BMX - BeMax Resources

[Bobby]

Come on Bob...

You've been here long enough to know you gotta do a bit better than that. Can you give us some specifics and point us in the right direction. Why do you like this stock?

Hello Joe,

This stock is in my own backyard, I speak to those who work there.

I do look into the fundamentals that affect why I hold.

Thats why I stated in my past post - check it out.

Regards Bob.

 

[Duckman#72]

I have a few BMX. I keep saying "I must hang on to this share." The fundamentals are sound, aren't they?

Hi Nioka and Sandik

From my limited experience of reviewing and understanding fundamentals for mining companies - yes all seems in order. They consistently keep the market informed with update (primarily good). Over the past 18 months they have rolled out expansion plans on time and on budget (which considering the resource shortage has been impressive). But SP doesn't budge!!!

Just annoying when you see that the Image Resources SP wasn't far off BMX's mid last year. Wrong mineral sands play(for the moment).

Bob - glad to hear your still holding!!! - Please keep us informed of any news from down south.

Regards

Duckman

 

[Duckman#72]

BMX released its quarterly report today.

I know that ASF are cracking down on SP predictions but I'm going to go out on a limb here.

If the report is favourable IMO the share price will finish the day at .........say 27-28c. However - if the report is unfavourable, the SP might finish the day at......27-28c.

Cheers

Duckman

 

[clowboy]

BMX released its quarterly report today.

I know that ASF are cracking down on SP predictions but I'm going to go out on a limb here.

If the report is favourable IMO the share price will finish the day at .........say 27-28c. However - if the report is unfavourable, the SP might finish the day at......27-28c.

Cheers

Duckman

ROFL

 

[nioka]

BMX released its quarterly report today.

I know that ASF are cracking down on SP predictions but I'm going to go out on a limb here.

If the report is favourable IMO the share price will finish the day at .........say 27-28c. However - if the report is unfavourable, the SP might finish the day at......27-28c.

Cheers

Duckman

You certainly got that wrong. I thought the report was in the middle, not good or bad. The market has caned it. Any ideas why?

 

[Duckman#72]

You certainly got that wrong. The market has caned it.

Damn 1c out! At least it is nice to know that the SP can be moved - even if it is in the wrong direction.

IMO it wasn't one of Lynette Jones' best Media Releases. Nothing to shout from the rooftop about.

Duckman

 

[nioka]

Damn 1c out! At least it is nice to know that the SP can be moved - even if it is in the wrong direction.

IMO it wasn't one of Lynette Jones' best Media Releases. Nothing to shout from the rooftop about.

Duckman

I guess 1c isn't too bad. ( I think it was 3c when I posted but then things improved a little) A lot of sellers lined up at 0.285 and not a lot of buyers so I can't see much change in the near future.

 

[chicken]

BMX just released news on the Ginko mine...looking very good...bar the SP...maybe when the figures are released the SP might move...lots of traders have been caught but a investor long term will do well...maybe not flavour of the months needs a U in front.....but showing great progress with upside here...

 

[pepy]

I was just reading up on ASX Index rules. Apparently they track market capital over the trailing six months, average it, and also consider a thing called market liquidity - which seems to be related to trade volumes, although I am not completely clear on this.

Anyway, my briefing document says ASX 200 ranges from market cap of 101billion (that would be BHP Billiton, of course ~smile~), down to 0.2billion.

I searched for ASX200 constituents, with their market cap data, but cannot find it so far...any help out there???

Bemax already participates in ASX 300 (but that is nothing special), and has a market cap of $235 million (so Comsec tells me) based on 25 cents.

We are all (at least those of us holding it) waiting for their results, which will include sales from Ginko mine for the first time, and should bring their revenues up to $80mill+ for six months (if not closer to $100mill).

My question, is when ASX will include it in the 200 list????

I hold (at prices above current market value)

 

[Knobby22]

Good day to release the half annual. This company can't take a trick! :

 

[Joe Blow]

BMX back to yesterday's close now.

Here are some details from the half annual:

28 February 2007

BEMAX 2006 FULL YEAR RESULTS

Bemax Resources Limited (Bemax) today announced a 2006 full year net profit of $4.8 million, an increase of 269% compared with the $1.3 million profit reported for the year ended 31 December 2005. The higher profitability was mainly due to increased production and sales and an overall improvement in product prices compared with 2005.

Production from the Company’s Western Australian operations increased by 35%, which together with a second-half contribution from the new Murray Basin operations (completed and in commissioning in the first half of 2006), enabled Bemax to achieve record Heavy Mineral Concentrate (HMC) production of 741,857 tonnes. This represents an increase of 168% compared with HMC production of 276,353 tonnes in 2005.

