BTV - Batavia Mining

[exgeo]

31/1/07 Dec Qtly. Has $7.8m in cash. 114m shares * 11.5c = $13m market cap. This seems pretty cheap so I bought some (not very technical, I know!).

Seems like there's a reasonable chance of their finding more/something else on the ground they already have, and shouldn't be any dilution for some considerable time as they have plenty of cash to explore with. BTV currently have 3.321 Mt @ 5.31g/t Au and 0.76% Cu for
770,000 Au Eq ozs at Deflector.

 

[exgeo]

Oh yeah, meant to mention but forgot - they have $7.8m in cash (from the Dec qtly report).

 

[Football Star]

This one is on the way up. Very undervalued with stock pre consol just on 2c.

12% ownership in THR, cash in bank and gold in ground. Some smart buying in the last few days. Director bought 300,000 a couple of days ago.

Holding at 10c and will build IMO to 15-18c range over next 2 months or sooner.

A great specky

 

[laurie]

Why do you think its on the way up ? one reason.... options due June 07 management's desperate bid to get heads moving otherwise no go

cheers laurie

 

[greggy]

Why do you think its on the way up ? one reason.... options due June 07 management's desperate bid to get heads moving otherwise no go

cheers laurie

I second that. Why is it on the way up?? BTV is cashed up, has a good holding in THR, but BTV has disappointed investors many time in the past.
DYOR

 

[Football Star]

The most obvious reason is that the current market cap of the company is well below NTA and is clearly IMO one of the most undervalued low risk opportunities in the market. They have enough cash with for at least a year or 2 without the need for a capital raising and with the THR opportunity I understand they are on a significant winner. At present the deflector project is valued at less than zero based on the calculations of cash in bank + THR FPO's and Options.

Dont take my word for it. Just watch and see. I have picked a few that have bottomed and then rebounded significantly such as IIN when it was below 50c now around $1.15 and FCN that was below 30c and then went to over 60c.

I just do not see how this could be any more undervalued than it is.

Cheers
Footy

 

[laurie]

The most obvious reason is that the current market cap of the company is well below NTA and is clearly IMO one of the most undervalued low risk opportunities in the market. They have enough cash with for at least a year or 2 without the need for a capital raising and with the THR opportunity I understand they are on a significant winner. At present the deflector project is valued at less than zero based on the calculations of cash in bank + THR FPO's and Options.

Dont take my word for it. Just watch and see. I have picked a few that have bottomed and then rebounded significantly such as IIN when it was below 50c now around $1.15 and FCN that was below 30c and then went to over 60c.

I just do not see how this could be any more undervalued than it is.

Cheers
Footy

lol I was that enthusiastic when I got on a few years ago
cheers laurie

 

[arkady]

Anyone know when further drilling results are due for the Brandy Hill and Rocksteady prospects? Last announcement was the 17th May. A little bit of activity today so it might be getting closer. Here's hoping for great results!

 

[arkady]

Director buying 400,000 shares is always a good sign (announcement last night). With this and CFE I might do very well.

 

[arkady]

What sort of resource estimate are we looking at for the BTV Brandy Hill iron ore prospect? Maybe YT or Prawn might shed some more light on it?

Significant intersections:

o 33m at 33.7% Fe
o 26m at 36.9% Fe
o 29m at 34.6% Fe

 

[arkady]

Of course anyone else who can answer my question is free to do so (just that YT seems to have all the figures lately ) .

 

[arkady]

Given the surrounding iron ore prospects like Mt Gibson's Tallering Peak (Total 22Mil tonnes) and Extension Hill (19.5Mil Tonnes), BTV's Brandy Hill might be around the same in resource estimates - maybe even bigger.

 

[arkady]

A bit of interest shown for BTV this morning. 1 million shares so far which is high for BTV. It must getting close to another ann. as they are assessing the potential scale of the deposit (as specified in the Brandy Hill drilling results on 28/06/07).

 

[spartn]

A bit of interest shown for BTV this morning. 1 million shares so far which is high for BTV. It must getting close to another ann. as they are assessing the potential scale of the deposit (as specified in the Brandy Hill drilling results on 28/06/07).

