FFR - Firefly Resources
- Thread starter massno
- Start date
- Joined
- 4 May 2008
- Posts
- 52
- Reactions
- 0
Re: BMY - Brumby Resources
Todays action is most likely linked to the presentation announcement BMY release this morning.
Drilling to start this month so lets see what happens over the next month or 3, fingers crossed.
Todays action is most likely linked to the presentation announcement BMY release this morning.
Drilling to start this month so lets see what happens over the next month or 3, fingers crossed.
- Joined
- 10 March 2008
- Posts
- 313
- Reactions
- 0
Re: BMY - Brumby Resources
The best slide in that presentation was the second last one - "Tightly held capital structure 63m shares" This one is going to get whippy I reckon.
Stay tuned.
The best slide in that presentation was the second last one - "Tightly held capital structure 63m shares" This one is going to get whippy I reckon.
Stay tuned.
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Re: BMY - Brumby Resources
Is the giant stirring again? lol
Drilling is way way overdue and the results will be greatly anticipated
The mkt cap is still tiny when considering the upside of a decent discovery but before I get ahead of myself BMY needs the discovery
I still maintain they have some of the best Iron ore Grounds in OZ for a tiny spec play
Hey Adobee, since the opies are 15c exercise with 8 months to go they offer good leverage and I suspect thats why they're moving
The Mkt Cap is still tiny and any discovery will result in a huge re-rating of the stock
This is still my sleeping giant of the Iron ore plays given its land position relative to AGO
Time will tell.........
Is the giant stirring again? lol
Drilling is way way overdue and the results will be greatly anticipated
The mkt cap is still tiny when considering the upside of a decent discovery but before I get ahead of myself BMY needs the discovery
I still maintain they have some of the best Iron ore Grounds in OZ for a tiny spec play
- Joined
- 8 February 2007
- Posts
- 100
- Reactions
- 0
Re: BMY - Brumby Resources
Just had a look after getting home from work. - Just the one seller. Could be interesting times ahead
Just had a look after getting home from work. - Just the one seller. Could be interesting times ahead
- Joined
- 8 January 2008
- Posts
- 255
- Reactions
- 0
Re: BMY - Brumby Resources
Could someone explain to me how a tightly held stock actually represents potential value for its shareholders?
If we only have one seller on the board, and then no sellers on the board, how can the price change?
If there are no sellers won't the buyers just move on to something else? and keep the giant to its cave?
I can't put out a sell order for 30 cents at the current lvl, yet this is the price I would want to sell for.
Am I to slowly increase the sale price myself? Isn't that price manipulation? I'm confused how low volume shares actually appreciate.
Thank you
I.R. STILL'A'NOOB
Could someone explain to me how a tightly held stock actually represents potential value for its shareholders?
If we only have one seller on the board, and then no sellers on the board, how can the price change?
If there are no sellers won't the buyers just move on to something else? and keep the giant to its cave?
I can't put out a sell order for 30 cents at the current lvl, yet this is the price I would want to sell for.
Am I to slowly increase the sale price myself? Isn't that price manipulation? I'm confused how low volume shares actually appreciate.
Thank you
I.R. STILL'A'NOOB
Re: BMY - Brumby Resources
Tukker
i have the same problem with a stock like BMY when you can't place a sell order too far from the last price. maybe it's because i'm with commsuc.
i do recall you can call them and place the sell order over the phone but that is not acceptable for people who want the ability to place orders etc quickly. if correct, i don't know if once the order is placed you can then change the instruction re sell price yourself.
i have seen stocks where there is a sell order at way above the active buy/sell range, so should be possible
but you are right how do you give someone the opportunity to buy BMY at 30c even if the last sell was at say 15c???!!!
and if you can't do this then do you have to wait for the buy side to build closer up to the sell price of 30c before being able to place your order? doesn't make sense does it, there may be people who want to place a sell in anticipation of the price hitting their sell in one or twenty days and being able to just leave it there
Tukker
i have the same problem with a stock like BMY when you can't place a sell order too far from the last price. maybe it's because i'm with commsuc.
