Share Name Share Symbol Market Type Share ISIN Share Description
Bisichi Plc LSE:BISI London Ordinary Share GB0001012045 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 265.00 3,660 00:00:00
Bid Price Offer Price High Price Low Price Open Price
250.00 280.00 265.00 265.00 265.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 50.52 2.50 13.96 19.0 28
Last Trade Time Trade Type Trade Size Trade Price Currency
13:48:04 O 500 269.15 GBX

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Date Time Title Posts
03/2/202316:16High coal price683
31/8/201814:45Bisichi Mining - Two Diverse Sources of Cashflow209
30/1/200813:38Mining minnow492
18/7/200212:27BISICHI - buyout ?8

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Posted at 07/2/2023 08:20 by Bisichi Daily Update
Bisichi Plc is listed in the Mining sector of the London Stock Exchange with ticker BISI. The last closing price for Bisichi was 265p.
Bisichi Plc has a 4 week average price of 250p and a 12 week average price of 240p.
The 1 year high share price is 490p while the 1 year low share price is currently 92.50p.
There are currently 10,500,000 shares in issue and the average daily traded volume is 2,988 shares. The market capitalisation of Bisichi Plc is £27,825,000.
Posted at 05/1/2023 14:53 by sage of suffolk
Colonial Coal International, ticker code CAD on TSXV exchange worth a look. 695 million tons of metallurgical coal in Peace River coal district of British Columbia.
The shares are changing hands for around $1.30. Thee assets are for sale with around 10 NDA's in place. Crucially the management have done this before. (google David Austin Western Coal Walter Energy). Two other Coal transactions done in British Columbia pre Covid in 2019 @ average price of US$2.20 per ton –
These deals suggest the share price projections below are conservative as we have inflation and the price of met coal has increased since 2019. The target take out share price is around $8 / $9 and hopefully this will happen in 2023 - maybe within 6 months.

Here is the investor presentation:-

Aide Memoir:- 174.3 m shares plus 9.1m options so total 183.4 million fully diluted shares, 695 million tons of metallurgical/coking coal.
Current target / for sale value is US$2 per ton, which is the in the ground value, equates to CAD$2.54.
695m x $2.54 is $1,76Bn. Divided by 183.4m shares gives us an initial $9.60 target share price.

Do review these links:-

Posted at 05/1/2023 14:37 by tim000
I sometimes reference World Bank Pink Sheets RBCT API-4 coal price data. I had thought these were based on spot prices, but in fact they're one-month forward prices taken from forward markets. API-4 outturn data quoted by BISI might be spot rates (they mention averages of weekly figures, but not whether from spot or forward markets). Nevertheless, the two are usually very similar, eg BISI quotes figures of $65/t, $125/t and $277/t for 2020, 2021 and 2022 H1 respectively, while comparable Pink Sheets figures are $66/t, $120/t and $259/t.

The Pink Sheets outturn figure for H2 is $324/t, giving a yearly average of $291.5/t.

The only other data I have is from the TGA Trading Update RNS last month, which quoted a YTD average (Jan-Nov) of $277/t, compared with $124/t in 2021 and $277/t in 2022 H1. Note the 2021 and 2022 H1 figures are the same as quoted by BISI.

