BCN - Beacon Minerals

[barney]

Divi Announcement


Putting the Divi in perspective, it equals $7000 for every million shares owned. Pretty impressive for a minnow

If these boys can come up with a "life of mine" upgrade in their next announcement, we might finally get rid of ground hog day.

 

[barney]

My pick in this Months competition. (Some of the below copied form the Competition Thread)

Company is to pay a total dividend of .007 cents before the end of March

The SP could easily drop once punters have locked in their divi, but there is also a chance that the Bigger fish might push the SP higher to lock in the dividend + sell into higher prices (if they plan to sell.)

If they don't plan to sell however, they may try and squeeze the SP down after the dividend is recorded to pick up discounted shares from fringe holders (before any push higher.)

Either way, I expect some movement higher sometime in the next 2 months. We shall see.

Rough calculation: If the Company's BCNOB Options are all converted it should net them around $15 million

The dividend cost of all Shares on issue + converted Options will be around $26 million

So effectively, the Company will need to fund only $11 million dollars for the total dividend payment

Given they currently have around $16 million in cash, if Options are converted = $31 million in total cash reserves pre divi

Post divi the Company will still have about $5 million in cash and are generating around $6 million per Quarter in gold production.


This a minnow Goldie with a modest Gold operation showing the big Goldies how to run a Company in profit. ?

If they manage to substantially upgrade their current resource (on the cards) and perhaps do a 10-1 share consolidation, they will have around 377 million SOI at an SP of about 40 cents

Given the cash margins they have been able to generate, I think they will start to get more "noticed" by the Fundies.

Hats off to Management!

ps Not to forget that the Company also paid off an $18 million debenture debt last October, 12 months ahead of schedule.

 

[Dona Ferentes]

Company is to pay a total dividend of .007 cents before the end of March

This a minnow Goldie with a modest Gold operation showing the big Goldies how to run a Company in profit. Given the cash margins they have been able to generate, I think they will start to get more "noticed" by the Fundies.

Hats off to Management!

total unf divi is $0.007 or 0.7c per share. There are a few bill shares out there!!

Optimisation of the Jaurdi treatment plant continued during the half seeing significant advancement in throughput rates and metallurgical recoveries rise above feasibility levels. Beacon’s performance during the December period reflects the consistent performance of the Jaurdi Gold Project. The operations team have demonstrated that they can deal with the problems that the unique characteristics of the Lost Dog ore body provide them.

Unique characteristics ... probably scares a few LT punters away.
I like the fact Head Office is at Boulder, not West Perth or Hay St

Capital Works
Beacon has now purchased all long lead critical spares and the installation of 5 new process water bores and associated pipelines. During the half year Beacon advanced the design and approval process for:

• a new circular Integrated Waste Landform Tailings Store Facility facility 700 metres north of the Jaurdi Treatment Plant
• Panther in‐pit TSF when mining is complete.
• In combination with the Lost Dog TSF’s, the above facilities will provide tailings storage for approximately 10 years at current processing rates. Combined with the extension of our borefield we are future proofing the operations.
• The major costs assigned to plant and equipment included purchase of a new Cat 980M for the mill feed, a second Lime Silo, mobile plant Wash Bay, LV fleet, mobile crusher and miscellaneous parts for the improvement of the process plant.
• The public road was rerouted around the Lost Dog pit allowing the mine to expand westward.

EXPLORATION UPDATE During the period, Beacon continued to explore its near mill tenements, with a focus on ‘first pass’ drill testing of conceptual targets and previously defined soil anomalies within the Dunnsville Greenstone terrain. Drilling also targeted analogies and extensions to the Lost Dog deposit along with sterilisation drilling for the IWLTSF. Total meters drilled for the half year included 22,385m of aircore drilling and 1,777m of RC drilling. A further 15,000m of aircore drilling is planned for the March quarter as part of Beacon's ongoing commitment to exploration.

 

[barney]

Options payment date is now past to qualify for the upcoming 007 dividend.

Ex dividend date is tomorrow.

I note the 14 million Share cap that has been sitting at 042 has been removed this morning as I suspected

By removed I mean gobbled up by someone wanting the Div.

