Bullabulling Investors - BGL

Bullabulling Investors - BGL

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Stock Name Stock Symbol Market Stock Type
Bullabulling BGL London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 4.25 00:00:00
Open Price Low Price High Price Close Price Previous Close
4.25 4.25
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the count of monte_cristo: Rosco - before you turn your back on the AIM miners consider deeply the following; - The small cap resource sector situation back in 2008, and what investors were saying then and that they were turning their backs on the sector and what happened to those same stocks over the next few years. - The fact that we are living in unusual times, THE largest migration of rural to Urban human movements, ever in the history of the world. Where will all the resources come from to feed and house these people? - The fact that the global population is growing. - Africa is on the rise, India is decades behind Chinas development and growth and now have a new leader. - That arguably the resource stocks have bottomed, they have been dripping down for years, investors have suffered death by a 1000 cuts over this period. - That the time to invest in a sector is when it is unloved, when people indicate emotionally that 'they have had enough' 'will never invest in AIM resource stocks again' etc indicates a near bottom. - That if you choose the right stocks with cash, good management and good projects and have a few years time horizon you may well beat any investment in large cap stocks. - The question of, what happens when the world really starts to grow again, whether that's in 2015 or 2017, what will happen then to the prices of things like copper or cocoa, for example? The markets are short term thinking, they do not see long term, and embitter investors to have this same view. The world is going to have MAJOR resource issues over the coming decade, wars over water, oil and food will be more likely. Look at India banning the export of onions, last year people were robbing trucks loaded with onions at gun point in India. Now may actually be THE time to focus on investing in some of the AIM resource stocks, IMHO.
richie32: Some large investors must have taken a big hit. Strange when gold is on the turn. Ah well. Onwards and upwards...
carl79: Too much faith in our fellow investors and too much faith in the management team? Brett's job, imo was to make sure investors were familiar with the alternative to Norton not taking over and their view of the world not coming to pass...Clearly did not do a good enough job...
leedskier: VGM delisted today after the Chinese shafted investors.
carl79: Of course they will not acquire shares in that fashion - it will be a large block/s from a few large investors as opposed to a large collective from many numbers of investors...or not at all...the not at all looks likely but I am just confused as to why Norton would bother. If they are relying on momentum to get them over the line, they must know that their offer is way too light. The only way I can see their board continuing to press on is if they actually see success at the end of the tunnel (easier to save face by saying "crazy shareholders overvalue their company, so we walked away). At this stage, success would seem to only come about if one or two large instos delivered their stock on a platter...The hows and whys of that are where I expect the real game is being played. Will Norton have some follow up deal for any insto giving up their BGL shares - attractive placing later down the line or something of that ilk...??? This is why I feel / felt that Brett needed to set his stall out hard and fast detailing how he can progress the project over the next 6 months (ie short term)...plans for financing etc etc. The only way to stop people being tempted by ANY Norton offer is to make them understand the tangible value of what they have today. As it stands, drilling data, safe country, gold in the ground aside, I feel that there is a lot of doubt knocking around and it is actually the BOD's failing that ANY shareholder sees 4 - 4.5p as a viable exit point. Even those sitting on profit should feel that holding over the short term will deliver a better return. Just my opinion...I would like to think Brett knows exactly what he is doing and is doing that well...in the background...not the foreground as I'd prefer...but doing it non-the-less
boros10: I went to last evenings presentation at Pro-Active. I previously saw management speak at the same venue some two or three years ago. Many of those who I spoke to last night were hostile to Norton's bid, believing Bullabulling has huge potential which is not reflected in the offer price. The offer may be on the low side and is certainly opportunistic but shareholders must consider the alternatives and whether they are realistic. The Company needs cash to fund its DFS. In the absence of a partnership or a "farm in", the cash may have to come from existing shareholders meaning more money at risk and further dilution. In the meantime, the Company is having to issue free shares to service providers to preserve what cash it has left.Once they have completed the DFS the Company then faces the prospect of raising a huge sum of money relative to its market capitalisation. Over $430m Australian Dollars. Or 30x the current market capitalisation. The current funding environment for commodity projects is dire and even if things were to improve, there are loads of other projects around the world chasing the same cash, many of which offer lower cash operating costs and less Capex. If Norton ends up failing to secure control of Bullabulling but instead secures a meaningful and influential shareholding this could play out very badly for investors as the Company will have a gun to its head each time it needs to raise more money. There have been plenty of other examples in this sector where a struggling business has been secured by stealth by a powerful shareholder. One problem I suspect some investors have in assessing the Norton bid is coming to terms with the money they have lost on this investment. Rather than taking the bird in the hand they prefer the birds in the "Australian" bush. In fact, they are even willing to throw more money at the Company in search of those illusive birds, throwing good money after bad.The Board has a difficult hand to play here. I think the Board has little choice but to play hardball to try and extract an improved all cash offer. Alternatively, a partial cash and shares offer might appeal to those who want to continue enjoying the Bullabulling ride. The Board must, however, be realistic about the alternatives and not leave the shareholders exposed to further losses. A deal with Norton on the right terms has to be in everyone's best interest, especially Bullabulling's long suffering shareholders.
