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So from here… the news flow will be
- Mining Licence
- Proof of concept
- Funding
- production (commissioning of mine)
Meanwhile Philippines is a free carry.
Stateside - apologies, I wasn’t clear but yes - I was talking about guaranteeing funding through to producing proof of concept gold from the ore that is already lying around from back when the mine was in production. Following that, streaming funding should be easy to come by I’d expect - once the theory has been proven the project is derisked massively for potential financiers.
I haven’t bought anything that TW has pumped because I make my investment decisions off my own research, but I have on occasion read one or two of his articles which appeared to be badly researched, badly written, and clearly backed by his own agenda.
pwlx. It does not guarantee that at all. This is the money to fully fund proof-of-concept. Streamers need to be brought on board to fund the actual production of the yellow stuff. That's not finalised yet.
I don't know what your issue about TW is. I guess you must have bought something that he then went on to pull to pieces. It happened to me. Unfortunately I didn't listen to him about Eqt and 4D. More fool me. He was right and I was wrong. He did point me towards Bmv which (I hope) I will be eternally grateful.
Odd thing is; TW has just send exactly what you just said; that this is a good placing. Hopefully it will be but his timing is a little suspect to say the least. Back to long term holding; it was nearly even at one point but not now :(
Just going to repeat myself here, anyone listening to the charlatan that is Tom Winnifrith needs their head checking. He *always* has an agenda.
Now, onto matters that are worth our time discussing, this placing is a decent deal. Guarantees we’re funded all the way through to actually producing gold, which if anything is even more important than the TMUP news right now. Should give everyone a great deal of confidence. The TMUP was always going to come, it’s just a matter of time - funding was my biggest concern but now very happy.
Usual Aim tactics, but better than having the placing at 1.50 in my view. And we now know we’re off to the races once the permit lands.
Pumped by Tom Winnifrith just before another placing. Probably accidental but looks like Paterson has pulled his pants down and got him to rate it a strong buy days before an equity raise. That stinks.
Not the worst placing which sets the company up to get on with the development programme, and trades are mainly buys, so odd that it still drops. It seems the rule of thumb is the sp drops in any placing to the figure paid, regardless of size of deal or the reason for it. Right now things looks very promising, albeit taking the mountain permit being forthcoming - imminently as Patterson says again.
CharlesRyder. Go to StockBox and their interview with Colin. 9 or 10 minutes in. Apex Mine. Bought for 7 million sold for 180 million.
ID78, slight correction. The management have done it before but they didn't sell the business. The company they worked for had an offer for the mine which I believe wasn't accepted.
For me the biggest thing is the guys have done this before, developed an unloved asset and then sold the company.
The other one could turn around but the progress last year leaves you wondering if they are up to the job.
I also believe (here) they have a lot of skin in the game, £2mill of their own money?
Not invested here yet, but very keen to get involved before finding is announced
One on my watchlist but think BMV has a lot more momentum
Yeah I think so, and that’s the one I’ve lost faith in.
My plan was to start moving profits from there to here…. but that’s good obviously fallen apart.
I think he is more focused on GCAT
Are you still invested here? It’s beginning to look interesting.
-Love the free carry for Batangas.
-$7mill capex to get to production at Kochang
-AISC is $630 an ounce??
I have lost a bit of faith elsewhere, meanwhile these guys have done it all before, grades are excellent and the headline figures (above) are exceptional
Ajs,
I took these screenshots just for you ;) and yes, you may only refer to me as Warren from now on!
https://mobile.twitter.com/MMaker2015/status/1630894231479808000
Ajs,
You’re saying it as though it’s not possible for someone to buy-in near the lows and sell near the peak. Plus, I didn’t actually say I bought at the very bottom, at one point it had dropped a further 50% from the price I bought in at. I also didn’t say I sold it all at the very top, otherwise I would have made near £300k. Truthfully though, I couldn’t really care if you believe me or not. However, if you really need justification, you are more than welcome to go back through my comments from circa 3-years ago, where you’ll see the price I was posting at and then a comment circa 40p where I said I’d sold-up (although I actually still retain about 15% of my holding there).
