Bdi Mining Share Discussion Threads

[ged5] 27/3/2006 20:49

DD,

"It somewhat begs the question, why did BDI decide to dump HH in the first place?"

How could they assist with a fund raising 2 months after writing this:-

"BDI has been elevated from a mineral e ploration
company to a producer, now that cash-flow from the
diamond operation has been established. This gives
BDI the opportunity to advance its e ploration efforts.
The company is well funded and we do not e pect any
additional calls on shareholders in the foreseeable
future."

[wdurham] 27/3/2006 12:39

Adam - they didn't switch to WdB until 19 January.

[ged5] 27/3/2006 12:31

determined,

If you read the header you would see that the last research note was from Dave Paxton. Hopefully he will update his research note.

adam, I think you raise some valid points.

[adam] 26/3/2006 23:52

apparently they were informed by bdi that they wanted to do a raising by feb

In which case, the were either informed of this after 9th January (leving only 3 weeks) or the directors were insider dealing.

11 January 2006

BDI Mining Corp. (the "Company") was informed, on 9th January 2006, that parties related to Raymond Perkes, a non-executive director of the Company, have sold shares in the Company as follows:

Wisleigh Pty sold 25,000 shares on 6 December 2005 at 34p per share
Wisleigh Pty sold 25,000 shares on 22 Decemebr 2005 at 34p per share
Mary Scanlan sold 78,000 shares on 21 December 2005 at 34p per share
Mary Scanlan sold 77,000 shares on 5 January 2006 at 34p per share

cos the diamond mkt is soft. no one quite sure of reason, as all are still bullish longer term

Rather conveniently they change to quarterly reporting of diamond sales too. I think it is one thing to say that there are various reasons to explain the BMG low share price, but it is another to makes excuses and meanwhile selling your own stock like billyo. It is pretty cynical.

a certain well known hedge fund has been a seller, which fair enough as they pocketing a multiple

Ah, yes, of course, hedge funds are well known for not wanting to be too greedy. They just didn't want to be seen to be making too much profit.

[determined] 26/3/2006 22:57

wdurham,

I thought WDB loss was bad, but if Paxton is as good as you say, maybe something positive will come out of all this?

I have heard of him by name only.

[wdurham] 26/3/2006 22:53

For what it's worth, I too have heard that there is nothing regarding the resignation of WdB which reflects badly upon the company.

Can't say I am bothered - Dave Paxton of HH is an excellent mining analyst, and I would rather read his opinions, warts and all, than the perennially hyper-optimistic opinions of WdB's diamond analyst...

[mikkydhu] 26/3/2006 22:47

Great post, rambutan2, many thanks for shedding light on a bewildering situation.

[determined] 26/3/2006 22:33

Rmbutan2,

First class post!!!

Gives one reason for the low SP, I can't fathom this low price, now I can see they were pushed on the placing.

Mr Lenigas will no doubt help turn this around in due course!!!

[ged5] 26/3/2006 21:49

rambutan2,

Thanks for sharing that. Sounds like you had an interesting game of golf!!

The first bit is news to me but some of the other info is confirmation of what I've heard. Interesting times ahead.

[rambutan2] 26/3/2006 21:06

couple of snippets: i've heard it said that wdb got the chop, or however either side cares to phrase it, because they were rather on the slow side getting off their bottoms and getting a fund raising sorted. apparently they were informed by bdi that they wanted to do a raising by feb, but just hadnt done anything about it. meanwhile brett miller at ruegg had a proposal.

the reasons they wanted funds was because cempaka just wasn't producing enough cash flow.
A) cos price of fuel in indonesia had whacked up hugely when the govt cut the subsidies (by 100%?) which meant that the truck hire firms whacked up their rates by even more, and
B) cos the diamond mkt is soft. no one quite sure of reason, as all are still bullish longer term, but prime suspects are debeers perhaps, or fact that the diamantaires made so much money last year they have been sitting on the sidelines for a bit.

So, a way to help get round reason A, is to buy their own fleet of trucks and be more in control of their costs on that front.

Meanwhile, having cracked (they think) the geology at woodlark (not an easy task and one which others had failed to do due to that thick lime shell) they eager to push on with a more aggressive drilling prog using 4 and not 2 drills. so they must be confident.

And also push on with cempaka part two. which should be completed in approx 15mths.

On the shares front, a certain well known hedge fund has been a seller, which fair enough as they pocketing a multiple. and we all know their game plan. so, no grudges. however, perhaps company could have been promoted better around town so there were/are takers for those shares, hence appoinment of mr lenigas whose job it is to do that.

Sounds as though still not completely decided as to whether to stay as one or whether to do the splits and separate diamond and gold. prob still taking soundings and open to any good ideas.

Most parties are (like us!) mucho disappointed with current share price (and therefore price at which funds were raised) and believe that it clearly does not reflect anything like the value of the assets they have etc etc.

in any case, that's the gist of my understanding on some of the fronts. as always, be wary of anything you hear from others! (like me!!)

[doobydave] 26/3/2006 19:14

Not averse to the idea of a collegiate beer - or most other forms of said commodity! Which spurs me to ask, when and where is the next AGM? Schedule allowing and all other things being equal , BDI interests me enough to make it worth the effort, with or without the amber incentive.
DD

[Abuse team] 26/3/2006 19:04

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[ged5] 26/3/2006 19:02

Are you from a different planet then or are you mathematically different? Either would explain your sensitivity I suppose!

Hopefully we'll get back to talking about BMG this week.

[ged5] 25/3/2006 08:02

Not annoyed. I just feel so humble to be in the presence of the fountain of knowledge.

I learnt something new so thanks from me as well. Glad you asked the question DD.

[doobydave] 24/3/2006 19:41

-->Unionhall,
Always good to meet a man a knows his bunions... I suppose I should be nice to you for while but not sure how long it will last :)


Seriously, thanks. Feel free to delete it all now, including the code and copious white space and then we can stop annoying Ged.
DD

[ged5] 24/3/2006 17:15

Thanks for the tutorial oh knowledgeable one but can you put the page back to normal please.

[doobydave] 24/3/2006 14:17

-->To Unionhall,

I see you've inserted a rather nice scrolling box into the MANO header. Is there any chance you could copy the code for that into an email to me? Imitation / flattery etc... I'd like to put one into the new LDO thread header but lack the skills - I can do scrolling graphs but not text.

Could you post whether you are willing to help, please? If so, I will put up my email address at a time to suit you before deleting it.

Muchos gracias,
Dave

[ged5] 23/3/2006 08:33

unionhall, good to see some write-up of the diamond resources. With it following on so quickly after an update of the increases in the gold resources our city "friends" will become even more confused.

Probably see a half pence reduction in price today then.

Was it you, David Black who suggested we don't have a voice in the city. About time we did.

[Abuse team] 23/3/2006 00:02

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