The big question is does it get pushed higher before tomorrows ex div

And how far will it drop after the Record Date (Friday)

I have converted all my Options and have pulled up a comfy chair to watch irrespective of what the Traders do from here.

 

[barney]

Ex Dividend today for this little battler.

Early indications suggest it will drop 005 per share (divi is 007 per share) That would seem about as expected.

If it drops further than the full divi amount I will buy more

 

[barney]

Gotta love how these boys go about business

On queue they announce recent new drilling results from the "Big Cat" area

BCN LOM has been questioned, but all indications from management is they expect plenty of upgrades.

Currently generating around $4 Million cash per month

An upgrade to 10 year LOM equates to around $500 Million in revenue.

I'm backing the boys to do just that.


Early days at Big Cat but grades are getting higher as we go a little deeper. Still only down to 60 metres! Positive. (holding)

 

[barney]

Follow up Announcement:

A total of $17 Million was raised through the conversion BCNOB Options

$17 Million Ann


By my rough calculations, the Company had Cash etc on hand approx $30 Million pre dividend

Add $17 Million for Option conversion =

Total Cash $47 Million pre divi

Assuming approx 3.6 Billion SOI (After recent Option conversions)

Dividend payable by the Company approx $25 Million


So if I have this close, post dividend, the Company will still have over $20 Million in cash and are generating around $4 Million in additional revenue in Gold sales per month.

Not bad for a Minnow who poured their maiden Gold Bar in September 2019 Hats off to Management

 

[frugal.rock]

Now, how do I get my divvy @barney ?
Do they post a check or put direct deposit ?
Haven't found in my account yet.

This raises a general question, how do you know how companies intend to pay?
Couldn't see the info anywhere for beacon.

Most recent divvy from BVS was a cheque...?
Cheers

 

[barney]

Now, how do I get my divvy @barney ?
Do they post a check or put direct deposit ?
Haven't found in my account yet.

This raises a general question, how do you know how companies intend to pay?
Couldn't see the info anywhere for beacon.

Most recent divvy from BVS was a cheque...?
Cheers

I must confess FR, I am new to receiving Dividends given 99% of my share trading is Spec related.

Firstly, you will receive you divi, no question.

However, if you did like I did and forgot to quote your TFN on the Automic Registry site, then 40-47% (cant remember the exact %) of your divi will be sent to the Tax Dept

So in effect you will receive about 60% of your div up front, and the rest will be lodged with the T/Man but can then be used to offset any other taxation in your tax return.

I was unaware of the above, even though I did register my Banking details on the Co's share registry portal.

If you havent received your div at all, you will need to register with automic and give your details and TFN.

You might like to contact the Co Sec Sarah Shipway as well to confirm the instructions.

All a bit annoying but this apparently totally kosher in these circumstances. The good thing is, I assume BCN will continue to pay divs in the future (prob 002 per share), so once setup it will become streamlined into your account.

Still learning after 15 years of ups and downs

Anyway, The Atomic reference in BCN recent ANN

Cheers.

The Company also would like to request that you check and update your banking details, please visit the share registry's online Investor Portal – www.investor.automic.com.au/#/home. You can access your account by logging in using your existing username and password - if you do not have an existing username and password click on "register". Once you have successfully logged in, click on "Profile" to provide your banking details.

 

[barney]

ps. No secret I expected the SP to rise after this initial profit/take from the div etc etc

On face value, it is sitting a bit flat after tax is taken into account

But if we compare the BCN chart to most other Goldies, it is actually performing very well.

Its an Accumulate Stock for me because I think in the medium term, particularly if the POG rebounds off it current retrace Lows

The SP can only go higher over time

I don't mind watching paint dry when risk is low, so happy to hold at the moment

 

[frugal.rock]

Cheers Barney.
Had updated Automic and Computershare with bank details but haven't given my tax file number.
At this late stage in the fin year, I don't mind so much about some tax being prepaid, will cut the bill down later.
If it was early in a FY, that would be very annoying....

 

[barney]

Cheers Barney.
Had updated Automic and Computershare with bank details but haven't given my tax file number.
At this late stage in the fin year, I don't mind so much about some tax being prepaid, will cut the bill down later.
If it was early in a FY, that would be very annoying....

Yeah I thought the same.

