BDG - Bendigo Mining

[Freeballinginawetsuit]

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]

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]

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]

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]

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]

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]

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

 

[Jrowl]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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

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

 

[Dr Doom]

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]

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.