,  should  continue  to  drive  the  price  of  gold 
upwards. 

Therefore,  because  we  don’t  have  any  forward  sales,  all  our  gold  will  be 
delivered  at  spot.   We  also  anticipate  further  exploration  success which will 
enable us to build on the trial production program and produce additional gold 
to generate further revenue at very good prices. 

The Company  has  undertaken  a  comprehensive  review  of  its  strategy,  so  as 
well  as  exploring  in  the  immediate  mine  area,  we  also  want  to  carry  out 
additional work on the exploration license which surrounds our mining lease at 
Bendigo, but has seen only limited exploration work for many, many years. 

* As  part  of  our  strategic  review, we  have  also  decided  to  look  further  afield 
beyond Bendigo  for  opportunities  to  expand  and  grow  the  business,  but we 
will remain focussed on gold.*


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## Uncle Festivus (18 March 2008)

The spin has started again, but looks like every one is waiting to believe it when they see it?

*BENDIGO Mining is believed to be targeting initial production of as much as 40,000 ounces of gold a year when it resumes production in the September quarter.*
                                                          Industry sources told _BusinessDaily _that the miner is initially aiming to process around 150,000 tonnes of ore a year at its plant in Kangaroo Flat on the outskirts of Bendigo. 
 The company expects the ore to yield eight to 12 grams of gold a tonne, putting annual production at as much 40,000 ounces. 

http://www.news.com.au/heraldsun/story/0,21985,23391545-664,00.html?from=public_rss


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## Trader52 (24 March 2008)

This is my current worst loss.   I bought in way back at $1.60, so Not Happy Jan!

I did the sell and buy to claim a tax loss last year, so I am very keen to see them go back into production.  A lot of the big guys got burnt also, so they won't go back in until there is positive cash flow and a proven long term consistant flow of gold producing ore at good grades.

With gold at record highs, and BDG with no hedging, it could turn a nice profit.

There are a lot waiting on the sidelines to see if they start production again.


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## sophieyan (23 May 2008)

I've been told on good authority that when BDG announced their overstated
resource, some of their local Bendigo geologists knew that the extraordinary
high figures were not a go, and jumped ship to Greater Bendigo Gold Mines
(GBM).   John Cahill is now MD of GBM, having quit BDG early in the piece,
apparently out of protest.

Here is a comparison of the companies using figures from Gold Nerds:

Market Cap:  BDG=162 mill  GBM=16 mil
Jorc Resource: BDG = 0  GBM = 150,000oz
Ratio of Market Cap to Resource:  BDG = A$ n/a  GBM = A$107 /oz  
Forecast Production: BDG 40,000 oz/yr  GBM 20,000 oz per year
Ratio of Market Cap to forecast production: BDG A$4050/oz  GBM A$800/oz


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## Sean K (23 May 2008)

sophieyan said:


> I've been told on good authority that when BDG announced their overstated
> resource, some of their local Bendigo geologists knew that the extraordinary
> high figures were not a go, and jumped ship to Greater Bendigo Gold Mines
> (GBM).   John Cahill is now MD of GBM, having quit BDG early in the piece,
> ...



I'm not sure if it's a fair comparison sophie. 

Comparing companies with no JORC, to those that do is a difficult task, let alone not comparing grades, infrastructure, underground/open pit, stip ratios, cash in the bank, type of deposit, etc, etc.

I don't think we should be doing a peer comparison with BDG, because no one else has made such an incredible **** up before. Less Croesus perhaps.


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## Firdy (23 May 2008)

I think that's a good comparison SophieYan.  I'd like to see more comparisons with other miners in the area.   I've been saying for a while that Victorian goldminers are undervalued, and the problems in mining in the area are overstated ....    But it looks to me like BDG is still overvalued compared with others who are coming into production.


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## Uncle Festivus (19 June 2008)

A glimmer of hope for long suffering shareholders?




