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GDO - Gold One International

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Re: BMO - BMA Gold

And they owe more than the remaining cash.
Liquidation will probably follow.
 
Re: BMO - BMA Gold

Well, it was nice knowing it. All I can say I've become a lot wiser since I started with this one, and got out in time to miss the big fall to 10-14c - and when it reopens, to where? 5c before delisting?


Remember kiddies, no matter how optimistic people are, and no matter how much number crunching the fundamentalists do, it sometimes all goes a bit 'skewiff'. Importance of having a plan, blah blah.


:)
 
Re: BMO - BMA Gold

Bad luck to those who got burned - i know how you feel as a veteran of GTM... pick up the peices and move forward - p###ing and moaning won't help (not that anyone here is doing that - yet)... I found another share that has blown my losses in GTM out of the water - if i had walked away from speccies (or become more risk averse - it wouldn't have happened)...
 
Re: BMO - BMA Gold

I actually had high hopes for BMO and bought in around 20c level mid last year,

I watched it soar to 46c, before tumbling back, I gave the comany a chance to let its story unfold, as soon as I realised management were **** I sold around 30c I think for a nice profit.

My rule is with Miners once management dissapoint sell, then wait and see, if they get it going again maybe buy back in (you'll probably be getting in alot cheaper than your exit)



I reckon this will get as low as 4c when it comes back on
 
Re: BMO - BMA Gold

Good night - and god bless...　Another dodgy goes to the wall... I have to say - this does not bode well for the small end of the gold mining sector... BTW the p###ing and moaning is not here - just go to hotcopper to get your fill... GUYS - limited liabilty does actually have a meaning (you can`t have it both ways...)... This sucks and i say this as a non-holder... Virtually a carbon-copy of GTM... All that therapy gone to waste...
 
Re: BMO - BMA Gold

Well looks like the lessen is avoid small gold companies that either

A) Use DEBT to fund their projects

B) Use Hedging, forawrd selling lots and lots of gold

Victims CRS, GTM, BMO

Could follow BDG, ARX, GLN

Oh and Sodapop "I pity the fool" (Mr T) who tried to bottom pick BMO :p:
 
Re: BMO - BMA Gold

I guess we should never play small producer. On the other hand, small explorers are the best, they never go broken. The worst case is you can own trillions of shares with a few dollars!
 
Re: BMO - BMA Gold

mmmmining said:
I guess we should never play small producer. On the other hand, small explorers are the best, they never go broken. The worst case is you can own trillions of shares with a few dollars!
Click to expand...


Nah Mmmming

I reckon the lesson here as with CRS and GTM is

Avoid small gold companies that either

A) Use DEBT to fund their projects

B) Use Hedging, forawrd selling lots and lots of gold
 
Re: BMO - BMA Gold

Why is it that small co's get the blame also for large companies that hedge and blow up too
SGW, Centaur, even NCM have issues with hedgebooks

2 went bust because of the hedgebook
 
Re: BMO - BMA Gold

YOUNG_TRADER said:
I have been posting about this one in the Gold Sotcks thread for a few weeks now,

IMO it is the best small/mid cap emerging producer

Shares: 250m
Price: 30c-32c
Mkt Cap: $75m-$80m
Produce: 50,000oz's Au @cash costs of between $250/oz - $280/oz
Margin: (Assuming LT Gold Price $700AUD currently $720+) $400
Estimated Operating Cash Flow: $20m p.a.
Mine Life: 5yrs with expected resource increases to support 10yrs+
Resources: Approx 430,000 oz's


No debt, unhedged


Once further drilling is completed to extend the exisiting resource management plans to ramp up production to 100,000 oz's Au p.a.

Target price: 50cents
Other: Will experience some short term overhang from SPP@28c until end of month


I challenge anyone to find a better Gold company for under $100m
Click to expand...


LOL
 
Re: BMO - BMA Gold

Yeah funny isn't it,

Maybe you should remember that post was on the 12th March 2006

When BMO was an emerging Mid Cap producer, completely unhedged and forecast production of 50k oz's p.a. in an environment where the gold price was at $720 US/oz


I sold and subsequently updated my postings on BMO with I don't like it anymore because they failed to meet production forecasts and loaded the company up with Debt

I liked ARX too but again delays and debt loading caused me o change my opinion.

Opinons and valuations are not STATIC (It seems you Seneca60BC may not understand this) rather they are dynamic, altering based on a number of variables, hence when Directors fail to meet promised production levels and require debt etc to get project going on top of many SPP's it signals Sell which I did, at a profit too!

Oh and see the price target of 50c I made on 12th March 2006, well it hit 46c about 2 months later
 
Re: BMO - BMA Gold

OK I understand. Hey what is going to happen to those who have shares in this company? Will they see their money again?
 
Re: BMO - BMA Gold

I doubt it and if they do it'll only be a tiny bit, as they'll probably fire sale the assets pool mall the cash, pay off all the creditors, ie loands/debts outstanding salaries wages etc and then with whats left distribute it to shareholders,

I'll give you a heads up watch ARX and GLN I reckon they'll follow suite,

ARX cause they loaded the company up with **** LOADS OF DEBT

GLN cause they've forward sold alot of gold!
 
Re: BMO - BMA Gold

BOM

Has money to pay back all creditors. Yippy

It will have 6 to 7 million left for sharholders, so they will see about 40% to 30% back on each share.

Not the worst news and at least they had things to sell and sell well they did.

regards

tinkus
 
Re: BMO - BMA Gold

whats that mean? how much shall we get?
3-4c per share?
and when shall we get the money generally?:banghead:
 
Re: BMO - BMA Gold

Just heard this info.

Creditors meetings today - 25th May, hoping to remove Administrators and then requotation of its shares on the ASX.

They have raised $4.2 million from the sale of mining equipment and $3.5 million of the Rishton mill. This willl be used to fund a restructure and pay the outstanding monies to creditors.

A equity raising is planned to BMA shareholders to raise funds to complete payments to residual creditors and the rest to restart gold exploration at Rishton.

No time lines were advised.


TB
 
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