BMX - BeMax Resources

[Duckman#72]

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

I hope so because she's sick and getting worse by the day.

 

[Duckman#72]

The announcement Bemax put out late last week was again very positive and emphasised the growth potential of the stock. The question and answer session was quite informative.

The company gives the impression it is being very well managed and has very clear (and attainable) goals for the future. They have good product, have moved nicely from exploration into production and profits are on the board.

It would just be nice to get a little of of the "growth potential" to translate into SP movement north. Down again today!!

As a side issue - BMX has hit the news over the past month through both Brian Burke and Santo Santoro. How? First the easy one. BMX was one of the companies that Santoro bought and didn't disclose to parliament.

As for Burke apparently BMX had signed an agreement with Illuka to take the mining rights from a site near Perth but Burke had it rezoned. He then came back 6 months later to Bemax and offered to rezone it allowing BMX access (under a suitable arrangement). BMX declined the offer.

 

[pepy]

I agree with you Duckman.

BMX have earned some credibility, through delivering their promises on time and on budget - when many others had large cost blowouts due to the resources boom.
Apart from this, the projections for full year earnings puts their PE ratio at 10.7 (on current price of 23 cents), with next year expectations of a PE of 7 (after Snapper comes on stream).

Tony Shirfan's market update is predicting EBIT of up to $60million after the expansion, and although their $130-150million of added debt must be serviced, they have some 50 years of reserves to mine.

There is significant upside to be had from this share over the medium term in my opinion.

 

[Bobby]

What can I say ~ stuff all because of certain rules.

BUT Check the price from today on

Bobby

 

[noirua]

Good to see the BMX share price lifting a bit. Very disappointing so far, but who knows they could get back to the 27 cent mark again, now recent reports are looking a tad more confident.

 

[Duckman#72]

Hi All

I had a look through the Annual Report over the past couple of days. Once again it LOOKS very good. Times, budgets, resources etc.

I was wondering if anyone had actually compared comparative revenue between Illuka and Bemax. Is Illuka are pure mineral sands play?

By my untrained calculations - based on Bemax's net profit for the year Illuka's total revenue sould be something like $1,900M. As it stands it is $1,060M. Has anyone compared the two (pound for pound)?

Reading the Illuka report is depressing. I have been a holder in Bemax for some time but there is bugger all profit in mineral sands. There is a stack load of turnover for not much $$$$.

Does anyone own a geiger counter? Please send it to Lynette Jones at Bemax and quietly suggest that they look for something else while digging at Snapper.

Cheers

Duckman

 

[ta2693]

From my point of view, everything is good. It just lacks a fancy story which can make people excited.

 

[shakes]

Good story for Zircon producers in today's Australian, interesting to see if it helps sp come monday.

 

[Knobby22]

I agree everything looks good.

The thing BMX lacks is a commodity exchange in Zircon and Rutile, so that the traders can get excited, like they do with copper, gold and zinc producers.

 

[Duckman#72]

Good story for Zircon producers in today's Australian, interesting to see if it helps sp come monday.

Go BMX!! They hit 24c during trade today. Maybe the story in The Australian helped. Although I must say they didn't rave about Bemax's resources. I thought the Murray Basin was one of the world's best.

Interesting to hear that there is likely to be a world shortage of Zircon over the next few years leading into 2012.

Duckman

 

[shakes]

We should be getting some drilling results from the Eucla Basin soon, maybe just before the AGM! BMX must have some good news somewhere that will help it's sp.

 

[stargazer]

Hi all

Well this stock was my introduction the stock market and boy its been disappointing sp wise.

Been full of promise but nothing to date. Hurting with this one at this point so am hoping something triggers a bit of a recognition.

Heres hoping
Cheers
SG

 

[ben73]

What is happening with BMX this morning??
Check out the volume!

4 million is a big day, but they have done 30 million this morning in the first 10mins

 

[Duckman#72]

I don't know but they are up to 26.5c on huge volume.

Something seems to have given them a kick along. Maybe Bobby knows.

On second thoughts - don't ask questions!! It might stop the run!!

Duckman

 

[nioka]

Don't read too much into this. The main volume was a trade at 23c on opening and was probably an institutional trade. There has been little trade since and that has been speculation because of the earlier volume. I do believe that BMX is undervalued but for some reason I do not understand it seems to always be that way. There will be plenty of sellers who will take an opportunity to exit if the price lifts a little. ( I'm often wrong)

 

[stockGURU]

The AGM was two days ago. I went through the transcript of Managing Director's address and found the conclusion particularly interesting.

Conclusion

The expansion of the existing Murray Basin Operations is a significant project in its own right and it will deliver a significant increase in earnings.

However, it is important to note that the Company’s resource position is capable of sustaining far more than just two large-scale mining operations (combined mine life of 17 years) in the region.

Over the past year or so it has become very evident that potential now exists for Bemax to increase production from the Murray Basin to around 100,000 tonnes per year of Zircon and up to 200,000 tonnes of Rutile per year. Furthermore, the existing resources are capable of sustaining these production levels for more than 30 years. I am pleased to advise that planning for the development of the balance of Bemax’s Murray Basin resources - beyond Snapper and Ginkgo - is underway.

I look forward to updating Shareholders on the progress with these plans, in the not too distant future.

(emphasis mine)

 

[Bobby]

I'm still trying to find out Who is buying, no-one knows so it seems?
This will become more clear on mondays opening.

They are performing, so recognition of the under value now seems to show with their trading today

Bobby...

 

[Baggy]

Bobby and gang please be aware that there is possibly another mine in the pipeline for Bemax. There should be a ann in the coming weeks I would expect the sp to rise considerably within a few months. I have been hanging with BMX for quite a while and intend to stay for the ride, good luck! I like Bobby live in the same area and talk to people who work there Go BMX
Baggy

 

[shakes]

Did anyone notice the last three trades on friday? They tried to drag the sp down, there were 3 trades under 110 shares. Who ever were trading wanted to be the last trade for the day. The sp dropped to .255 on one of these trades, they even tried to get the last trade through at .225. I expect another large trade will happen monday morning at fridays close price. I could be wrong, but I'm hanging in there.

 

[Bobby]

Well what is going on ? -- stuffed if I can find out ?

I'm almost tempted to buy more on tomorrows opening ! EVEN THOUGH I have held heaps for over 18 months...

Tell me more Baggy __________ """

Yes Shakes you will see that often, its just game play !

Cheers Bobby..