BDG - Bendigo Mining

[jonnycage]

gaining momentum ? more cash freeing up, picked up a reasonable
parcel at 24 cents last week, and gold up again.

anyone following ?

jc

 

[Uncle Festivus]

I'm still out, still waiting for a general pullback? I think BDG have some good fundamentals now, slowly & surely the lesson in over estimating reserves has turned them ultra conservative. Steadily rising cash at bank and fully funded, with excellent grades. Timing the entry.....

 

[McCoy Pauley]

Following this one with a little bit of interest as it seems to be one of the few gold explorers on the ASX which hasn't yet benefited from the increasing gold price internationally. Still seems to be bumping around the range of $0.22-$0.27 in the last 3-6 months (though it peaked twice at about $0.31 in May).

BDG announced on 20 November that the results of initial explorations at Henty and Kangaroo Flat were positive but that still didn't pique the market interest very much.

The Age had an article about BDG in yesterday's paper.

http://www.smh.com.au/business/bendigo-needs-big-find-to-pep-up-shares-20091202-k4ku.html

 

[MiFFy]

Would be nice to find some more Gold reserves at Henty.... having worked there myself at one stage and still knowing a few people there....

There is not much known reserves left.... a nice strike could see some nice profits....

 

[roland]

Bendigo's mining performance is coming along nicely - and they have some impressive AU resource statistics.

I am a little worried about the $900 per ounce cost of production. Is this a little higher than peer gold miners?

 

[roland]

BDG's positive cash flow of $5Mil obviously fell short of expectations.

A couple of negative comments from the report:

Henty Gold Mine produced 9623 oz at a cash cost of $963/oz whilst the
Kangaroo Flat Mine delivered 8124 oz at A$1009/oz. Transitional issues at
Henty continue to impact on grade. A $3.8 million capital investment
program was approved with a new loader delivered late in the quarter, along
with a hired truck and jumbo drill.
• Kangaroo Flat production was affected by the addition of known lower grade
reefs into the mining schedule.
• Company production guidance of 80-90,000 oz for FY10 is maintained but
achievement depends on a strong June quarter and in particular the realised
grade.

Anyhow, nearly $60Mil in cash and positive cash flows can't be all bad.

 

[Happy]

0.195 tripped my entry signal, stop sits now at 0.17

With 0.5 cents dividend in pocket, loss will be little bit smaller if stop triggered.

 

[Happy]

BDG - stop moved to $0.185

Once new high $0.24 reached, stop will go under current retracement unless retracement trips my stop.

But this is moving too far forward.

 

[roland]

BDG - stop moved to $0.185

Once new high $0.24 reached, stop will go under current retracement unless retracement trips my stop.

But this is moving too far forward.

certainly not the fastest moving stock on the board. I'm sitting in profit, but only just.

 

[roland]

A little smack in the face this morning with the BCD issue. Nice healthy recovery though giving us a 4.55% rise. $0.23 seems to be a short term hurdle, maybe if POG rises overnight we may have a little run.

WTF is BCD doing? They take the $$'s and default on the agreement, then run off to the courts for some sort of stalling tactics.....

 

[Happy]

Jumping a gun by about 2 hours and 30 minutes, but if nothing major happens between now and 4:10 PM stop will be moved to $0.20 effectively moving position into break even area plus dividends as bonus.

It is hair rising to know the fundamental side of price action.
With my technical trading I feel that I am often oblivious to pending disaster.

Having said that maybe this is blessing, as by nature I am bit jumpy and easily emotionally swayed by experts’ comments.

 

[roland]

Take it as it comes, and have a clear exit if it falls back. 25.5 just taken out and the gap filled instantly. I've sat on this for 7 months and nothing is going to take away today's pleasure

 

[Happy]

Moved BDG stop to $0.205

I know almost meaningless move, but I did this while anxiously waiting for logical reason to bump my stop to $0.24

 

[pedalofogus]

Hi Guys,

I notice there are a few watchers of BDG on ASF. I am currently looking at this one as a potential addition to my portfolio.

It seems quite good as it has some $$$'s in the bank and some resource in the ground. And fundamentally it seems pretty good, however the market seems to be pretty bearish on it (until recently).

On the charts it seems like a reversal down to say 22-23 isn't out of the question in the short term, and this is when i would be looking to make my investment.

Just keen to hear any comments that long term watchers of this stock may have?

Cheers
Pedalofogus

 

[Sean K]

Hi Guys,

I notice there are a few watchers of BDG on ASF. I am currently looking at this one as a potential addition to my portfolio.

It seems quite good as it has some $$$'s in the bank and some resource in the ground. And fundamentally it seems pretty good, however the market seems to be pretty bearish on it (until recently).

On the charts it seems like a reversal down to say 22-23 isn't out of the question in the short term, and this is when i would be looking to make my investment.

Just keen to hear any comments that long term watchers of this stock may have?

Cheers
Pedalofogus

It might pay you to go back to this thread to about 2007 or so when the stock started running down hill and then off a cliff. Was all due to the deposit, not actually producing anything. Much like CTO is doing now. They claimed millions of ounces but when they started mining they just dug up dirt. Had no idea of the deposit and where the gold was, if any at all. So, the had to go back to exploration drilling to work out where the gold was. I'm not sure if they know yet.

 

[pedalofogus]

It might pay you to go back to this thread to about 2007 or so when the stock started running down hill and then off a cliff. Was all due to the deposit, not actually producing anything. Much like CTO is doing now. They claimed millions of ounces but when they started mining they just dug up dirt. Had no idea of the deposit and where the gold was, if any at all. So, the had to go back to exploration drilling to work out where the gold was. I'm not sure if they know yet.

Thanks for the advice, i have gone back and looked at the time frame you talk about, and it does make you wonder whether the management knew what they were doing.

More research needed i think.

Cheers
Pedalofogus

 

[roland]

Now here is a problem, cash cost for production is $980/oz compared with IGR's $574/oz. No wonder they are looking at Africa

 

[roland]

Now here is a problem, cash cost for production is $980/oz compared with IGR's $574/oz. No wonder they are looking at Africa

It's worth noting that 6 months ago the cost was $980/oz. If the costs keep going up then they are better off keeping it inb the ground

 

[Happy]

Another little move for my BDG stock stop to $0.21
Funny that gold price is daily published in US Dollars which are going down, so glod price seems to be going up. (Nice trick)

 

[Happy]

BDG stock moved to $0.215

Stop did not have to go up, as I cannot see any clear signal, but every week there is lost income opportunity if money was given another job, like in a Bank account.
And this stock moved enough to support stop move too.