totally banjo: A reminder: Proactive presents an "Evening with Bullabulling Gold" By Proactive Investors May 02 2014, 5:00pm Next week, Proactive is showcasing junior mining firm Bullabulling Gold (LON:BGL, ASX:BAB), in an event, which promises to be as informative as it is exciting. "An Evening with Bullabulling Gold" kicks off at The Chesterfield Mayfair Hotel in London on May 7. Make sure you don't miss out by securing your place HERE... The directors will give a first-hand insight into recent developments at the company and managing director Brett Lambert will give a 40-minute presentation, followed by 20 minutes for Q&A. Just last month Bullabulling received an unsolicited takeover offer from Norton Gold Field. London and Sydney-listed Bullabulling Gold has made huge strides in the development of its flagship project in Western Australia over the past 12 months. In a tough market for all types of junior miners, Bullabulling has boosted the resource, reduced the upfront expense and cut the estimated production costs at the 3.76mln ounce gold deposit to a very competitive US$930 per ounce all-in. Recent test work has also indicated costs could be cut further as the Bullabulling ore may be amenable to the flotation method of processing. Work on this has pushed the timetable for a definitive feasibility study on the project into the first quarter of next year, but as it may slash the cost of lime and cyanide, estimated at US$170 per ounce in the original mine costing, the wait may be worth it. At a time when very strong headwinds have battered even the giants in the gold sector, it is potentially another big tick in the box as the company seeks the finance required to build the mine. In short, Bullabulling's progress has been impressive and has not gone unnoticed. Rival Aussie miner Norton Gold Fields recently launched a 7c (3.9p) cash bid for the company, but this was quickly rebuffed by Bullabulling's board as both inadequate and not justifying a change in control. Meanwhile, broker Westhouse's price target of 17p for the shares, meanwhile, suggests it also see the potential of the firm to be worth a lot more. Please join us at 5:40pm to allow for a prompt 6pm start. Following the presentation, there will be a complimentary bar and an assortment of hot & cold canapes, giving you the opportunity to speak with the directors of BGL and other investors.
