BDG - Bendigo Mining

[The Mint Man]

hey kennas & young Trader,
Just wondering what your thoughts are on this one ATM?, got down to $0.805 today. Although the whole sector & market was down.
For the record I got in a couple of days ago.

Thanks in advance, Cheers.

 

[Sean K]

hey kennas & young Trader,
Just wondering what your thoughts are on this one ATM?, got down to $0.805 today. Although the whole sector & market was down.
For the record I got in a couple of days ago.

Thanks in advance, Cheers.

MM,

With the placement at $0.80, you'd think there's limited downside.

Risks would be another resource downgrade (even though their 'downgrade' was just the reserves and did not effect the total 11m oz measured JORC) or POG being smashed. I think POG is heading back up now, but it's too early to say that with absolute confidence. If it breaks $640, then I think the down/sideways trend is over.

Upside risk is $US dollar weakness sending POG significantly higher, and how about a takeover offer? Come on NCM, NEM, or AGG - time to pounce!

I have not bought back in yet. Sill waiting for the dust to settle.

 

[Freeballinginawetsuit]

so another capital raising

When I started following this company back in 2001 it was around 15-20c, which would be about $1.50- $2.00 in current prices.

Gold has gone from under $300 to $600 yet these shares have nerly halved. Bang up job management.

No wonder Harmony walked away, something is not quite right either with the reserves (and extracting them) or management or both

I do not hold but continue to watch, maybe at 50c (5c) I will be interested again

Management Quotes:
'Might decrease perimeter reserves 30 percent, but that might have no effect on total reserves', ' Management is on a learning learning curve, learning as we go!', that second ones a beauty. Gotta say the insto's must be pissed that some turkey on a learning curve is managing a Company with a 500m cap ( at least it was prior to his learning curve).

I've got a bit of coin in BDG and I'm certainly not impressed with management, I wonder if the CEO has returned from his sick leave (probably induced by his uneccesarily cloudy last announcement).

Gotta say that BDG looks good on paper, I reckon if it wasn't held so tightly by insto's it would probably be a takeover target at these SP prices.

 

[YOUNG_TRADER]

Still on my CFD's, GSL@79c, thinking of dropping GSL down to 75c or so just to be safe,

Considering at 80c its capped at $360m or so and LHG paid $350M for BGF I'd say its a definate takeover target now, just got to get the Insto's Approval, although APS seems to be eager to exist, I'd say there the big sellers of late

 

[The Mint Man]

Considering at 80c its capped at $360m or so and LHG paid $350M for BGF I'd say its a definate takeover target now

Sounds good to me
before I bought I made the decision to hold for a while either way.....sitting waiting,sitting waiting.

 

[YOUNG_TRADER]

lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade

 

[nizar]

lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade

YT no disrespect but why did you buy this?
gold still has alot of work to do and this stock is in a clear downtrend?
does it seem cheap to u?

 

[YOUNG_TRADER]

Agree with everything you said Niz,

Here's my reasons


1. CFD investment here = 1% of my investment wealth

2. No exposure to Gold apart from HLX options (see thread if interested)

3. Most Important: The amount of consildation going on in Gold Sector with LHG T/O of BGF the final straw for me to jump in


Very very cheap right now

 

[The Mint Man]

lol, I woke up this morning after 3hrs of sleep, checked mkts quickly n thought hmm maybe I should drop my GSL on BDG from 79c to say 74c and what do you know stock dropped to 79c, lol I'm hanging on by my teeth to this CFD trade

So your still in?
I wondered if you were sold this morning.
I'll be holding for the moment....

 

[Sean K]

Agree with everything you said Niz,

Here's my reasons

1. CFD investment here = 1% of my investment wealth

2. No exposure to Gold apart from HLX options (see thread if interested)

3. Most Important: The amount of consildation going on in Gold Sector with LHG T/O of BGF the final straw for me to jump in

Very very cheap right now

YT, I think your comparision of market cap and value to BGF was very pertinent. BGF have 1.4m JORC and BDG have 11m JORC, both valued the same? Doesn't add up.

 

[The Mint Man]

YT, I think your comparision of market cap and value to BGF was very pertinent. BGF have 1.4m JORC and BDG have 11m JORC, both valued the same? Doesn't add up.

Good Point.
Not many people looking to sell in comparison to buyers, this has been the story for the last couple of days. more demand then supply. Isnt this good?
Market Depth
BUY
Number Quantity Price
6 108,874 0.795
18 192,235 0.790
13 121,250 0.785
13 235,400 0.780
7 237,900 0.775
11 132,473 0.770
12 198,701 0.760
2 15,000 0.755
30 243,997 0.750
3 36,167 0.720
SELL
Price Quantity Number
0.800 3,347 2
0.805 10,000 1
0.810 113,471 10
0.815 70,114 6
0.820 245,513 4
0.825 28,000 1
0.830 29,600 3
0.835 30,000 3
0.840 33,070 7
0.845 120,287 6
Just noticed Golds also up over $618
(edit: tried to space them but obviously it dosnt let you do that, Cheers)

 

[Profitseeker]

When better production figures come out to reassure the market this should fly. I think we will be looking pretty in about March of next year.

 

[The Mint Man]

I wonder if the CEO has returned from his sick leave.

Just noticed this Announcement:

Bendigo Mining Limited (ASX: BDG) advises that Mr Doug Buerger, Managing Director & CEO, has returned from a temporary leave of absence.
Bendigo’s Chairman, Mr Peter McCarthy said he was very pleased to see that
Mr Buerger is back at work to manage the Company through the next phase of
production and development.
The Chairman is grateful for the extra contribution made by the management
team which enabled the Company to achieve some significant goals during
Doug’s absence. Rod Hanson acting CEO, will resume his role as Chief
Operating Officer.

Cheers

 

[Profitseeker]

I wonder if Doug is happy with the significant steps that were made in his absence?

 

[Sean K]

One of those goals must have been to lose 40% off the sp.

 

[The Mint Man]

up a little this morning hopfully gold keeps going

 

[Profitseeker]

Needs to close above .82 for me to get excited.

 

[Profitseeker]

Looking good for that close.

 

[Caliente]

ok, this has popped up on radar. thoughts from technical traders?

 

[The Mint Man]

ok, this has popped up on radar. thoughts from technical traders?

I think YT has some skill in that area... might want to ask him to add his .
EDIT: I take that back after reviewing post 41 , YT "I'm not much of a tech" Ok mabey he can give fundamentals