I brought into BTV a few weeks ago, due to their low Market cap, sellers are really starting to dry up now.

Spartn

:viking:

 

[arkady]

Almost 3.5 million shares and now at 15.5 cents . Things are looking very exciting. Maybe I should have topped up earlier. Probably not too late if the resource they have is large.

 

[arkady]

I'm sure I've got this right but correct me if I'm wrong:

BTV cap: $19 Million @ 16 cents

This includes:

Deflector gold prospect of 770,000 ounces. $111 per tonne op cost + $38 Million infrastructure cost.

Thor shares = 13,000,000 shares @ 32 cents = $4,160,000

Brandy Hill iron ore prospect (great potential pending resource estimate)

+ cash in bank = ??? ($7.2 million April 07)

 

[sleeper88]

Here's some valuation work i've done on BTV, please check it out and comment. Looks pretty undervalued, but everything hinges on a new improved BFS for deflector

Cheers

View attachment BTV.xls

 

[arkady]

Great work Sleeper. Excellent figures. Does seem to prove that BTV is undervalued in respect to Deflector and current cash/shares.

I'm starting to get a feeling that the Brandy Hill resource estimate is going to be much much lower than expected.

 

[Black Range]

I last held Batavia back in 2006 and now feel its almost time to re board the Ship.

Batavia's major area of interest is the Gullewa Project in WA.

Here's an Overview of BTV for all those Interested. P.S. I'm Still awaiting some substantial rise in Volume from my Live ASX Feed Scanner turbotrader before entry.

Batavia Mining Limited has made significant progress on the Deflector Gold-Copper Project, located in the Gullewa Project area, in 2005 and 2006 after realigning its objectives. Further exploration drilling was undertaken on the Deflector Gold-Copper Project which was successful in increasing the Mineral Resource to 770,000 Au Eq ozs. The global resource inventory for the Gullewa Project is now 872,000 Au Eq ozs.

The metallurgical test work program was successful in meeting the key objective of developing a common gravity and flotation process to produce gold bullion and copper-gold concentrate from the oxide, transitional and primary material.

Batavia has now completed a preliminary review of the Bankable Feasibility Study (BFS) completed on the Deflector Project last year focusing on potential enhancements to the project economics by increasing the plant throughput to achieve economies of scale.

The mining review has demonstrated that underground mining rates can average 450,000 tpa, compared with the BFS figure of 230,000 tpa, utilising the same personnel and equipment levels, with the exception of one additional underground loader for a period of 12 months.
At this increased throughput level, the unit operating costs are reduced from approximately $143 to $111 per tonne, a significant reduction of $32/tonne. The capital costs for the process plant and infrastructure would increase accordingly by approximately $11.3 million to $37.6 million due to the increased milling and flotation capacity required.

The estimated capital cost for the processing facility in the BFS was based on the acquisition of all new equipment, the installation of one large mill and excluded the possibility of utilising the existing two smaller mills already located on site. The Company therefore believes that there are opportunities to reduce the capital cost by sourcing plant and equipment from the second-hand market.

Mining costs for the Project were developed on the basis of using contract mining for the open pit and owner-operated for the underground mining operation. Under the increased mining rate scenario, capital costs for the new underground fleet would increase from $10.6 million to $12.6 million.

The review has confirmed that overall economics for the Project improve under the increased throughput scenario, notwithstanding the increased capital required in certain areas. However, Batavia is in the process of developing other opportunities that can assist and complement development of the Project either through joint venture and/or acquisition.

The Company will advise the market as soon as significant progress is achieved in this regard.

I would suggest sit back on BTV and wait for that surge in "VOLUME" Thats the Key, to a timed entry

Cheers from grant64/Blackrange

P.S. Take Note that when the (BFS) Bank Feasibility Study was undertaken Gold Price was Approx $600 P/oz. now $890+ An Increase of 45%+

 

[rogue_investor]

Black Range, thanks for the update on this one.

A couple of comments about your entry strategy: they have not traded below 10c for over 9 months so I think this level is ok to start accumulating; looking at the graph (and characteristic of mining stocks) when there has been an increase in vol the trade price spikes sharply so you (or turbotrader) will need to be quick.