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| 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 | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 36.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 36.50 | GBX |
Bdi Mining (BMG) Share Charts1 Year Bdi Mining Chart |
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1 Month Bdi Mining Chart |
Intraday Bdi Mining Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 17/4/2007 | 07:49 | BDI Mining - for DIAMONDS and GOLD | 539 |
| 02/3/2006 | 01:48 | BDI Mining - Gold and Diamonds in SE Asia | 444 |
| 30/3/2005 | 13:38 | BDI Mining: The Move to London | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 11/4/2007 22:05 by spacecowboy3 Sorry to be pedantic but as I read the offer announcement, I don't think it's quite correct to say that they have 60% irrecoverable undertakings. The relevant details are in section 4 of the fine print -In connection with the Offer, certain BDI Mining Shareholders have entered into irrevocable undertakings with Gem Diamonds ........ representing approximately 42.5 per cent in aggregate of the issued BDI Mining Shares. These irrevocable undertakings will cease to be binding ..... or (iii) an offer is announced by a third party before the Offer becomes unconditional as to acceptances, provided that such third party's offer price is at least 10 per cent. greater than the offer price under the Offer. In addition, William Aldwin Soames, Saad Investments Company Limited, RCM (a company of Allianz Global Investors) and Draganfly Investments Limited have provided letters of intent to Gem Diamonds stating that their current intention is to accept the Offer in respect of their shareholdings of 2,412,000, 3,111,500, 5,756,585 and 2,650,000 BDI Mining Shares, respectively, representing approximately 13.4 per cent. of the issued BDI Mining Shares. In summary, therefore, Gem Diamonds has received irrevocable undertakings and letters of intent to accept the Offer in respect of 61,842,657 BDI Mining Shares in aggregate representing approximately 59.6 per cent. of the issued BDI Mining Shares. So - only 42.5% (plus the Directors 3.7%) actually irrevocable (and even these are not binding if there's another bid that's 10% better) and the rest just letters of intent. Nevertheless, given that the Board have thrown their weight behind Gem it seems unlikely to me that there will be another bid, particularly with BDI's slightly odd mix of assets. Consequently I also sold my holding into the market today. Very disappointing but best to move on and use the money elsewhere IMO. |
Posted at 11/4/2007 21:44 by 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 |
Posted at 11/4/2007 12:10 by kombimatec Good news for holders of Gledhow. BDI share price has doubled since GDH last reported. |
Posted at 29/3/2007 07:41 by sitiain could be these guys? bit too far from home i would think however?Petra Diamonds Ld 27 March 2007 For release 27 March 2007 Petra Diamonds Limited Notice of EGM Petra Diamonds Limited ("Petra" or "the Company"), the AIM-quoted diamond group, announces that on 26 March 2007 it posted to holders of Petra ordinary shares ("Shareholders") a notice of an Extraordinary General Meeting ("EGM") to be held to consider and vote upon a proposed increase of the Company's authorised share capital. Introduction It is Petra's publicly stated strategy to build a portfolio of producing mines with beneficiation capability, combined with a world class exploration base, achieving the objective of becoming a successful mid-tier diamond group. Petra is well on the way to achieving this strategy, as supported by the key acquisitions and financing transactions concluded over recent months. In line with the strategy above, the Company will continue to scrutinise acquisitions and business opportunities in the diamond sector that, subject to the Company's demanding review criteria, Petra believes have the potential to grow the Company's production and/or quality exploration asset base. Taking into account the recent placing of 10 million Petra ordinary shares ("Shares") with Saad Investments Company Limited at a price of 175 pence per Share (as announced on 6 March 2007) and the acquisition of Frannor Investments and Finance Limited ("Frannor") from Xceldiam Limited, ("Xceldiam") for a consideration of 19,674,584 Shares (as announced on 1 March 2007 and subsequently approved by the shareholders of Xceldiam on 19 March 2007), the Company will have an issued share capital of 181,173,191 Shares. An application for admission to trading on AIM will be made today in respect of the 19,674,584 Frannor consideration Shares which are expected to be admitted to trading on AIM on or around 30 March 2007. The Company currently has an authorised share capital of #20,000,000 comprising 200,000,000 Shares of #0.10 par value each. In light of Petra's stated strategy above, Shareholders' approval is being sought at the EGM to increase the Company's authorised share capital from #20,000,000 to #30,000,000 by the creation of an additional 100,000,000 Shares ("the Resolution"), ranking pari passu in all respects with the existing Shares of the Company. The Company will require the approval of 50.1% of its Shareholders in order to pass the Resolution. Pursuant to the bye-laws of the Company and any resolution of the Shareholders to the contrary, the Board has the power to issue and allot any unissued Shares of the Company on such terms and conditions as it may determine. EGM A notice was sent to Shareholders on 26 March 2007 convening the EGM to be held at 9:00am (Bermuda time) on 23 April 2007, at which time the Resolution will be proposed to increase the authorised share capital of the Company from #20,000,000 to #30,000,000. Recommendation The Directors believe that the Resolution is in the best interests of the Company and its Shareholders. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the Resolution to be proposed at the EGM, as they have irrevocably undertaken to do in respect of their own beneficial holdings, which in aggregate amount to 11,924,122 Shares, representing approximately 6.59 per cent of the issued ordinary share capital of the Company of 181,173,191 Shares, which includes the 19,674,584 Frannor consideration Shares noted above. Expected Timetable of Principal Events Set out below is the expected timetable of principal events in relation to the EGM: Latest time and date for receipt of Forms of Direction 9:00am on 20 April 2007 Latest time and date for receipt of Forms of Proxy 9:00am on 21 April 2007 Extraordinary General Meeting to consider the Resolution 9:00am on 23 April 2007 (All times are Bermudan time) Ends Post an article on this thread: Your nickname: SITIAIN Click here to add an e-mail alert for this thread |
