Share Name Share Symbol Market Type Share ISIN Share Description
Bdi Mining LSE:BMG London Ordinary Share VGG0905F1053 COM SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 36.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 39.25

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Date Time Title Posts
17/4/200706:49BDI Mining - for DIAMONDS and GOLD539.00
02/3/200601:48BDI Mining - Gold and Diamonds in SE Asia444.00
30/3/200512:38BDI Mining: The Move to London2.00

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Bdi Mining (BMG) Top Chat Posts

DateSubject
11/4/2007
20:44
doobydave: I thought that the recent Middle Eastern funds were a stalking horse for somebody, and so it turns out. Word on the street was that the offer for the whole company was intially considered a cheek, but behold, we now find it recommended by the board with 60% irrevocable undertakings already in the bag, all within three weeks. I really can't see this as fair value for both assets and am very disappointed. Actually 'annoyed' comes closer. What puzzles me is why the board couldn't have flogged off Woodlark to the recently announced interested party 'A' and Cempaka to interested party 'B' whom we now know to be Gem Diamonds, unless I suppose the offer for Woodlark was derisory. Gem Diamonds clearly don't want Woodlark; they confirmed that much in this morning's conference call. Directors' remuneration packages seem the most likely explanation for the recommended acceptance although I note Martin Horgan is only on a short-term contract to supervise the AIM burocracy stuff upon completion. The Gem Diamonds CEO dodged the question on the value placed on Woodlark this morning, save to say it was a lot less than 50% of the offer value. That values the Woodlark JORC M&I&I resource downstream of $38/oz or 6% of gold price - very possibly a long way downstream. In theory we could get a new bidder - Gem Diamonds want 90% acceptances and if they don't get them the deal could be pulled, but if so the share price would probably collapse again. I sold this morning into willing hands at 36p. DD
11/4/2007
11:10
kombimatec: Good news for holders of Gledhow. BDI share price has doubled since GDH last reported.
21/3/2007
11:16
sitiain: just to copy my message here from 29th december. when ever you find out there is a possible bid i always look closely at what i think the company is worth, to see weather i think there is value or not. here is what i posted in december. i would be interested in your thoughts especially Doobydave as you seem pretty good at this resource lark. well they have named it the chelsea blue.. i know a rather wealthy russian who might want to pick that up to put in a show case at a certain football ground. but....... what could be around the corner.? i think we will see the bigger producers buying up reserves next year.the diamond market looks very under supplied. they are not cheap to get out of the ground in south africa, plus the large tax there, which might make this stocks valuation very cheap to a larger producer. also there are companies around globally whose gold in the ground is valued at 30 dollars per ounce. that would put the gold assett here worth 30,000,000 dollars alone. if they produce 100,000 carats next year , as planned and keep about 100 dollars per carat profit that could put the valuation through the roof. i think there are diamond producers around who trade at 10/15 times profit. just imagine if it all works out.......... 30 mio for the gold 10,000,000 times p/e of 10 gives us 110,000,000 dollar market cap.(110,000,000 for us as indonesian govt owns 20 percent of the diamonds, so 30 for gold, 80 for diamonds) aprox 86 million shares. that is a sterling share price of 65 pence. so you can see why people are taking a punt. all speculation of course but the numbers are all there. happy new year to all.
05/1/2007
18:57
mattybuoy: There are special circumstances surrounding the AGLD share price. Have a look at the thread here if you want to see what. I would not take it as indicative of anything to do with the Simberi project itself. As for Woodlark, BDI have said that they may JV the project. Which would cut the funding risk drastically. Or even remove it entirely if it was a major involved.
29/12/2006
09:53
sitiain: well they have named it the chelsea blue.. i know a rather wealthy russian who might want to pick that up to put in a show case at a certain football ground. but....... what could be around the corner.? i think we will see the bigger producers buying up reserves next year.the diamond market looks very under supplied. they are not cheap to get out of the ground in south africa, plus the large tax there, which might make this stocks valuation very cheap to a larger producer. also there are companies around globally whose gold in the ground is valued at 30 dollars per ounce. that would put the gold assett here worth 30,000,000 dollars alone. if they produce 100,000 carats next year , as planned and keep about 100 dollars per carat profit that could put the valuation through the roof. i think there are diamond producers around who trade at 10/15 times profit. just imagine if it all works out.......... 30 mio for the gold 10,000,000 times p/e of 10 gives us 110,000,000 dollar market cap.(110,000,000 for us as indonesian govt owns 20 percent of the diamonds, so 30 for gold, 80 for diamonds) aprox 86 million shares. that is a sterling share price of 65 pence. so you can see why people are taking a punt. all speculation of course but the numbers are all there. happy new year to all.
22/12/2006
11:40
arf dysg: I take that to mean Happy Christmas and stuff. Croeso. This share price behaviour has the makings of a trend.
18/12/2006
17:01
arf dysg: Excellent... shares instead of debt at a 35% discount. The person who held the loan must believe that they're getting a good deal, hence we can expect a share price rise. Ergo, good news is on the way eventually.
25/11/2006
11:48
