BGL - Belleview Gold

[Sean K]

Interesting.

Would have been more interesting at 65 cents last June.

 

[debtfree]

Time for a chart update to see what has happened to the price of BGL over the last 7 months since the last post. But before that a little snippet from Stockhead on BGL.

 

[peter2]

Seems like a few who read the Stockhead report decided to buy yesterday when all the other gold producers fell after O/N POG dropped below $US2000/oz.

Including me.

 

[rcw1]

Good evening
Nice gain today (19/03/24) in SP on the back of an excellent announcement (see attached). Assays of up to 374 g/t gold show the grade of this new shoot will significantly exceed the Resource estimate in the area; Drilling also highlights potential for six more similar shoots.

Exceptionally high-grade ore shoot defined at 1.4Moz Deacon ore body with assays significantly higher than those in the Resource estimates used for mine planning.

Not holding.
Have a very nice night.


15 minute chart

 

[peter2]

BGL has been on a tear lately and I'm a happy holder.

It's been a mixed bag for gold miners during this rally in the POG. I'm holding BGL and PRU which have rallied nicely but I'm also holding GOR and RRL which have dropped quickly after an initial rally.

It pays to hold a hand full in order to get into the one that rallies the most.

 

[rcw1]

Good evening
All time high today (21/03/24)

3-minute chart

Not holding
Hmmmmm

Have a very nice night

Kind regards
rcw1

 

[Sean K]

How can we trust any of these companies?

 

[Dona Ferentes]

20 per cent drop today

 

[Miner]

20 per cent drop today

Poor installation with million dollar pay check struck a dodgy deal.
Rights other than instos unless prices are jacked up Dealer and Digger conference etc, will fall through. Then underwriters will buy with discount.
On a medium term BGL will rise by the end of Aug.
Sound I put my tip?.dunno.
any one can come without distraction on my post.

 

[Miner]

Poor installation with million dollar pay check struck a dodgy deal.
Rights other than instos unless prices are jacked up Dealer and Digger conference etc, will fall through. Then underwriters will buy with discount.
On a medium term BGL will rise by the end of Aug.
Sound I put my tip?.dunno.
any one can come without distraction on my post.

Poor instos. Not Poor installation

 

[Miner]

I thought last Friday was the worst day for BGL but reading the Trading View's chart, it appears I was wrong.
Any gold diggers can please comment on the BGL crash and the future. What the charts say @Skate @DrBourse @Sean K @peter2 et.al
The short term perspective could worsen (?) but there is almost same song in 12 months forecast

 

[DrBourse]

I thought last Friday was the worst day for BGL but reading the Trading View's chart, it appears I was wrong.
Any gold diggers can please comment on the BGL crash and the future. What the charts say @Skate @DrBourse @Sean K @peter2 et.al
The short term perspective could worsen (?) but there is almost same song in 12 months forecast

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@Miner ....

Don’t know anything about BGL, BUT a quick look at everything Financial & Technical tells me that BGL is just an overpriced Penny Dreadful…..

Book Value suggests a SP of about $0.80c to $0.90c….. Debt has Risen substantially….. ROE & ROC are terrible…. Did not look any further into their Financials….

Everything Technical points DOWN or Sideways….

Recent Announcements Do Not inspire confidence….

Did NOT look elsewhere for additional information….

Not my type of stock…. Sorry about that M8….

Their EOFY Financials are due late September, but that pullback 26/7/24 suggests that a lot of punters have made an early call…

 

[Skate]

I thought last Friday was the worst day for BGL but reading the Trading View's chart, it appears I was wrong.
Any gold diggers can please comment on the BGL crash and the future. What the charts say @Skate @DrBourse @Sean K @peter2 et.al
The short term perspective could worsen (?) but there is almost same song in 12 months forecast

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Hey @Miner, I see you’ve got all the information and screen captures from TradingView at your fingertips. Remember, trading is a personal decision, and asking a group of people for their thoughts can be risky. You might end up with a series of conflicting opinions, and it can be challenging to decide which one to follow. If all the replies were negative, would you keep asking until you found one that aligned with your current thinking? It’s crucial to trust your own analysis and make informed decisions based on your research.

In saying that, Bellevue Gold Limited (BGL) had a rough time recently, with a significant drop in its share price. The crash was primarily due to a sharp pullback in the gold price and the announcement of an institutional placement at a discount.

In the short term, the outlook might remain challenging due to the higher-than-expected costs projected for FY 2025. However, analysts are optimistic about the long-term prospects. The 12-month forecast suggests a potential upside.

# This ASX 200 gold stock is now down 8% since this time last year.

Read this: https://www.fool.com.au/2024/07/26/why-is-this-asx-200-gold-stock-crashing-27-today/

Skate.

 

[TimeISmoney]

Looking like a hot buy this morning.

(Not holding, only window shopping)

(

 

[Miner]

Looking like a hot buy this morning.

(Not holding, only window shopping)


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My speculation is, the heavy purchase an opportunity buy. With the prevailing prices, any retail share holder under SPP will buy from market than buying at a higher price under SPP.
Some funders could be accumulating to get the average price levelled.
The gold price was slightly higher after all Iran and Hamas incidence.
With high vol, the price has not moved much.
So in a week's time it should return to south again.

 

[bettamania]

My speculation is, the heavy purchase an opportunity buy. With the prevailing prices, any retail share holder under SPP will buy from market than buying at a higher price under SPP.
Some funders could be accumulating to get the average price levelled.
The gold price was slightly higher after all Iran and Hamas incidence.
With high vol, the price has not moved much.
So in a week's time it should return to south again.

Gold stock is a little bit slippery. After off loading a few gold stocks with a bit of gain, I will stay away and look at how this market develop in general and particularly gold. You may aware, when the market is up ; there are so many talking heads on in this forum. but when the market is drop; all the sudden this forum is so silence similar to a ghost town ( Has this got something to do with cold or maybe Christmas in July? ).

As with BGL I think this one has a potential too drop. I might be wrong but let see if this blast from my past still working.

Again this is my personal opinion not a buy and sell recommendation

 

[Miner]

Gold stock is a little bit slippery. After off loading a few gold stocks with a bit of gain, I will stay away and look at how this market develop in general and particularly gold. You may aware, when the market is up ; there are so many talking heads on in this forum. but when the market is drop; all the sudden this forum is so silence similar to a ghost town ( Has this got something to do with cold or maybe Christmas in July? ).

As with BGL I think this one has a potential too drop. I might be wrong but let see if this blast from my past still working.

Again this is my personal opinion not a buy and sell recommendation

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Good point. Couple others have already cautioned about BGL. Have not heard from @Sean K who smells gold like Paddy Hannan, yet.
My call is to see my Aug tip on BGL to shine.

As a miner and on my geo political perspective, I believe Gold as a commodity, has a good future regardless if it is with BGL or not.

 

[peter2]

I was holding BGL when they surprisingly announced the capital raise and I was very disappointed with the discount offered. The market seemed to be disappointed with it as well. However we can't do anything about that. My only concern is, do I continue to hold, sell or buy more?

I've read the Chairman's reason for the capital raise and what they're going to do with the extra capital. It's a reasonable narrative and I'm unable to be critical of their plans. I dislike the size of the discount though. The capital provider is going to make out like a bandit in six months time. (*)

I've bought some more (3/8) in a low activity portfolio that has plenty of available cash but will sell if price closes below 1.30.

(*) If I think the capital provider is going make an above average gain in 6 mths then I think that BGL will be > 1.55. Naturally I should buy more with a tight sell stop.