BMX - BeMax Resources

[RichKid]

Re: BMX BeMax Resources

I agree with Knobby about the need for more research. I find many absolute beginners just go off tips or what others are buying alone. There is a whole heap of stuff in the beginners forum on trading plans, money and risk mgmt, technical analysis and other topics which will no doubt assist.

Just for the record I have took some of my capital out much lower down (that was the plan, I couldn't predict how high this would go) and have moved my stop well up from where it was. I think this company stands out from the crowd of other speccies or I would have just sold out and moved on much earlier. However, many risks still exist before full production and sales commence.

It appears another distribution to accumulation phase (a tight range?) has started but it all depends on the market, watch and wait is all I can do now.

Anyone else have any comments or critiques?

 

[RichKid]

Re: BMX BeMax Resources

It appears another distribution to accumulation phase (a tight range?) has started but it all depends on the market, watch and wait is all I can do now.

Well, looks like the next step up, an impulse bar today imo. The last few impulse moves have been successful- just a rough guide, it'll end at some point.

Didn't think I'd be updating this thread so soon.

With Ticor about to go with the new bid, BMX may be one of the few remaining quality emerging minerals plays.

 

[RichKid]

Re: BMX BeMax Resources

Knobby,

Any thoughts on the run up? It's been a great week. I haven't seen anything in the press lately on BMX, maybe some tipsheets going for it, just my guess by some of the small orders.

Another very strong impulse bar today taking it to 28c, closing at 27.5c. Still someway to go befoe reaching previous highs, which is when the real breakout will occur imo.

Great to see the volume continuing on this uptrend. Maybe it'll consolidate next week (I keep saying that but it hasn't quite happened yet, it still keeps running).

 

[Knobby22]

Re: BMX BeMax Resources

The Ginko project was running ahead of schedule with no problems, last report about two months ago. I think the market is anticipating that the next report due soon will show the project is even further ahead.

It has gone up rather quickly but I expect it should stabilise and consolidate at hopefully 30c over the next few months. Assuming project completion in November/December, another run (to 40c?) may occur then.

 

[RichKid]

Re: BMX BeMax Resources

The Ginko project was running ahead of schedule with no problems, last report about two months ago. I think the market is anticipating that the next report due soon will show the project is even further ahead.

It has gone up rather quickly but I expect it should stabilise and consolidate at hopefully 30c over the next few months. Assuming project completion in November/December, another run (to 40c?) may occur then.

I forgot about the project updates, no indication on the co website re next report date or anything like that. Just a wait and see for now, looking to pop over 30c. Support seems to be holding at 25.5c, things have quietened so maybe more buyers will turn up. Only a few months to go now before the typical pre-production stage buyers jump into this little stock for a quick ride. Issue is still project risk as a lot has to be done before the year is out.

Saw this link on the co website, a story from ABC's landline on the Murray Basin and mineral sands: http://www.abc.net.au/landline/content/2005/s1365013.htm

 

[Knobby22]

Re: BMX BeMax Resources

Interesting.
I'm a touch worried about Iluka's continual expansion and I think there is to be another plant opening in South Africa (corridor sands) which may also effect the long term market.

 

[RichKid]

Re: BMX BeMax Resources

Big fall for BMX this week, broken short term trendline, falling towards medium term trendline and possible support in the low to mid 20s. Just a matter of time before something happened. Question now is will it recover or just go sideways, volumes aren't too bad so no huge panic and most of the big holders seem to be on board, mainly profit taking I think. Longterm the current price is very low imo as it'll pick up as we get to production in December and the activity in 1Q 2006. But anything can happen between now and then, fortunately everything is on track so far. I'll probably buy more if there is solid support in the low 20's but let's see how it goes.

 

[Caliente]

Re: BMX BeMax Resources

Hi Richkid, this looks like a good buying opportunity for this company.

My preferred entry point is around .23 - .235

- Tight holdings by the Top 10 (~70%)
- Quality progress of Ginkgo (momentum through to December)
- A REAL plan for the coming 6 months/year for expansion [one of my main focuses now in looking at small/mid caps]
- Solid prices for products (zircon, rutile, titanium,etc.)

