Australian (ASX) Stock Market Forum

BGL - Belleview Gold

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Miner said:
@qldfrog
I think by the allotment policy, bgl has doubled up allocation and provided fill applied amount for application amount more than $5000.

I thought to have received full allocation of $30k.
Now need to double ✔️ ✅️ reading your post.
Click to expand...
I would have hoped so unless the allocation is on multiple phases?
1.5k is all I got and waiting for my refund
 
Miner said:
@qldfrog
I think by the allotment policy, bgl has doubled up allocation and provided fill applied amount for application amount more than $5000.

I thought to have received full allocation of $30k.
Now need to double ✔️ ✅️ reading your post.
Click to expand...
So did you ask for $30k and did you get $30k?
 
qldfrog said:
I looked at the spp..they can de facto allocate as they wish..really...unless sorted which I doubt they will probably soon belong to my blacklist.niw getting my money back...
Click to expand...
@qldfrog
Don't blacklist BGL. It could be your lady luck saved your money. BGL actually made more net losses this year than previous years.

1674673541887.png


I have had a similar situation with BWX. Then I thanked them as BWX shares dropped like hell thereafter. In the case of BWX, they were not fully subscribed and the Directors took the discretion to allocate the shortfall to their trusted friends who also charged markup to do the favor. That was history.
In the case of BGL however, no such discretion was applied the message is loud and clear as published on ASX.
So you have every right to play dumb cards and ask them why you were not an eligible shareholder. No satisfaction then try to raise it with AISC.


1674672887868.png

BTW, I noticed not all directors did get $30,000 worth of shares as per the linked message


Suggest you may consider keeping the ASF audience informed on the outcome. BGL could otherwise will create a precedence for dodgy practices.
 
Thanks Miner for the links
I had exactly 5000 shares at record time (around $5k):
so was allocated 29.18% of 5000 so 1459 which is what I got
=> so not supposed to complain , in any case no legal reason
let's have a quick look:

if I had 100 shares 1000 would have been received
with 5000 shares 1459 received
and max of 30k if i had had a whale portfolio : I did not know you were a whale @Miner ;-)
maybe it is fair just find it not very progressive..whatever;
it was my biggest participation to a SPP ever as I saw that as a buy and forget entry for my investment portfolio.
Obviously my current portfolio is now 0; sold the lot feeling a bit disgusted as soon as i received the allocation.
I actually did a mistake, I should have kept 1 BGL share for the next SPP..lesson..
Might be a blessing who knows, now i need to find another gold miner to have in my investment (not trading) portfolio...
And not sbm...
 
qldfrog said:
Thanks Miner for the links
I had exactly 5000 shares at record time (around $5k):
so was allocated 29.18% of 5000 so 1459 which is what I got
=> so not supposed to complain , in any case no legal reason
let's have a quick look:

if I had 100 shares 1000 would have been received
with 5000 shares 1459 received
and max of 30k if i had had a whale portfolio : I did not know you were a whale @Miner ;-)
maybe it is fair just find it not very progressive..whatever;
it was my biggest participation to a SPP ever as I saw that as a buy and forget entry for my investment portfolio.
Obviously my current portfolio is now 0; sold the lot feeling a bit disgusted as soon as i received the allocation.
I actually did a mistake, I should have kept 1 BGL share for the next SPP..lesson..
Might be a blessing who knows, now i need to find another gold miner to have in my investment (not trading) portfolio...
And not sbm...
Click to expand...
@qldfrog thankfully my last posting with free link has chilled out your head, saved fortune on spending on silk hats by not raising legal disputes and rewarding the shovel operator as "whale". Ha ha. I took it as a compliment because whales live in water and there was no pond near BGL mines. I actually sold my holding after record date having bought them originally @70 cents or so and needed fund to support SPP application. I felt lucky to apply full quota of spp for NIC just to see the prices of NIC have gone down post SPP now.
Try EVN or better NCM.
Sean K is the champ on gold stocks and I found his inclination for NCM. Ironically I have worked in Telfer in 2003 and 2017-19, but do not hold it. Sheer stupidity of my own for sure.
Enjoy our controversial Australian Day and Republic day of world's largest democracy today.
 