I’m sure the someone like you will be questioning me here in a few years time too. Even though I’ve been accumulating BMV shares for near 5 years now, with an average of circa 2p.
Ref EUA, the price has dropped because it holds assets in Russia. TW was never discussing that a few years ago because the Russia hadn’t invaded Ukraine at that point. Similarly, there’s been very little dilution there, so not sure about the ‘confetti’ shares you’re referring to.
Going back to my previous point though, I was simply saying I’d be wary with his comments. As he has his own agenda, it may not be a true reflection of what is actually going on. Another example being the article he wrote on Beaufort, saying the FCA would not be shutting them down. Then about 3 months later they went insolvent after a fraud investigation by the FCA.
Panda
TW will obviously always push his own book. Not only here but also at Kefi, Skin, Opti, and others, he's already invested so it's in his interests.
I've subscribed to him for several years and fully understand he's not everybody's cup of tea.
Historically I've done well out of a couple of his tips (Pensana comes to mind) but many have, and still are, treading water.
He does however seem better informed as a bear, knowing what not to invest in.
EUA being a case in point. (you did well there Moneymaker, getting in at the bottom and slicing right at the top ;) )
EUA is now a basket case and a potential zero, you'd have to be nuts to invest there.
I've been in BMV before but sold out breaking even after a couple of years of not really going anywhere.
The investment case here now though is much more attractive. 5/10 bagger? Who knows but with a following wind, POG over $2k and a bit of luck, not out of the question. Good luck all.
Yeah right Moneymaker, course you did. Bought at the very bottom and held them all to sell at the very top. Are you Warren Buffett in disguise?
What about those who bought the EUA you sold at 42p and are now sitting on 90%+ losses? Would they have been wrong to listen to Winnifrith and the other bears pointing out that the share is a naked promote that will IMHO continue to place blizzard after blizzard of confetti shares and never make a cent of free cash for anyone other than its management?
But you're such a canny analyst everything you buy 50 bags, so you don't need to bother with the opinions of others.
If TW’s comments brings BMV to the attention of investors who then make their decisions based on their own considerations, then it’s no bad thing. There’s nowt wrong with a bit of publicity and BMV doe’s genuinely seem a reasonable investment with significant potential.
Yeh I’d be wary with TW’s comments. I remember him bad mouthing EUA and telling people ‘avoid at all costs’. Fortunately, I didn’t listen and saw it rise from 0.5p up to its height of 42p. I banked over £150k on that one and still have a decent holding left, all from a £3500 investment. Would’ve missed that if I’d listened to TW.
Ref the 5 or 10 bagger, as pwlx says, look at the financials yourself and it will give you an idea of whether the mcap will increase:
- NPV of $181m.
- $50m per annum average free cash flow generation.
- $630 per oz AISC. Gold is currently $1,808!
- Current mcap £16m.
Rather than listening to someone else re your investments, look into the company and projected South Korea financials yourself via BMV’s RNS’. It’s not hard to look at, and you can decide for yourself the risk vs reward potential.
Does anyone subscribe to Share Pr0phets?
Am I correct in thinking TW just released a podcast about BMV and tipped it to be 5 or 10 bagger?
Would be good to have a summary of what was said if my information is correct. I know he met with Colin Patterson a couple of days ago
healthy 600K purchase @2.3p for £13.8K this morning, someone is confident
One of the issues I find is that the short calls are good because the companies involved fail quicker therefore the results are quicker. The longs are usually decent in the very long run but entry timing is difficult. The analysis is usually sound but just too early therefore you get heavy underwater and then unfortunately a placing comes and makes it harder to recover. I was in too early on BMV as well but looks like it might finally make some money now!