BDG - Bendigo Mining

[Gundini]

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]

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]

Feng theres a delay between actual trade and notify to ASX and company I guess.

 

[Feng]

Feng theres a delay between actual trade and notify to ASX and company I guess.

Hello, Doom

It makes sense. thanks!

 

[Techbuy]

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]

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]

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]

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]

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.

 

[Dr Doom]

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]

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]

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]

its called people taking a position..

its no secret whats going on!

 

[Feng]

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]

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]

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.

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]

Climbing back to the mid thirties again. Hope for holders it's not a dead dog bounce. Maybe some news soon?

 

[Feng]

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]

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]

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?.