Posted at 26/11/2022 07:35 by tim000
I’m more hopeful than you Andy on the share price. As a small cap with no liquidity, the share price will ultimately be determined by a few private investors’ judgement of fair value. Those few don’t care about esg, but do care about dividend yield etc. It would only take the Directors to declare a generous final dividend to see a large rerating imo. Other small coal stocks have seen dramatic price increases based on far less.
Posted at 26/11/2022 06:16 by andydaf
Firstly good to see more posts on this board.Short term price movements in coal does not alter the investment case here.If you believe as i do the world is short of energy fossil fuels and especially coal are the place to be.I am not a trader but instead try to recoup my initial investments through dividends.A world recession may well come but as soon as it ends energy prices will rise again.Bisichi in my opinion has at least ten more good years in front of it.The trick here in my view with coal/oil/gas is to keep your nerve,ignore short term price fluctuations and concentrate on a longer view.Due to esg in the west i do not think Bisichis share price will ever reflect reality,if it was listed on the jse it would trade on a p/e around 3 or 4.Let see what the new year brings but dont forget after the winter stockpiles will have to be replenished so in my view coal will not collapse as much as many might think.As always GLA
Posted at 30/10/2022 05:53 by andydaf
With coal prices still around $240 export and $150 domestic Bisi should be repeating something close to H1 profit.Dividend was mean for the first half but i am betting that Las will want a decent final dividend.With no attempt at publicity the share price has drifted down and now trades at a p/e of something like 0.6.Bens creek market cap 90million Bisichi market cap 26million.I know which i would rather own but it seems not many others would agree!as always GLA
Posted at 30/7/2022 08:05 by tim000
Yes, LAS has property assets net of borrowing and cash with a book value of £40 mn. If you net the current mkt value of their BISI shares off the mkt value of the company, you’re left with a residual of about £4.5 mn. So you’re getting an 89% discount to the book value of their property, with all the upside to the BISI share price. There is also the West Ealing development, which is ready either to be sold or built out in-house. They have a couple of loans to refinance this year, it would help them if BISI paid a large interim dividend. I’m not sure what else BISI can do with its cash. They are almost bound to address strategic issues in their interim results. If they say they will have a dividend payout ratio of say 50% (which is not unheard of in coal mining), the BISI and LAS share prices would surely spike up violently.
Posted at 26/7/2022 09:14 by tim000
In my view, the importance of the close partnership with BISI's minority BEE partner, Vunani, cannot be over-estimated. The government wants to promote BEE partnerships with good community standing (I think e43 found some commentary on the Quattro scheme being expanded in future), and BISI has always prided itself on being one of the first BEE partnership coal miners. It has rewarded Vunani with a 50% profit share of its recently acquired 8.1M tonnes of reserves, reflecting the role Vunani played in acquiring them. Vunani was also instrumental in BISI becoming a member of the Quattro programme, enabling it to export. Going forward, BISI brings mining expertise and access to cheap capital to the partnership, while Vunani has political and mining connections. I've mentioned the majors want to sell off some of their coal mines, and I guess become more balanced energy producers with green energy operations too. That provides opportunities for the BISI-Vunani JV to grow rapidly, at a time when thermal coal is in strong demand. Eskom has just opened a giant coal-fired electricity power station (Kusile), near to BISI's coalfield. It has a lifespan of around 50 years. Thermal coal demand is growing in China & India, and Europe now as well. BISI is incredibly well placed to benefit from all these events.
Posted at 16/7/2022 09:13 by tim000
It follows that, should the BISI share price increase by say £1 on news, the fair value increase in the LAS share price is 5.2p. Anything less is an arbitrage opportunity.
Posted at 06/7/2022 07:57 by tim000
BEN is barely selling any coal yet, and may need more finance until it reaches profitability. It sells met coal, prices of which have fallen below thermal prices. And yet its mkt cap is 4x that of BISI! Despite the BEN share price falling by over 50%! BISI is worth at least as much as BEN on any rational analysis. No doubt relative share prices will adjust in due course.
Posted at 19/6/2022 06:33 by tim000
Andy, on the ASX, CKA and AHQ have most long-term upside, the former starts mining in Indonesia in Aug/Sep, the latter started mining (in the US) and sales late last year. Both mine met coal. Both are fully funded now. Share prices have suffered from the general mkt malaise and are incredibly cheap. Much larger entities that pay large dividends are WHC and YAL. YAL is majority owned by a Chinese conglomerate which will almost certainly buy out minority shareholders, including Glencore! Another Chinese shareholder of YAL is selling its large holding to keep a lid on the share price, making the shares a real bargain. But I doubt Glencore will accept much less than twice the current share price, and the majority holder needs to act quickly - the Q2 results will be published in July and the interims in August. Like BISI, the results should be astonishing, and will add to the takeover price. Easy money as far as I can see. (A silly offer has already been made and rejected, another offer can’t be too far away.)
Bisichi share price data is direct from the London Stock Exchange
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