temujiin: Company Q&A: Bullabulling Gold "very pleased" with test results By Charlotte Kan March 26 2014 http://www.proactiveinvestors.co.uk/companies/news/67048/company-qa-bullabulling-gold-very-pleased-with-test-results-67048.html Bullabulling Gold (LON:BGL, ASX:BAB) recently posted results from preliminary metallurgical test-work that could reduce costs and enhance recoveries at its flagship project in Australia. Proactive Investors (PI) caught up with managing director Brett Lambert (BL) to discuss the details and to find out where the firm goes from here. PI: This report is part of the definitive feasibility study - the DFS. What are the details that investors need to know? BL: Yes, it's part of the DFS that's underway on the project. The first elements of that have involved us going through the prefeasibility study (PFS) and looking at areas where we can optimise performance. We began that process last year, looking at the mining side of the operation and we've more recently switched across to look at processing. In the first instance, we've looked at the big ticket items and a major component of our processing costs is the cyanide and lime consumed in the gold processing. This release details some of the preliminary work we've done to see if we can reduce the consumption levels, and we're certainly very pleased with the outcome of the preliminary results that suggest a significant reduction in the usage of those two. PI: The water treatment process is a little unusual, isn't it? BL: Yes, that's right. Our basic treatment process for recovering the gold is with carbon leach, which is very standard and used in nearly all gold mines globally these days. What we're looking at is seeing if we can improve the leach conditions within the circuit by improving the water quality. The technology we've been focusing on there is nanofiltration, which in itself isn't a new technology, it's been around since the 1980s, but it's not commonly used, certainly within the Western Australian minerals industry. That is to a large part due to the fact that many operations have very hypersaline water and it's unsuitable. One of the advantages Bullabulling have is that its water quality is naturally better than the average in the goldfields of Western Australia. PI: Where do you now go from this point? What do investors need to know about some of the milestones you're looking at achieving? BL: The next stage for us is to do the more detailed metallurgical test work that will hopefully validate the previous results and better quantify the benefits for us. Then we'll continue on with the rest of the DFS, which will involve some infill drilling of the resource to get it all to reserve status, which we hope to release by third quarter, and then go on to the detailed engineering and re-costing of the capital and have the definitive feasibility wrapped up by the end of this year, all going well. PS, I bet DFS is delayed until Q1 2015
temujiin: Sorry, don't know how to copy photos 05 March, 2014 Dear Subscriber, Bengt is away today, so as a follow-up to Monday's article – "Gold has turned a corner" – he thought you should take a look at this piece from Simon Popple. If this is the bottom of the gold market, as Bengt says, Simon's gold miner portfolio should do very well indeed. Click here to see Simon's plan. Toby Bray, Publisher The next gold boom A guest comment from Simon Popple I first invested in gold miners eight years ago, and in that time I've been through a few big swings in the market. Booms and bear markets are just a fact of life in precious metals investing. Knowing your history helps to deal with them. It teaches you not to be too elated in the good times or depressed in the bad. Now, last year was terrible for gold by any standards. It was its first annual loss in 12 years, and it fell by 27.3%. But this is not the first time that the gold price has experienced a sizeable drop. And while past performance does not guarantee future results, there are parallels that can be inferred from studying gold price falls in the past. According to the World Gold Council, the gold price has had 12 periods with pullbacks of 20% or more since 1971. You can see these in the chart below: Click on the image for an enlarged version Source: Bloomberg During each of the pullbacks, the gold price fell on average by 36% over 18 months. There were even a few occasions where the correction period lasted more than 30 months. Now, if you look at the second column from the right labelled "Retracement", you'll see some big numbers - there's always been a nice bounce, and sometimes even an explosion, after the fall. Remember, this is the retracement of the gold price. So basically, the gold price has typically more than recovered its losses before the next significant pullback occurs. Getting back to the chart, you'll note that we're now more than 30 months into one of the largest pullbacks in history (this data is up to the end of 2013). And this is where history can serve as a guide. If this is to equal the second longest pullback in history, then we can expect the price to start moving in July. Should it equal the existing record of 43 months that takes us to January 2015. It could obviously be longer, but that would be breaking all records! How long does a gold boom last? The following chart shows how long a gold bull market could be expected to sustain itself, assuming a price "take off" on 1 March 2014: There are several things to consider. First, although investors have been through a lot of pain, there could still be several more months before the gold price rises. We're still some way off a "healthy" price for the industry which is probably in the range of $1,550-1,650. To give you some perspective on this, the average prices in 2011, 2012 and 2013 were $1,572, $1,669 and $1,411 respectively. Second, when the gold "take off" does happen, gold stocks could see explosive gains. At a gold price of $1,800 the wheels could still be on the runway and investors could be in for a nice ride. Third, and perhaps, most important, should gold investors get that kind of uplift, they need to be very careful. Selling too early could leave them on the sidelines watching the bull market roar away. Similarly, going too late could wipe out all our profits. The only way to make that decision properly is to know your history. When the time comes, we'll be ready! Good investing, Simon Popple Editor Metals and Miners This article first appeared in Metals and Miners 17th February 2014.
