Bdi Mining Share Discussion Threads

[rambutan2] 06/1/2006 11:02

yes, mr spencer v keen to emphasise the free milling bit.

[davidblack] 06/1/2006 10:28

Just excessive discounting from a non mining house broker, also the price of gold has gone up $50 from the time of that note! The extraction costs here are supposed to be low as the rock is "Free milling"

[integer] 06/1/2006 08:17

David,

The Woodlark gold was valued by their broker at $25/ounce. Far less than the market price. Perhaps this takes into account the extraction cost I'm not sure. Any ideas?

[davidblack] 06/1/2006 08:12

I personally never get tired of $1m cheques each month from those diamonds but it is irritating given that the gold was and is the big exploration asset that is going to take this to £3 a share.

The problem is using discounted cash flow as a valuation model which sharply increases the value of the "Bird in the hand" against the "Flock of birds in the bush!"

Lee Spencer said they were looking to prove up 2m oz at Woodlark, at $100 per oz that is a lot of shareholder value. Thankfully the diamonds are keeping those drills turning.

Hey ho not a bad problem.

[rambutan2] 05/1/2006 23:57

speed camera - What's the problem? I say forget diamond sales. The market is bored with thousands of diamonds coming onto the market. !!!!!!!!!!!!

gold is for bugs and fingers, diamonds are forever. give me diamonds anytime.

and in any case, if gold continues to climb as some think it might, woodlark should be coming onstream at just the right time.

[unionhall] 05/1/2006 22:19

Speed camera - they just did.....

GOLD RESOURCES INCREASE TO 655,000 OUNCES

AT WOODLARK ISLAND GOLD PROJECT


LONDON - 5 December 2005 - BDI Mining Corp. ("the Company") reports that an
interim resource assessment of the Company's 100% owned Woodlark Island Gold
Project in Papua New Guinea, has resulted in an increase in measured, indicated
and inferred resources to 655,000 ounces of contained gold.

The new resource statement represents a 75% increase in gold resources reported
by previous operators at Woodlark Island and is based on extensional drilling
completed in late 2005 with additional in-fill holes completed as part of the
current year's drilling programme.

Drilling at Woodlark Island continues with the target of delineating a bulk
mineable gold resource of between 1-2 million ounces of gold by the end of 2006

[ged5] 05/1/2006 21:57

Think you could be right about the share price sc. It's certainly not responding to all these sales of diamonds. What we need is instant gold. Think I'll go and get a cup.

[speed camera] 05/1/2006 21:13

Spot on Davidblack.

(Apparently) there is continuous 'good news' on diamonds from this company, and yet the share price isn't reacting favourably. What's the problem? I say forget diamond sales. The market is bored with thousands of diamonds coming onto the market. Tell me a diamond share which is going through the roof.

Gold is what people are interested in.

When old world currencies go under and everybody wants to know how to get an exposure into gold, then this company ought to be promoting itself on this subject right now.

OWN UP BDI - WHAT ARE YOUR PROVEN GOLD ASSETS?

If you have indeed have tangible gold assets, then you're missing the boat by not emphasing them.


If you want to get a life, then management - sort yourselves out.

[ged5] 05/1/2006 20:26

Isn't it more likely to race ahead on the gold price when BMG bring Woodlark into full production?

Meanwhile the production of diamonds has exceeded initial expectations and Cempaka has been shown to have far higher potential than originally thought. I don't think any of us have forgotten the gold it's just that for the moment the diamonds are taking centre stage. And David I think I left you off my Christmas greeting so a very happy and prosperous New Year to you and everyone.

Also aren't we due another announcement soon re the next parcel of diamonds?

[davidblack] 04/1/2006 14:30

This one should be going up on the price of gold?

Most odd, 12 months ago it was a great gold play with some prospective cashflow from diamonds.

Now they are banking £05m a month from the diamonds the gold has been forgotten about.

The gold always was their big asset how perceptions change!

[chonk] 03/1/2006 15:46

Glad to see these tick up a little today - long may it continue.

[ged5] 23/12/2005 20:56

thanks unionhall, also been reading your TMC thread. Will be there if I can put some pennies together.

[unionhall] 23/12/2005 20:41

U 2 Ged5.

This will be fine - slow and sure.....

[ged5] 23/12/2005 20:22

Welcome badtime and a very merry Christmas.

rambutan2, unionhall, vassily, doobydave, davidblack, adam, Andy, ericsomething and all others, have a very Merry Christmas. I think we're all going to be winners next year. This is my biggest holding and above my usual stake so for once let's hope I'm right.

[badtime] 21/12/2005 18:14

Bought a few this morning....wondr if those 50k trades r rollovrs. 35/34.5

[badtime] 20/12/2005 18:45

These look tasty...wish i got in first thing today...but may try tomoz morning..better late than nvr i guess

[ged5] 20/12/2005 11:47

Nice. That's more than we've been getting in a day just lately.

Doobydave, last time you were here you were considering buying in. If you eventually got some, welcome aboard. Don't forget those past 4-5 months were on sales every second month. We're now about to go to phase 2 which is sales every month and hopefully +8000 carats at some point during the year.

[vassily] 20/12/2005 10:51

At least one person believes all the good news. 90K trade and up 1p.
V

[rambutan2] 19/12/2005 10:56

morning dooby, i'd jotted down a few very rough figs at the minesite presentation but can't find the notes at the mo - yes, one of my new year resolutions is to sort out my filing system! however, when speaking to mr spencer at minesite his enthusiasm for the gold was quite noticeable and the impression i came away with was that the gold was going to be the real moneyspinner. he was very confident that they wouldn't struggle to get resources over a 1m oz before long.

[unionhall] 19/12/2005 10:51

May have mentioned before - one reason I like Diamomd companies for investment is a simple graph I saw on a presentation (for Petra Diamonds ) which showed that Rough diamond prices have risen every year, bar four, in the last forty or so.

Looking forward to all those newly wealthy Chinese and Indian women sporting more and more diamonds over the next ten years or so.

[dean moriarty] 19/12/2005 10:39

by the time the results are anounced in March the turnover projection for 06 should be $20-30m based on the independent report.

[doobydave] 19/12/2005 10:35

Morning Rambutan,
I haven't even started to value gold in ground at Woodlark, etc. (bit short of time at present). Have you any figures you'd be willing to share? Otherwise I'll do a few sums after Christmas.
Regards,
DD

[rambutan2] 19/12/2005 10:31

and a v interesting gold interest as well.

yes, the price of this a bit of a mystery. wonder how many sales it will take for the mkt to start believing?

[doobydave] 19/12/2005 10:25

Very tasty. $5.6m in diamond sales in last four or five months depending on how you do your counting. At this rate, Cempaka will be throwing off $14-15m pa (call it £8-9m) in cash. I know not all of that will drop to the bottom line, but not altogether bad for a £26m market cap company - I agree, Ged, BDI has some catching up to do.

[ged5] 19/12/2005 08:17

Average selling price of $308 per carat slightly up from the last sale.
Over $5m sales since August. Still looks undervalued to me.