Secretary Sarah mentioned to me that the "paperwork" will either be emailed or mailed out to confirm the details for each Shareholder so you should get that shortly.

 

[frugal.rock]

Found a decent dividend check in the mail today $1123, and that was after it was hit with the 46.5% tax rate ... good thing we are near the end of the FY.

Will have to update Automic etc with my tax file number...

Still holding. If they had a DRP, I would probably use it.
POG up and around $1745 USD as I write.
Gold miners doing well very recently, recovering after a strong pull back.
Hopefully Beacon is next in the rotation queue to receive some of that love and have the SP bounce off current area as a support level.

Note, recent dividends totalled $0.007 per share and announced when the SP was around $0.035, representing around a 20% return.
(The scalpers loved it...)

 

[barney]

Burning the midnight oil there FR?

Yeah fortunately the divi has covered the current SP downturn.

I thought it might have a little flurry post div but the groundhogs are still nesting.

I would still bet London to a brick that once they announce a LOM upgrade (could still be a few months away, but it will happen)

3.5 cents will be a thing of history. Time will tell.

 

[Austwide]

recent dividends totalled $0.007 per share

Too bad .005 was a special div and not likely to reoccur

 

[barney]

recent dividends totalled $0.007 per share

Too bad .005 was a special div and not likely to reoccur

Agree @Austwide that the special divi was likely a one off, although you never know with the amount of profit they are churning out.

On the flip side, even if they provide another .002 divi in future years (looks likely)

At the current SP that represents a 5.7% return.

Not bad for a minnow Goldie at this early stage of Production

 

[barney]

If they don't plan to sell however, they may try and squeeze the SP down after the dividend is recorded to pick up discounted shares from fringe holders (before any push higher.)

Either way, I expect some movement higher sometime in the next 2 months.

At this point in time we are 3 months in from that statement I made back in Feb, so a bit longer than I expected

Movement has been static, but if i'm any judge, the Accumulation has been right on queue last few weeks

With the POG also looking more bullish, BCN should break the old .038 level once the Accumulators have squeezed the last out of .036

I would still bet London to a brick that once they announce a LOM upgrade (could still be a few months away, but it will happen)

3.5 cents will be a thing of history.

Still stand by that statement and won't be surprised to see Big Cat prowling at the back fence very soon.

Still lots of assays pending but the first few in about 3 weeks ago were a pretty fair indication:-

EXPLORATION

 Follow up aircore drilling at Big Cat intercepted significant gold in primary weathered rock under the paleochannel
along strike from previous results (The majority of assays are still to be returned).

Intercepts include:

o JD21B002 5 metres @ 2.42 g/t Au from 60 metres
o JD21B004 8 metres @ 6.52 g/t Au from 56 metres
o JD21B005 2 metres @ 2.02 g/t Au from 60 metres

 

[barney]

Couple of CHARTS displaying why I'm short/medium term bullish.

Obvious Accumulation at the .034-.035 level lately

Won't take much to see this back at last year's highs in my opinion

 

[Sean K]

Couple of CHARTS displaying why I'm short/medium term bullish.

Obvious Accumulation at the .034-.035 level lately

Won't take much to see this back at last year's highs in my opinion

What's actually driving the SP on this barney? POG, general sentiment, exploration potential? It's a funny little operation. Looks like Mum and Dad with tonka toys working in the Panther Pit.

 

[barney]

What's actually driving the SP on this barney? POG, general sentiment, exploration potential? It's a funny little operation. Looks like Mum and Dad with tonka toys working in the Panther Pit.

Lol @kennas ..... that made me laugh Tonka toys ... Show some respect, lol.

My post 167 above gives a brief rundown of recent "events" but basically the boys who run this show have proven to be doers.

They fast tracked a small Gold operation with modest grades into a working mine in record time and are currently adding around

$4 million per month to the coffers

They have just paid a 7 cent dividend to S/H's (around 15%) and have a Market Cap of around $130 million

Recent drilling looks certain to increase the LOM resource. Not much I can say that isn't good, lol

Market will re-rate if they increase LOM. I think 50% SP increase over next few months is not out of the question

Cheers

ps Obviously I hold and am keen to ramp/ sorry, promote the company