Posted at 21/3/2007 11:45 by barnsey Worth more tha 40p imo.Article below out of date but values still apply. Smaller companies spotlight 12 May 2005 EACH week, former Fleet Street City Editor Patrick Lay keeps This is Money readers up-to-date with a neglected, but exciting sector of the stock market - smaller companies. I FELT some of the excitement a twitcher might feel when spotting a rare species of bird in his own back garden this week when I met Paul Loudon and John Forrest, chairman and finance director of BDI Mining Corp. BDI is a very rare species indeed, a junior mining company that is actually producing and has a positive cash flow. Next month, its first parcel of gem quality stones from its diamond operations in Indonesia goes up for auction in Antwerp. The parcel of 2,504 carats has been independently valued by WWW International of Antwerp and London as being worth around $275 (£150) a carat, and plans are well advanced to achieve a 2005 average rate of more than 4,000 carats a month from existing property. The company is also looking to extend its acreage. While such success might be sufficient for some operators, Mr Loudon sees this as only the beginning. BDI is hunting for gold on Woodlark Island, Papua New Guinea, where a previous owner identified 374,916 ounces of gold. Subsequent drilling suggests there is a potential to contain more than a million ounces of gold. The story is sufficiently credible to have attracted Barclays Capital to come on board and assist with the funding of the project through to a bankable feasibility study, and to continue with the finalised mine construction and production financing. The company came to Aim in September 2004 with a placing of shares at 14p a share, since when it has raised a further £5.4m at 19p a share and at 30p a share through private and institutional placings, getting on board such big hitters as RAB Capital, Tectonic Fund, Ocean Resources Capital, and Fidelity. Analyst Robert Wallace at SQC Research estimates turnover this year will be £3.9m with pre-tax losses of £112,000, but he predicts turnover soaring to £10.7m next year with pre-tax profits of £5,470,000 and climbing to £17.2m and £11.2m pre-tax respectively in 2007. He sets an end 2005 target price of 70p on the shares, and there some who feel £1 a share is possible within 12 months |
Posted at 21/3/2007 11:16 by 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. |
Posted at 08/1/2007 21:04 by ged5 Not sure how reliable this is since they've got the share price wrong but it could be the explaination for the fall."Papua New Guinea-listed stocks on the London, Toronto and Australian stock exchanges generally took a battering last week following a big drop in copper prices and weaker gold and oil prices. The Perth-based PNG IndustryNews.net website, which closely follows the country's resources sector, headlined its weekly market watch report: "PNG Resource stocks in the red." It said: "One of the saddest weeks of trading for PNG-focused companies, in line with the fortunes of resources stocks globally, was prompted by the lowest copper price in 10 months. "Positive announcements were conspicuous by their absence as mining stocks were helpless to arrest what they would be hoping is only a brief demise." A related MiningNews.Net website, also run by Perth's Aspermont Group, in an item titled "A day of carnage" suggested resources stocks had been "well and truly smashed as investors freaked out at copper's fall below US$6,000 (K14,781.97) a tonne". Listings of the performances of PNG-related mining and oil companies showed they came off comparatively well on the Australian Stock Exchange were nine out of 13 companies experienced falls. By contrast all three PNG-related stocks on London's Alternate Investment Market (AIM) recorded losses during the week with Rift Oil down 24% to 4.66 pence; BDI Mining down 12.3% to 30.2 pence and Triple Plate Junction down 4% to 25 pence." |
Posted at 08/1/2007 14:36 by unionhall They have bought 2.7m since the last announcement in March 2006....(Presumably recently or they would have had to announce earlier) By finishing their buying may have led to the current share price weakness. Bdi Mining Holding(s) in Company RNS Number:1125P BDI Mining Corp 08 January 2007 London office: Level 5 22 Arlington Street London SW1A 1RD England T: +44 (0) 207 016 5106 F: +44 (0) 207 016 5101 NEWS RELEASE SIGNIFICANT SHAREHOLDING LONDON - 8th January 2007 - BDI Mining Corp. ("the Company") reports that it was notified on the 5 January 2007 that following recent transactions, Al Salam Opportunities Limited have an interest in 8,150,000 common shares in the Company, representing 8.1% of the issued share capital of the Company. |
Posted at 05/1/2007 18:06 by spacecowboy3 MattybuoyMany thanks for that suggestion - i've just spent a very informative couple of hours looking at the presentation and AGLD's website. The latter has some videos of the Simberi project which, although out of date, gave me much better feel for what would be involved in a project such as Woodlark Island. Bottom line seems to be that AGLD have been able to raise the equity and debt required to finance a $60m development on a PNG island that doesn't look any more developed than Woodlark. They're initially shooting at about 1m oz in oxide deposits (i.e. about the same as current BMG estimates) although they seem very keen on the potential of the underlying sulphide desposits (currently about another 2m oz inferred) - I suppose that might a point in their favour although BMG have talked a good deal about the WI 1m oz being increased. Anyway, I feel a good deal more comfortable now about the value of WI. As to whether that will encourage me to buy more BMG.... - well a look at the AGLD share price chart doesn't fill me with enthusiasm and the market for resource stocks seems to be pretty negative again at the moment so maybe I'll wait for a bit. Thanks for the help everyone. sp |
Posted at 28/3/2006 07:44 by 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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