> Australian-listed Bendigo Mining has begun processing ore at its gold mine in regional Victoria. Production was halted in mid-2007, although the company continued to undertake exploration at the mine in Bendigo, focusing on areas that have yielded better-quality grades in the past. The company's Kangaroo Flat treatment plant has began processing ore on a trial basis, and will shortly begin processing ore from the Gill reef, which is believed to be of high quality.





> Gold company Bendigo Mining is rebuilding its work force, after being forced to shed about 150 jobs last year.
> It has employed another 20 people over the past few months to support the resumption of trial processing and more mining.
> Processing was put on hold and the work force was reduced from 250 to 80 last year, because of lower than expected yields.
> Managing director Rod Hanson says any further expansion will be carefully considered.
> ...


----------



## The Mint Man (2 July 2008)

Uncle Festivus said:


> A glimmer of hope for long suffering shareholders?



Possibly...
I'm a long term sufferer on this one and have not really paid much attention to it since it went down..... I went to take losses on it on the 30th June but stuffed up somewhere in the order process and ended up keeping all of my holding
So this morning I decided to catch up on what has been happening and came across the Ann on the 17th June (and an article  by The Age dated the 18th) in regards to production etc.
So although I wanted to sell to take loses (for tax), I will now hold for the moment to see how things pan out over the next few months. I figure I may as well hold as I have taken big loses already and mentally wrote these off a long time ago. If there is anything to be gained out of holding off for the results from the trial production then I may as well hold on, I am also interested in the Eglehawk gold field which they have started to explore for shallow orebodies. They will supposedly have some results for us on this one in the medium future as well.

Here is a copy of the Ann released on the 17th June which myself and Uncle Festivus are referring to;



> 17 June 2008 ASX Release
> Bendigo Mining
> Limited
> ABN 61 005 674 073
> ...




Cheers


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## Uncle Festivus (26 July 2008)

Credibility Update?

Last price 23.5c 

Orbis increases holding from 6.36% to 7.4%

And an interesting hint from the June quarterly - 



> “Looking outside Bendigo, the weak equity market is increasing the number and
> quality of opportunities available to the Company. I am keen to leverage our
> mine development and operating skills on other assets, so long as these assets add significant value for our shareholders.”​




So this could be either a) we got no gold here, and $50m in the bank, so might as well spend it on something that does have gold?​ 
or b) as also noted, it appears that the gold sales proceeds from the trial mining will be able to fund trial mining operating costs from here, so maybe genuinely looking to be more agressive in this oversold gold equity environement?​ 
Tempting to get back in at this level?​


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## tech/a (26 July 2008)

Sorry guys but I personally think your looking for any glimmer of hope you can find from each announcement.Its dead in the water and with punters agreeing by selling it off to all time lows.

Not a nice position to be in.
Company is on the hunt to boost its flailing profits(I dont know what the profits are but hazzard a guess they arent rising!) and doesn't see it getting any better without diversifying---that's the way I read it!


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## Uncle Festivus (26 July 2008)

tech/a said:


> Sorry guys but I personally think your looking for any glimmer of hope you can find from each announcement.Its dead in the water and with punters agreeing by selling it off to all time lows.
> 
> Not a nice position to be in.
> Company is on the hunt to boost its flailing profits(I dont know what the profits are but hazzard a guess they arent rising!) and doesn't see it getting any better without diversifying---that's the way I read it!




They have said that the trial mining is cost neutral. If nothing else it will limit the cash burn, extending the life of the company beyond the 2 years it would have had left if the trial mining was a complete failure. They are "mining" grades between 6 & 15oz. The only thing that needs to be established, as has always been, is the consistantcy of the grades. 

If BDG was a new float with $50m in the bank (and a new processing plant already built) and started returning the grades reported it would be viewed differently, as unfortunatly it's got a heap of historical baggage . Cash is 40% of current market cap! I still think the play with SBM is also still on.

Sentiment plays as much a part as anything else. Being a nuggety, shoot by shoot quartz geology, I wouldn't write it off completely just yet as there _is_ gold there.


