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BMX - BeMax Resources

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Yes, it hasn't gone down. And from its history, I doubt it will go up much soon.

They were lucky they got their long time finance before the credit crunch really hit.

The real upside I can see is related to Auspac's fortunes.
If Auspac can get their technology happening tothe next stage and if the iron price holds up, BMX will get rerated.

We are looking at least 9 months away and that will also let us know whether the upgrades to create greater supply from BMX will also occur. All good stuff but frustratingly long term.
 
Bemax continue their magnificantly consistant sideways movement. Profits were well up in the first half, before tax however, at $83.7 million against just $24.8 million last time. March Quarter highlights: http://www.asx.com.au/asxpdf/20080430/pdf/318v7p8v1wz0vw.pdf No interim dividend though and it does look to be a plodding on situation that bill bear fruit eventually.
As knobby22 says, "it's lucky they got all their financing in place", and I hope he's right, "9 months time".
Will wait quietly for the big day.
http://www.bemax.com.au
 
I am a shattered Duck.

A quick background - I first bought BMX in 2004 and have held for over 4 years. My average buy in price was approximately 25c. I have been with Bemax faithfully over that time watching and monitoring its performance (or non-performance) with deep sighs and clenched fists. Until last week........... when I SOLD MY TOTAL SHAREHOLDING!!!!!!!! Post after post I would lament with Bobby, Knobby, Noirua, Noika and others about the undicovered diamond that was BMX!!!

A week later........just a lousy week later...... and they make an announcement concerning a TAKEOVER!!!!!!!!:

What sort of sick puppy is the Stockmarket God?? Just pluck me alive and stuff me for Christmas - it would be less painful!!

Duckman
 
Don't be shattered. They have such a bad record that the price probably wont be great. I'll be looking to see who gets them, their buyer may be able to do something with their resources and THEY could be worth having.??????
My first job was as a trainee industrial chemist with a mineral sands firm so I have had a sentimental interest although I don't allow the sentiment to interfere with an investment.
 
I feel for you Duckman.

I did a similar thing when Qantas had the takeover offer. Sold a wekk before, could have got an extra $1.20 per share!

BMX is a diamond and I would hope for at least a 30% premium to the present price. The remaining holders are true believers who will not part with the company lightly. Earlier in this thread I was hoping for 80c. I still think this is near the true value and that is why this takeover offer has taken place.

We shall see.
 

Thanks Knobby

Announcement - Takeover by Cristal - 32c.

As per usual BMX - not much to write home about, even with a takeover offer. Will it be accepted by shareholders?

Duckman
 

Ohhhhhh Duckman that really really isn't fair, I feel for you, thats just not fair!!!!!!

Personally I'd curl up into a ball for a few days adopting the featal position

on a side note, amazing how many takeovers are going on or rumoured in the resource sector at the moment
 
Duckman,


i too feel for you but realise you are not robinson crusoe on this. . . .as you already know, the timing thing is so important in this game and the gods do like to play their own games just like the guys that manipulate the market. . .

life is hopefully a balance so expect there to be well timed ones to cover the BMX one. . . .
 

Hi YT

Your post is more ironic than you could imagine.

I used the BMX money to buy into DMC. Might balance out Max!!

I know 32c isn't much but I would have just liked to have been on the rollercoaster when something happened.

Duckman
 
Hi all

Yes i was also one of the BMX believers having bought in at 36c and waiting for the stars. Sold out at 30c too the loss bought back at 22c and got out again 25c got so frustrated with this one. Bought into CUL which as it turned out hasn't been too bad.

Was there any clue something brewing with this in regards to a takeover?

What or is there some signs one can look for i would think
announcements and volume? Before the media get hold

Cheers
SG
 
I've been sitting on this one for not far short of 2 years and low and behold they've just got on their bike and over 30 cents. A takeover bid helped me out of trouble with a reasonable profit - bought for all the wrong reasons.
 
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