gisjob2: I don't see whats's dubious about the share price action. This stock has been drifting on lack of news and possibly lack of serious funds for the last year. It had got to the point of being very undervalued in comparison to its assets. Now phase 2 of the mining is starting meaning a large increase in recovered diamonds with more positive news flow about quality of the stones, further resource target areas etc. Couple with blue diamond find and 1 mill oz of gold at woodlark with more potential to come. I think it was only a matter of time for the price to catch up a bit.
25/11/2006
11:16
davidblack: I would not be surprised if there is not a bid for this stock. Very dubious price action of late, with a strong share price against a sluggishly performing peer sector. Makes you think!
28/3/2006
06:44
bitterlemontart: Feature Story Date: March 28, 2006 BDI Mining Runs Into Problems As A Result Of Selling By Hedge Funds Certain events get the nose of a journalist twitching in all directions. It happens at the most unexpected times, but it would be hard to ignore the fact that AIM listed BDI Mining, which switched its advisers from brokers Hichens Harrison and nomad Ruegg on January 19th to the rather larger firm of Williams de Broe, changed back again almost exactly two months later. No reason was given for the original change of advisers, but chairman Paul Loudon was quite wordy about the progress his company had made since listing on AIM in September 2004. "BDI Mining has successfully made the transition from explorer to producer with the commissioning of the Cempaka alluvial diamond mine in Indonesia. We have also increased gold resources on the wholly-owned Woodlark Island gold project in Papua New Guinea by 75 per cent with additional gold resources to be included in the next resource statement before the end of March, and further step-out and exploration drilling planned for 2006 as the company moves towards its stated target of more than one million ounces mineable. These two projects provide BDI Mining with a significant resource base from which to achieve management's growth ambitions for the company." Paul Loudon was clearly delighted to have got Williams de Broe on board and the expectation was that the company would raise some money for BDI Mining from new investors to accelerate its progress. It is at this stage that things get a bit fuzzy as no one seemed to want to say much about events after that. A look at the share price chart , however, gives a clue. The price was coasting along at around 35p when W de B took over, but soon after that it drifted steadily downwards to the current price of 27.5 p. Some might say that a fall of 21.4 per cent is not a lot, but it can cause a fair amount of chaos if broker and client company are trying to agree a price for a placing at the time. The first question that has to be asked is why the share price fell so consistently as the company itself appears to be doing well. Inevitably the name of RAB Capital comes up as one of several hedge funds which had built up a 25 per cent stake in BDI Mining acquired at the very low price of 8p. The sole object of a hedge fund is to make money so it buys shares as cheaply as possible, preferably when management is a bit desperate at the pre-IPO stage. Nothing wrong with that. The problem is that their time frame is skewed against that of investors who became involved with the company through a placement at 30 p per share in April 2005. This is a good price for anyone in at 8p, so there is the constant problem of an overhang. Another example was Stratex International which listed on AIM at the end of 2005 with a placement at 5p per share. RAB Capital was said to have a holding amounting to 44 per cent of the equity which had been acquired through a pre- IPO at 1.8 p per share. The hedge fund manager could take a nice profit in the 5p to 6p range and that is where the shares sat for the next three months. Bad luck on IPO investors as it is an interesting company with a strategic alliance in Turkey with Teck Cominco, but at least brokers were alerted to the problem and now scan lists of juniors very carefully for hedge fund shareholdings before committing to a funding. Back to BDI Mining which has clearly been bruised by the experience of changing advisers. Agreement could not be reached with Williams de Broe on a price at which a placement could be made as selling meant that it slipped a fraction on an almost daily basis. The company therefore returned to the old team of Hichens and Ruegg and raised a fraction under £5 million virtually straightaway from supportive shareholders through shares at 28p plus some convertible loan notes. Four drills can now be kept moving on Woodlark Island where the company hopes for a resource of 1 million ozs by the end of the year. It was a salutary lesson for all concerned and Paul Loudon resigned as chairman, after ensuring that he left the company in good financial order. The reason given is that he might have a conflict of interest between BDI's diamond interests and a diamond company called Diamondcorp with which he is involved in South Africa, and which will list on AIM later this year. The possibility remains, however, that he shouldered responsibility for the decision to change brokers which must have wasted time and money. At this stage it is as well to reflect on the power of these hedge funds which is growing all the time. RAB Capital is an appropriate example due to its activity in London's junior mining sector. At the end of 2005 it had £1.5 billion under management and that has grown since December to £1.8 billion which compares with the total market capitalisation for the sector of £12.6 billion. This last figure reduces sharply to £8.5 million if just four companies, Bema Gold, First Quantum, Peter Hambro Mining and Yamana Gold are taken out. In 2005 RAB made a pre tax profit of £25.56 million after paying employee bonuses of £28 million. These figures give an idea of the rapidity with which investments are turned over and, of course, it is in the better companies with more liquidity that trading tends to be concentrated. RAB does not confine itself to mining stocks, but it has certainly played a vital role in the growth of AIM's mining sector. Life is all about balance, however – for every good there is a bad - and BDI Mining certainly seems to have got the dirty end of this particular stick.
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