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## cuttlefish (26 July 2008)

I'm not convinced they've got the geology understood yet.  The visual estimating doesn't seem to get confirmed by the drill results.  They also seem to be gently downplaying the grade expectations from gill reef as a whole.  They haven't got a large resource and they don't seem to be finding new reefs at any great rate of knots either.  The trial mining results will be interesting and will give something concrete to work on I guess - but they still need to find much more gold than one new reef to feed the plant they've got and to make a deep and expensive operation profitable.


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## Real1ty (5 August 2008)

I got out of this on Friday at .225 after holding on for far too long and averaging down.

Copped a hurtful loss but i'm glad that i am out now as all confidence is gone imo.


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## $20shoes (29 January 2009)

Showing some good signs and at the right time..

*Extracts from Qrtly:*


Ore treated of 32,011 t at 9.8 g/t gold for 9180 oz gold. 

•    Gill reef head grade averaged 10 g/t, with ore blocks ranging from 3.6 g/t 
gold to the bonanza grade block of 28.9 g/t gold. 

Revenue generated of A$11.0 million included the sale of 9189 oz of gold at
an average price of A$1189/oz.

•    Cash in bank at 31 December 2008 was $44.9 million and in addition $3.5
million of gold ore held at year end was sold in early January (cash as at 30
September 2008 was $42.7 million).


*Mining continues to confirm the reef shape as
interpreted from diamond drilling. 

*The narrow vein mining equipment purchased in July 
2008 is giving excellent performance in accessing 
narrower sections of Gill reef, and is planned to be 
integral to the trial mining next quarter of narrow 
reefs such as Dale reef on the Deborah line. 

A hand-held mining trial, utilising a contractor, is 
planned to commence in the March quarter on narrow 
portions of Dean reef on the Deborah line. 


*The process plant was operated on a four day per 
week, 10 effective hours per day basis.  In order to 
process higher rates of ore production, the plant 
operating time is planned to increase to an effective 
13 hours per day. 

*Drilling intersected a reef associated with the Deborah 
fault, now named the Dunlop reef, at a depth of 
around 350 metres below surface (see table below). 
It is located within 150 metres of the current mine 
workings.  The quartz reef is up to 15 metres wide, 10 
metres high, and defined over a strike length of 30 
metres.  The reef has potential to host high grade 
zones and further drilling will be undertaken next 
quarter to test for strike extensions. 

*Drilling on the first section intersected a zone of 
quartz veining, named the Nankervis reef, on the west 
limb of the Nell Gwynne anticline.  The reef is 
interpreted to range from three to nine metres wide 
and is up to 50 metres high.  Zones of laminated 
quartz with visually estimated high grades have been 
observed, confirming that the reef has the potential to 
host significant gold mineralisation.  Nankervis reef 
will be tested next quarter on a section 100 metres to 
the north. 


  *External investment opportunities continue to be 
carefully assessed by the Company


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## jonnycage (6 May 2009)

anyone following these guys at the moment ?  prospects for the future
with cash turning positive,  thoughts ?


jc


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## $20shoes (7 May 2009)

jonnycage said:


> anyone following these guys at the moment ?  prospects for the future
> with cash turning positive,  thoughts ?
> 
> 
> jc





I'm still in and holding for a break above 27c. She is still the ugly duckling and is perhaps finding it difficult to shake off the issues of yesteryear. Although BDG isn't a darling she has great leverage to higher gold prices. In fact Bendigo has far more to offer than some of the speccys who are burning cash but have had great runs. Lots of good stuff happening here and they are slowly proving that they can prove their resource. 

Do you think there is still some doubt around Vic goldfields viability?
think hiccups around BDG several years ago and SBM looking a little shaky.


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## Uncle Festivus (7 May 2009)

Same as $20shoes said, as the cash is actually going up, production is going up slowly but surely, and their is no doubt a few corporates keeping a close eye on an asset they can buy cheaply with $50M cash thrown in - once the geology is proven and tested? I think it's a 'creeper' now with positive momentum.