topinfo: Bullabulling Gold determined to stand out from the crowd By Jamie Ashcroft December 29 2013, 12:01pm In declaring a 2.5mln ounce mining reserve by mid-2014, Bullabulling Gold (LON:BGL) believes it will to set itself apart from the swathe of junior gold stocks on both the AIM and ASX markets. It will be a significant milestone on the way to a final investment decision in the fourth quarter, which could see the substantial Bullabulling Gold project move into the development phase by this time next year. Initially, in the first half of the year, a short drill programme will aim to infill a small part of the resource, which is still classed as inferred, and the reserve will come after those results. "We expect to be able to declare a reserve in the order of 2.5 to 2.6mln ounces," chief executive Brett Lambert told Proactive. "There is no other junior or mid-tier company in Australia that has a project with a reserve that size. It really stands us apart from the crowd. And it is the size of that reserve that delivers the economies of scale, which make this project very competitive." It would be reasonable to expect a re-rating of the group's shares to follow this important milestone as well, he says. "I think that will be an opportunity for a significant re-rating of the project. Having a resource is one thing, but, to actually declare it a mining reserve means we've taken the project a lot further, and we've done most of the work that's needed to advance to mining." For Bullabulling, 2013 has been a challenging and important year, as it has on paper made several improvements to the eponymous gold project. Lambert had previously outlined a plan to enhance the economics set out in the project's pre-feasibility study (PFS). He says this initiative was a success despite tight capital markets for junior companies and stock price volatility across the sector, as the previously inexorable gold price rise stalled. "It has obviously been a very challenging equity market for us, but we're pleased that we've been able to continue advancing the project. "We've had three separate drilling programmes, each one targeting specific facets of the ore body, and that has resulted in a lift to the overall ounces in the resource and also the resource grades, as well as adding ounces in places that will now be accessible to mining." At risk of labouring the point, the firm's prospects have improved further thanks largely to the misfortune of others in the sector, as several projects have stalled. The boom times are over in Western Australia, and as a result the availability and cost of equipment and services has improved significantly. Importantly, there is also the opportunity to hire a higher calibre workforce for much less than before while a portion of the highly skilled jobs market currently survive on a four day week. "We've gone from a situation where construction and engineering costs were spiralling out of control, to a situation where costs are declining. So, we expect capital costs to have come down from where they were twelve months ago [in the PFS], though it will be something that we'll re-estimate later next year. "Obviously that will have a positive implication on the amount we have to fund as well as the rate of return on the capital invested into the project." It has, to some extent, done this optimisation work on a shoestring budget. Thanks to a A$4.5mln tax rebate and £1.3mln (A$2mln) raised through a rights issue in April, and a decision to slow work on the definitive feasibility study, the company has been able to end 2013 with slightly more cash in the bank than it began the year with. "We've achieved a lot and maintained a strong cash position, relative to many of our peers. "Having said that, we're not as well funded as we would like to be, to really accelerate the project. "So, we're currently balancing that desire to really push the project forward with a very careful approach to cost and cash management." Looking ahead, Lambert says investor sentiment for gold stocks generally will be the driving factor in the pace at which the company can proceed. "We are going to keep progressing the project, whilst being cautious, until we really start to see that sentiment turning around as we don't want to put ourselves in a position where we have to raise funds in a manner that may be detrimental to existing shareholders. "No matter what form of funding we may look at, we first want to achieve better market recognition of the value of the company, and that is likely to only really happen when the sentiment towards the sector in general is more favourable. "Investors are very cautious right now. We've had a lot of interest in what we're doing, but many investors still remain on the sidelines. Of course, that can turn around pretty quickly. "Our intention is to keep things fairly simple when it comes to development finance, and we're most likely to look for a conventional mix of debt and equity. Our intention is to maximise the exposure our existing shareholders retain to the project, that's the key thing. "We have 3.8mln ounces of JORC compliant gold resources in the ground, providing our shareholders with fantastic leverage to the gold price." "Gold prices will recover at some point, and continue to grow. I think the fundamentals, the pure and simple supply and demand fundamentals, remain very good." "While the equity market has been tough, it is now starting to improve. We are starting to get good attention from investors and we believe the scale and quality of the Bullabulling Gold Project will see us stand out from the crowd." http://www.proactiveinvestors.co.uk/companies/news/64481/bullabulling-gold-determined-to-stand-out-from-the-crowd-64481.html
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