BDG - Bendigo Mining

[Jrowl]

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]

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]

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]

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]

Indicative Price: 0.46

It will close higher than yesterday.

 

[Dr Doom]

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

 

[Sean K]

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.

 

[SevenFX]

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

 

[The Mint Man]

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:

 

[Jrowl]

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]

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

 

[fma007]

I must say, i'm really glad i didn't panic sell this one!

 

[The Mint Man]

I must say, i'm really glad i didn't panic sell this one!

ditto

 

[Freeballinginawetsuit]

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.

 

[SevenFX]

Tight Range between 50c(3.7m)-51c(2.9m)

Most trades placed at 50c(3.7m), so looking shakky here. IMO

 

[chicken]

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...

 

[The Mint Man]

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]

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]

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]

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.