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## jonnycage (7 May 2009)

some good points, cheers.   what price would you enter at present ?
i was thinking if it dipped back under 20 cents 
jc


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## $20shoes (7 May 2009)

jonnycage said:


> some good points, cheers.   what price would you enter at present ?
> i was thinking if it dipped back under 20 cents
> jc




Without giving financial advice, I would suggest a new trend in spot gold (when it comes) might dictate whether BDG swings below 20c or above 27c. 

Without a breakdown in the price of gold, or currency movements that are adverse to Aussie goldies, you may not see .20c

A buy above 27c could be safer?


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## Uncle Festivus (7 May 2009)

I'm waiting for a shakeout in general stocks before looking to buy goldies again, on the proviso that gold doesn't take off at the same time?


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## jonnycage (7 May 2009)

im thinking along the same lines, keeping a close eye, but maybe a slight correction could be the right time to get into these guys.  (have bought
and sold out of these before)

jc


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## jonnycage (3 August 2009)

gaining momentum ?  more cash freeing up,  picked up a reasonable
parcel at 24 cents last week,  and gold up again.

anyone following ?

jc


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## Uncle Festivus (3 August 2009)

I'm still out, still waiting for a general pullback? I think BDG have some good fundamentals now, slowly & surely the lesson in over estimating reserves has turned them ultra conservative. Steadily rising cash at bank and fully funded, with excellent grades. Timing the entry.....


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## McCoy Pauley (3 December 2009)

Following this one with a little bit of interest as it seems to be one of the few gold explorers on the ASX which hasn't yet benefited from the increasing gold price internationally.  Still seems to be bumping around the range of $0.22-$0.27 in the last 3-6 months (though it peaked twice at about $0.31 in May).

BDG announced on 20 November that the results of initial explorations at Henty and Kangaroo Flat were positive but that still didn't pique the market interest very much.

The Age had an article about BDG in yesterday's paper.

http://www.smh.com.au/business/bendigo-needs-big-find-to-pep-up-shares-20091202-k4ku.html


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## MiFFy (3 December 2009)

Would be nice to find some more Gold reserves at Henty.... having worked there myself at one stage and still knowing a few people there.... 

There is not much known reserves left.... a nice strike could see some nice profits....


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## roland (3 March 2010)

Bendigo's mining performance is coming along nicely - and they have some impressive AU resource statistics.

I am a little worried about the $900 per ounce cost of production. Is this a little higher than peer gold miners?


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## roland (21 April 2010)

BDG's positive cash flow of $5Mil obviously fell short of expectations.

A couple of negative comments from the report:

Henty Gold Mine produced 9623 oz at a cash cost of $963/oz whilst the
Kangaroo Flat Mine delivered 8124 oz at A$1009/oz. *Transitional issues at
Henty continue to impact on grade.* A $3.8 million capital investment
program was approved with a new loader delivered late in the quarter, along
with a hired truck and jumbo drill.
• *Kangaroo Flat production was affected by the addition of known lower grade
reefs into the mining schedule.*
• Company production guidance of 80-90,000 oz for FY10 is maintained *but
achievement depends on a strong June quarter* and in particular the realised
grade.

Anyhow, nearly $60Mil in cash and positive cash flows can't be all bad.


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## Happy (2 September 2010)

0.195 tripped my entry signal, stop sits now at 0.17

With 0.5 cents dividend in pocket, loss will be little bit smaller if stop triggered.


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## Happy (22 September 2010)

BDG - stop moved to $0.185

Once new high $0.24 reached, stop will go under current retracement unless retracement trips my stop.

But this is moving too far forward.


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## roland (22 September 2010)

Happy said:


> BDG - stop moved to $0.185
> 
> Once new high $0.24 reached, stop will go under current retracement unless retracement trips my stop.
> 
> But this is moving too far forward.




certainly not the fastest moving stock on the board. I'm sitting in profit, but only just.