I'm putting in an order today

 

[RichKid]

Re: BMX BeMax Resources

Hi Richkid, this looks like a good buying opportunity for this company.

My preferred entry point is around .23 - .235

- Tight holdings by the Top 10 (~70%)
- Quality progress of Ginkgo (momentum through to December)
- A REAL plan for the coming 6 months/year for expansion [one of my main focuses now in looking at small/mid caps]
- Solid prices for products (zircon, rutile, titanium,etc.)

I'm putting in an order today

Hi Caliente,
It has paused in the st downtrend a bit but let's see how it pans out, still up in the intermediate trend (if you can call it that). We'll have to wait for the sellers to finish and see how much buy strength there is. September might be a bit messy so could be some opportunities.
Your entry prices seem to be close to support, all depends on how much you want to risk I guess.
Thumbs up on BMX imo longterm.

 

[Caliente]

Re: BMX BeMax Resources

Hi Richkid, I entered at .235 and its sitting at .245 today. Buying support seems good, and the stock satisfies my criteria for positive growth.

So it all seems good, and you're right, it should be trending north in the run to December.

 

[Caliente]

Re: BMX BeMax Resources

nice little report from this morning's Australasian Investment Review that is relevant

"
Zircon At US$700/t In 2006? You Bet!

Commodity experts at Smith Barney Citigroup recently updated their assumptions for the zircon market and if anything, their conclusions only add further to the bullish sentiment surrounding the likes of Iluka (ILU) and Bemax Resources (BMX).

Citigroup believes that substitution and reduced unit use, which have been important negative factors for zircon usage in past cycles, have become less of a threat in the current cycle.

The world’s largest producer of zircon, Iluka recently indicated its intention to raise prices by US$100/t in 2006. This would take the price to US$725/t. Imagine, only a few years ago, one could buy the metal at US$240/t.

Citigroup analysts have now brought their forecasts closer to Iluka’s and adopted a 2006 zircon price of US$700 in their model. In addition, the specialists now assume that prices are sustained through 2007, and do not decline until 2008. This follows on from their expectation of ongoing supply shortages and limited substitution pressures.

The experts suggest that one of the reasons for the limited substitution pressures may be that the price in Euro has not increased as much as in US dollar."

 

[Knobby22]

Re: BMX BeMax Resources

Good stuff Caliente.

 

[el_ninj0]

Re: BMX BeMax Resources

Based on fundementals, looks like it will turn around on 22cps. Im thinking of shorting and going for buy in at 0.22 and sell out at 0.24.
But its also a good long term prospect

 

[RichKid]

Re: BMX BeMax Resources

But its also a good long term prospect

Agree there, just not sure in the very short term (days to weeks). Nice one Caliente, let's see if those strong price projections keep up.

 

[Caliente]

Re: BMX BeMax Resources

el ninjo, right on. A 0.22/5 --> 0.24/5 move is not a bad capture at all. In hindsight I bought in a little earlier than the support line, but mid-term prospects are strong, so I'm going to keep this stock in my 3 month basket unless something radical happens

 

[RichKid]

Re: BMX BeMax Resources

BMX seems to be following that trendline very nicely.

 

[brerwallabi]

Re: BMX BeMax Resources

BMX looks very nice for all holders MACD look like it will crossover indicating another bullish trend here. I am back into this today Rich I think its got a nice little gain for me.

 

[Caliente]

Re: BMX BeMax Resources

hey guys, the depth is looking very interesting atm. I get the gut feeling that BMX will push through 0.28 on this third attempt. My concern lies as to whether there will be sufficient volume to maintain momentum. Thoughts?

 

[Knobby22]

Re: BMX BeMax Resources

Yes, I agree, a good probabilty of a breakout to 30c, hopefully 28c will become the new support.

 

[Caliente]

Re: BMX BeMax Resources

well that push wasn't strong enough. 0.285, meh, my grandma could do better . Gonna just have to wait till the next word rolls out on Ginkgo. I for one am looking for at least 33c before I drop this baby//