Miner said:
@qldfrog thankfully my last posting with free link has chilled out your head, saved fortune on spending on silk hats by not raising legal disputes and rewarding the shovel operator as "whale". Ha ha. I took it as a compliment because whales live in water and there was no pond near BGL mines. I actually sold my holding after record date having bought them originally @70 cents or so and needed fund to support SPP application. I felt lucky to apply full quota of spp for NIC just to see the prices of NIC have gone down post SPP now.
Try EVN or better NCM.
Sean K is the champ on gold stocks and I found his inclination for NCM. Ironically I have worked in Telfer in 2003 and 2017-19, but do not hold it. Sheer stupidity of my own for sure.
Enjoy our controversial Australian Day and Republic day of world's largest democracy today.
Click to expand...
Evn has cost me too much money in the past, as for ncm, I am ill at ease with their PNG mine location, a few tremors and the mine is worthless.it will happen, just do not know when..was in mining myself @Miner but never in gold...
 
the saga continue:
I am looking for my money (30k -1.5k allocation and nothing seems to be on the pipeline, still no cheque in the bank:
I went on BGL website and used the investor email contact to ask some info:
this is the response I got immediately after hitting send:

So did I try to invest 30k in an ASX listed business or
to a lawyer connected to the now dead former manager of the Nigerian central bank???
My dealing with crypto meme was more professional...
 
Last edited:
qldfrog said:
the saga continue:
I am looking for my money (30k -1.5k allocation and nothing seems to be on the pipeline, still no cheque in the bank:
I went on BGL website and used the investor email contact to ask some info:
this is the response I got immediately after hitting send:
View attachment 152329
So did I try to invest 30k in an ASX listed business or
to a lawyer connected to the now dead former manager of the Nigerian central bank???
My dealing with crypto meme was more professional...
Click to expand...
going thru computer share I can find a mention of
1675059143765.png

This seems to have popped up this afternoon so maybe I should just be more patient and now it seems it is coming by cheque mailed today based on newly arrived document under computershare
 
1676964427044.png

MD quits and sells 17 million shares (I think that is about half). Nothing wrong with cashing in your chips. But the timing is interesting considering BGL just completed a massive capital raising... And they keep saying how well things are going.
1676964726256.png

Wouldn't you be waiting just one more year for a "re-rate" once you start pouring gold?
 
The Triangle said:
View attachment 153370
MD quits and sells 17 million shares (I think that is about half). Nothing wrong with cashing in your chips. But the timing is interesting considering BGL just completed a massive capital raising... And they keep saying how well things are going.
View attachment 153371
Wouldn't you be waiting just one more year for a "re-rate" once you start pouring gold?
Click to expand...

Very strange for the founder to step back like this during this time. Maybe he's got some pers issues or other financial things to manage. He's not that old that he needs to step back from a busy schedule is he? He didn't participate in the recent Auteco raising either and has been diluted. Not sure if directors could have bought into it, but I assume so. I owned a pile of Gryphon years ago so have been tracking him. Maybe a new venture is on the cards.
 
Sean K said:
Very strange for the founder to step back like this during this time. Maybe he's got some pers issues or other financial things to manage. He's not that old that he needs to step back from a busy schedule is he? He didn't participate in the recent Auteco raising either and has been diluted. Not sure if directors could have bought into it, but I assume so. I owned a pile of Gryphon years ago so have been tracking him. Maybe a new venture is on the cards.
Click to expand...
I am surprised he sold so many
Large holdings are not that easy to Sell
How long do you think it will take him to Sell the other half?
 
Captain_Chaza said:
I am surprised he sold so many
Large holdings are not that easy to Sell
How long do you think it will take him to Sell the other half?
Click to expand...

Bit of a mystery really.

The explanation seems to be that the company is moving into a different phase and needs different leadership. But, Parsons could have done it for sure. Plus, he's done all the hard yards getting it to this stage. You would have thought that he'd be keen to follow through to production.

Maybe he'll just stay as a major holder. I've got a feeling that he might think his thing is exploration, discovery and development, not production, so he might be onto the next thing.

 
He won't have to prove anything now and has gotten rich by selling overpriced shares he paid peanuts for. "Done the hard yards"? I beg to demur. The hard part is not being another Dacian or Gascoyne; it's mining and processing the gold profitably, particularly in times of high costs and scarce skilled labour. It's a dark omen that he's packed his bags and jumped ship.

Not Held
 
finicky said:
He won't have to prove anything now and has gotten rich by selling overpriced shares he paid peanuts for. "Done the hard yards"? I beg to demur. The hard part is not being another Dacian or Gascoyne; it's mining and processing the gold profitably, particularly in times of high costs and scarce skilled labour. It's a dark omen that he's packed his bags and jumped ship.

Not Held
Click to expand...

I think I was thinking that 'hard yards' are taking a shell to a billion. But, I agree, has a whiff. Not enough explanation. If he was moving on to something else of significance then I'd get it.
 

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