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## roland (13 October 2010)

A little smack in the face this morning with the BCD issue. Nice healthy recovery though giving us a 4.55% rise. $0.23 seems to be a short term hurdle, maybe if POG rises overnight we may have a little run.

WTF is BCD doing? They take the $$'s and default on the agreement, then run off to the courts for some sort of stalling tactics.....


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## Happy (14 October 2010)

Jumping a gun by about 2 hours and 30 minutes, but if nothing major happens between now and 4:10 PM stop will be moved to $0.20 effectively moving position into break even area plus dividends as bonus.

It is hair rising to know the fundamental side of price action.
With my technical trading I feel that I am often oblivious to pending disaster. 

Having said that maybe this is blessing, as by nature I am bit jumpy and easily emotionally swayed by experts’ comments.


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## roland (14 October 2010)

Take it as it comes, and have a clear exit if it falls back. 25.5 just taken out and the gap filled instantly. I've sat on this for 7 months and nothing is going to take away today's pleasure


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## Happy (26 October 2010)

Moved BDG stop to $0.205 

I know almost meaningless move, but I did this while anxiously waiting for logical reason to bump my stop to $0.24


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## pedalofogus (27 October 2010)

Hi Guys,

I notice there are a few watchers of BDG on ASF.  I am currently looking at this one as a potential addition to my portfolio.

It seems quite good as it has some $$$'s in the bank and some resource in the ground.  And fundamentally it seems pretty good, however the market seems to be pretty bearish on it (until recently).

On the charts it seems like a reversal down to say 22-23 isn't out of the question in the short term, and this is when i would be looking to make my investment.

Just keen to hear any comments that long term watchers of this stock may have?

Cheers
Pedalofogus


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## Sean K (27 October 2010)

pedalofogus said:


> Hi Guys,
> 
> I notice there are a few watchers of BDG on ASF.  I am currently looking at this one as a potential addition to my portfolio.
> 
> ...



It might pay you to go back to this thread to about 2007 or so when the stock started running down hill and then off a cliff. Was all due to the deposit, not actually producing anything. Much like CTO is doing now. They claimed millions of ounces but when they started mining they just dug up dirt. Had no idea of the deposit and where the gold was, if any at all. So, the had to go back to exploration drilling to work out where the gold was. I'm not sure if they know yet.


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## pedalofogus (27 October 2010)

kennas said:


> It might pay you to go back to this thread to about 2007 or so when the stock started running down hill and then off a cliff. Was all due to the deposit, not actually producing anything. Much like CTO is doing now. They claimed millions of ounces but when they started mining they just dug up dirt. Had no idea of the deposit and where the gold was, if any at all. So, the had to go back to exploration drilling to work out where the gold was. I'm not sure if they know yet.




Thanks for the advice, i have gone back and looked at the time frame you talk about, and it does make you wonder whether the management knew what they were doing.

More research needed i think.

Cheers
Pedalofogus


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## roland (28 October 2010)

Now here is a problem, cash cost for production is $980/oz compared with IGR's $574/oz. No wonder they are looking at Africa


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## roland (28 October 2010)

roland said:


> Now here is a problem, cash cost for production is $980/oz compared with IGR's $574/oz. No wonder they are looking at Africa




It's worth noting that 6 months ago the cost was $980/oz. If the costs keep going up then they are better off keeping it inb the ground


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## Happy (31 October 2010)

Another little move for my BDG stock stop to $0.21
Funny that gold price is daily published in US Dollars which are going down, so glod price seems to be going up. (Nice trick)


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## Happy (6 November 2010)

BDG stock moved to  $0.215

Stop did not have to go up, as I cannot see any clear signal, but every week there is lost income opportunity if money was given another job, like in a Bank account.
And this stock moved enough to support stop move too.


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## jonnycage (2 February 2011)

now known as unity mining (how sweet lol) under code UML

hmmm  Kennas id value your input.  Is this citigold in a mask ?  i remeber bendigo
having similiar big statments, with little progress


jc


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