Sales revenues increased by 49% to $80.2 million, compared with $53.8 million in 2005. The Western Australian operations contributed $50.6 million in sales and the balance of $29.6 million in sales came from the Murray Basin operations during the second half of the year. It should be noted that the Murray Basin operation has a relatively long supply and processing chain and as a consequence the value of its inventory (work-in progress and finished goods) was $26.7 million at the end 2006.

The growth in earnings flowed through to operational cash flow, as highlighted by a 237% increase in EBITDA to $26.3 million, compared with $7.8 million in 2005. EBIT (after allowing for $13.5 million in depreciation and amortisation) increased by 412% to $12.8 million, compared with $2.5 million in 2005.
Bemax’s Managing Director Tony Shirfan said “The improved 2006 financial performance demonstrates that Bemax has completed the transition from an explorer with development aspirations, to a company that has a strong operational base (now the fifth largest Titanium feedstock producer in the world) and clearly identified growth opportunities.“

“The key factor in the transition process (which started in 2004 with the acquisition of Cable Sands mineral sands assets) has been the development of the new Murray Basin operations on schedule and within budget. The successful execution of the first large-scale project in the region has proven the Company has the capability to develop projects in this region, even at a time when many in the resources industry have experienced significant project delays and/or significant project cost over runs”.

He said that during 2006 the Company had also made considerable progress in other key areas including:

• exploration in the Murray Basin (which is focused on locating and defining Titanium and Zircon rich deposits within close proximity of the existing infrastructure) achieved a 25% increase in regional Heavy Mineral Resources and a 100% increase in Heavy Mineral Reserves;
  
• development planning for the second Murray Basin Mine, the Snapper Mine, progressed to the stage where the Company has completed detailed pre-feasibility studies and has lodged the environmental assessment documentation. The next phase in the development program will be to undertake detailed scoping and design work from which the budget and timetable will be established. It is anticipated at this stage that construction and commissioning will occur over 2008 / 2009;
  
• design and engineering requirements and statutory approvals to expand the Mineral Separation Plant in Broken Hill are also either well advanced or already in place. Future expansion plans can now be implemented with minimal lead time and it is anticipated at this stage that construction and commissioning of a secondary mineral circuit will also occur over 2008/2009;
  
• the re-purchase of Zircon marketing rights for the Ginkgo and Snapper deposits Zircon production. Previously the Company had contracted to sell its Zircon production on an agency and commission basis, an arrangement that dates back to the pre-feasibility stage of the Murray Basin project. Whilst the re-purchase of the marketing rights requires an investment of US$9 million over three years, the opportunity to brand and develop the market for its own expanding and increasingly valuable Zircon production is worth considerably more to Bemax in the medium-to-longer-term; and
  
• development of an additional revenue stream from the sale of Primary Ilmenite from the Murray Basin operations. This product has relatively low TiO2 ,and elevated chrome levels resulting in it initially being stockpiled. However, in late 2006 Bemax sold product into the Chinese market for the first time and has since received additional orders for this product and a further refined product which is produced from the Primary Ilmenite using existing processing circuits.

Mr. Shirfan said “Based on the achievements over the past 12 months, Bemax is now extremely well placed to expand the production of Titanium minerals and Zircon from its Murray Basin operations through the development of the Snapper Deposit and improve the production efficiency (through the installation of purpose-built Rutile and Zircon circuits) at the Broken Hill Mineral Separation Plant.”

 

[It's Snake Pliskin]

Hi Joe,

Where do you see BMX going?

 

[Bobby]

Notice that they held up!

Bob

 

[It's Snake Pliskin]

Notice that they held up!

Bob

Bob,
they are probably at the point of accumulating having sold off so much already.
I am waiting to take a position.

 

[Bobby]

Bob,
they are probably at the point of accumulating having sold off so much already.
I am waiting to take a position.

Snake I can't say anything, ( see past comments I made) .

Bob

 

[It's Snake Pliskin]

Snake I can't say anything, ( see past comments I made) .

Bob

Bob,
Look at today's action. Moderate volume and a close up from the selloff. Where is the supply?

 

[Freeballinginawetsuit]

No surprises here, its moved as much as the cobwebs under my bed. Go figure big old ILU is under the pump and little old BMX always settles to the mean.

The open move was strong.

 

[Duckman#72]

Hi All

Would anyone care to post a chart of the past 2 months and comment?

I would have thought that it's just slowly making lower lows over the past few weeks.

Regards

Duckman

 

[Knobby22]

Taking longer to make money than expected.
Still dropping, still looking.

 

[shakes]

Research report & production report coming mid april, this may help sp.