i do recall you can call them and place the sell order over the phone but that is not acceptable for people who want the ability to place orders etc quickly. if correct, i don't know if once the order is placed you can then change the instruction re sell price yourself.
i have seen stocks where there is a sell order at way above the active buy/sell range, so should be possible
but you are right how do you give someone the opportunity to buy BMY at 30c even if the last sell was at say 15c???!!!
and if you can't do this then do you have to wait for the buy side to build closer up to the sell price of 30c before being able to place your order? doesn't make sense does it, there may be people who want to place a sell in anticipation of the price hitting their sell in one or twenty days and being able to just leave it there
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
Re: BMY - Brumby Resources
I am advised by comsec that this is due to Orderly Markets, an asx rule as below..
Orderly market
In broad terms, an orderly market is one where:
there is full price discovery, i.e. where all orders and trades are visible to the marketplace there is no attempt to manipulate market prices there are no orders at prices too distant from the current market for a security there is no attempt to take unfair advantage of obvious order errors, e.g. if you notice an order that has a price which is too good to be true, the price may have been entered in error. Contact ASX or your Broker immediately. In many cases, trades that take place due to such errors are subsequently cancelled.
Anyway Brumby is looking pretty good right now.. shares are tightly held and people want to buy.. I picked up some options the other day which have to be looking more attactive as the price moves up..
I am advised by comsec that this is due to Orderly Markets, an asx rule as below..
Orderly market
In broad terms, an orderly market is one where:
there is full price discovery, i.e. where all orders and trades are visible to the marketplace there is no attempt to manipulate market prices there are no orders at prices too distant from the current market for a security there is no attempt to take unfair advantage of obvious order errors, e.g. if you notice an order that has a price which is too good to be true, the price may have been entered in error. Contact ASX or your Broker immediately. In many cases, trades that take place due to such errors are subsequently cancelled.
Anyway Brumby is looking pretty good right now.. shares are tightly held and people want to buy.. I picked up some options the other day which have to be looking more attactive as the price moves up..
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Re: BMY - Brumby Resources
Here's how tightly held small cap stocks offer huge upside
If they discover a large Iron Ore deposit that would warrant a mkt cap of say $60m then BMY with about 60m shares on issue gets a share price of $1
However if they had say 200m shares on issue it only equals a share price of 30c
A bit off topic but thought Id try and show how it works
On BMY 15c looks like a key level (maybe a techie can confirm this) so a break of 15c would be a breakout I think
Here's how tightly held small cap stocks offer huge upside
If they discover a large Iron Ore deposit that would warrant a mkt cap of say $60m then BMY with about 60m shares on issue gets a share price of $1
However if they had say 200m shares on issue it only equals a share price of 30c
A bit off topic but thought Id try and show how it works
On BMY 15c looks like a key level (maybe a techie can confirm this) so a break of 15c would be a breakout I think
- Joined
- 8 January 2008
- Posts
- 255
- Reactions
- 0
Re: BMY - Brumby Resources
Valuation methods aside, i don't see how (in some form or another) price manipulation is necessary to actually get the price "you" think your own shares are worth given the rules that brokers have to work within.
A bit off topic im sorry.
Broke 0.15 today but quickly retreated.
Still holding.
Valuation methods aside, i don't see how (in some form or another) price manipulation is necessary to actually get the price "you" think your own shares are worth given the rules that brokers have to work within.
A bit off topic im sorry.
Broke 0.15 today but quickly retreated.
Still holding.
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Re: BMY - Brumby Resources
A bit off topic Turkker but have a look at what a tight registry and some good results did for ALY, 5c to 38c in one day!
While Im not saying this will happen this is what I was referring to when I said "Here's how tightly held small cap stocks offer huge upside"
I think this is forming a new base at 15c before pushing higher, I expect 25c sometime in the next 3months, I could be wrong
A bit off topic Turkker but have a look at what a tight registry and some good results did for ALY, 5c to 38c in one day!
While Im not saying this will happen this is what I was referring to when I said "Here's how tightly held small cap stocks offer huge upside"
I think this is forming a new base at 15c before pushing higher, I expect 25c sometime in the next 3months, I could be wrong
Re: BMY - Brumby Resources
Don't know how long it might take to get from drilling to results but if they hit some good intersections, I would expect more like 40-50c. This would still only value them at $25m-ish which is pretty low if they end up with some millions of tonnes of IO. Here's hoping anyway Hope you're wrong and I'm right YT
A bit off topic Turkker but have a look at what a tight registry and some good results did for ALY, 5c to 38c in one day!
While Im not saying this will happen this is what I was referring to when I said "Here's how tightly held small cap stocks offer huge upside"
I think this is forming a new base at 15c before pushing higher, I expect 25c sometime in the next 3months, I could be wrong
Don't know how long it might take to get from drilling to results but if they hit some good intersections, I would expect more like 40-50c. This would still only value them at $25m-ish which is pretty low if they end up with some millions of tonnes of IO. Here's hoping anyway
Hope you're wrong and I'm right YT
- Joined
- 8 January 2008
- Posts
- 255
- Reactions
- 0
Re: BMY - Brumby Resources
I thought the ASX is supposed to stop these kind of price movements.... some people can do it but some cant? Im gonna put a sell order at 45cents again and again until i have my account banned and your right new support seems to have been met. Slightly less volume, but I never look at that too hard with small caps.
Hope we have a good few months ahead.
btw I own shares bought at 30cents... sucks to be me...
A bit off topic Turkker but have a look at what a tight registry and some good results did for ALY, 5c to 38c in one day!
While Im not saying this will happen this is what I was referring to when I said "Here's how tightly held small cap stocks offer huge upside"
I think this is forming a new base at 15c before pushing higher, I expect 25c sometime in the next 3months, I could be wrong
I thought the ASX is supposed to stop these kind of price movements.... some people can do it but some cant? Im gonna put a sell order at 45cents again and again until i have my account banned
and your right new support seems to have been met. Slightly less volume, but I never look at that too hard with small caps. Hope we have a good few months ahead.
btw I own shares bought at 30cents... sucks to be me...
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
Re: BMY - Brumby Resources
all pends on the results at this stage.. hopefully its not a case of buy the rumour sell the fact.. I think this has a good chance of a run considering the low market cap and great land holdings.. I have again bought more at 17c and have an average of 12c now.. holding options at around 3.5c.. these have to get more attractive if we seen any further movement.. AGO is doing a cap raising for 100m maybe they are awaiting the BMY results also...
all pends on the results at this stage.. hopefully its not a case of buy the rumour sell the fact.. I think this has a good chance of a run considering the low market cap and great land holdings.. I have again bought more at 17c and have an average of 12c now.. holding options at around 3.5c.. these have to get more attractive if we seen any further movement.. AGO is doing a cap raising for 100m maybe they are awaiting the BMY results also...
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
Re: BMY - Brumby Resources
wow hit 20c this morning ...
big buying at this level.. total trade of $36 !
still getting lots of interest and buyers at these higher levels news will be on the way soon.. hopefully it will be positive..
wow hit 20c this morning ...
big buying at this level.. total trade of $36 !
still getting lots of interest and buyers at these higher levels news will be on the way soon.. hopefully it will be positive..
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
Re: BMY - Brumby Resources
some good buying at this level now... very interesting on a day when the rest of my stocks are in red... those few available options have to start looking more interesting now...
wonder if there is some news and a leak or just a pump.. doesnt take much for a large holder to push this one up...
some good buying at this level now... very interesting on a day when the rest of my stocks are in red... those few available options have to start looking more interesting now...
wonder if there is some news and a leak or just a pump.. doesnt take much for a large holder to push this one up...
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Re: BMY - Brumby Resources
22c now I should have said I expect 25c sometime in the next few days not 3months lol
TurkkerI hope your watching and can see what I was aluding to re tight share registry and tight market cap in terms of movement
The Sleeping giant of the Pilbara awakens!
As said by Adobbe alot depends on drill results!
A bit off topic Turkker but have a look at what a tight registry and some good results did for ALY, 5c to 38c in one day!
While Im not saying this will happen this is what I was referring to when I said "Here's how tightly held small cap stocks offer huge upside"
I think this is forming a new base at 15c before pushing higher, I expect 25c sometime in the next 3months, I could be wrong
22c now I should have said I expect 25c sometime in the next few days not 3months lol
TurkkerI hope your watching and can see what I was aluding to re tight share registry and tight market cap in terms of movement
The Sleeping giant of the Pilbara awakens!
As said by Adobbe alot depends on drill results!
Re: BMY - Brumby Resources
Agreed YT - I reckon my 40-50c is looking more like it, although the results will bear out whether that's achievable. Options are showing even more the sort of movements that happen with small offerings - traded from 5c to 10c today!
Agreed YT - I reckon my 40-50c is looking more like it, although the results will bear out whether that's achievable. Options are showing even more the sort of movements that happen with small offerings - traded from 5c to 10c today!
- Joined
- 11 July 2007
- Posts
- 361
- Reactions
- 3
Re: BMY - Brumby Resources
As a holder of BMY I still see a lot of upside even though BMY has risen a lot over the last 6 weeks. In my opinion things to keep in mind are:
Pardoo East Iron Project
- gravity delineated 2 large targets (5000m x 500m and 2500m x 2000m) with preliminary drill testing June 2009
Batten Creek Manganese Project
- Mine management plan submitted and heritage survey scheduled for June 2009
- Drill testing (2900m) second half 2009 pending approvals
Other Very Prospective Projects with further work aimed for 2009/10
- Balla-Yule Iron Project
- Ethel Creek Iron Project
- Goldsworthy Iron Project
- Telyagel Iron Project
- Bootu Creek North Manganese Project
Tightly Held Capital Structure
- 63M shares
- approx 47% held by top 20 shareholders
- 11% held by Independence Group
Low Market Cap
- BMY closed at 18.5c today giving it a market cap of <$12M
- IMHO I believe this is very modest considering the very prospective ground that they are exploring
Nothing is a given at the exploration stage but anyone that has done some simple research on BMY can see that they are exploring highly prospective ground surrounded by some very significant mines or mines in the making. As others have coined it, BMY could certainly be a SLEEPING GIANT!!!
As a holder of BMY I still see a lot of upside even though BMY has risen a lot over the last 6 weeks. In my opinion things to keep in mind are:
Pardoo East Iron Project
- gravity delineated 2 large targets (5000m x 500m and 2500m x 2000m) with preliminary drill testing June 2009
Batten Creek Manganese Project
- Mine management plan submitted and heritage survey scheduled for June 2009
- Drill testing (2900m) second half 2009 pending approvals
Other Very Prospective Projects with further work aimed for 2009/10
- Balla-Yule Iron Project
- Ethel Creek Iron Project
- Goldsworthy Iron Project
- Telyagel Iron Project
- Bootu Creek North Manganese Project
Tightly Held Capital Structure
- 63M shares
- approx 47% held by top 20 shareholders
- 11% held by Independence Group
Low Market Cap
- BMY closed at 18.5c today giving it a market cap of <$12M
- IMHO I believe this is very modest considering the very prospective ground that they are exploring
Nothing is a given at the exploration stage but anyone that has done some simple research on BMY can see that they are exploring highly prospective ground surrounded by some very significant mines or mines in the making. As others have coined it, BMY could certainly be a SLEEPING GIANT!!!
