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No rns some chanky sells not looking good . any one attended
Anyone going ?
I wonder if they will try and get some update out b4 the Agm?
Whilst there isn’t much value in Batangas for BMV, more so when it comes to a decision on funding production and we only have 40% left. It was valued at $6.8m in 2016, when they owned only 25%. Holding 40% and Au being near $800/oz higher, you’d think the mcap would increase somewhat from the current £4.1m just from positive news on Batangas alone.
So - according below paragraph from RNS of 27 Sep 2023, hopefully we get an update soon of drilling results from Phillipine mine.
With the appointment of drilling contractors being finalised, the planned drilling campaign is expected to be completed early Q1 2024. Post assaying results will be reported as the Company receives them. Once all results are received the JV will use them to formulate the mine plan for Lobo.
Pretty sure we've had 3 days of £40k+ buys
and I mean duel trades of 22k 3.5 million shares. definitely promising. imo
curious to see how long this goes for... could be a solid load up imagine if it carries on at the same rate for the rest of the month...
Hey Barry, any news
3.25m and 3.5m trades are interesting, spread too wide for put thru’s
Looking good,.
I suspect we should see a RNS soon in respect of notification of holdings
And a chunky trade at full ask there.
As much as the price is fluxuating.... the buys appear to be consistently larger and appear to be a steady load up.
IMO 2 4.4m buys at £30k today.
A few good size purchases yesterday, hopefully we will get the news we want this month.
DYOR
Nubi. Thanks for that. Relatively new here.
Yes RNS Aug 23 sold to catalyst
Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is pleased to announce that Catalyse Capital Ltd ('Catalyse'), a long running and supportive shareholder of Bluebird, has agreed to acquire Southern Gold Limited's ('Southern Gold') 122.5 million shares in the Company ('the Agreement'). The Board believes that the share purchase by Catalyse, that recognises the true potential of the Company's South Korean and Filipino gold projects, will remove a significant perceived 'overhang' in the trading of Bluebird's shares and allow investors to focus on the inherent value of the three-project portfolio.
Under the terms of the Agreement, Catalyse has agreed to purchase an initial 22.5 million shares in Bluebird at 0.55p per share with settlement due on the 28 August 2023. Southern Gold's remaining 100 million share will be purchased by Catalyse in four tranches of 25 million shares each, to be settled monthly from September to December 2023. Each of the four tranches will be priced at 75% of each month's VWAP for Bluebird's shares with a floor price of 0.4 pence.
Nubi. Thanks for reply. So does that mean Southern sold and then another party has picked them up?
Yes that was the same amount as Southern holdings in the last RNS 10 Jan 24 notification of holding so they are gone I think
I'm assuming this is a late reported buy which caused the recent rise. Any thoughts?
Yes looks to me that something is afoot, Friday the 2nd Feb there were THREE trades in total about £6K
today 27 trades 15.9 Million shares and average volume over 3 months is 5M
GLA
And more .... very positive momentum ahead of the AGM lets hope some good news coming
And some more chunky trades...3 mill just there
Was a 15m transfer. who knows, maybe..
Is that Southern gold sold out now , although trades bigger than their last RNS holding at beginning of Jan
Squib6, my understanding is that market makers aim to hold no net positions of stock neither long or short, Inevitably in the process of doing their job they will find themselves long or short but will strive towards zero and will look for opportunities and use methods to achieve that.
They are not investors, not speculators, but merely provide liquidity to the above and make a profit on the spread.
I spoke to a mm in November. He mentioned that people over-estimate how much info they have on the securities which they work with.
I can't answer your initial question about MM but I assume seeing mostly buys is due to the TR notifications suggesting that the seller is almost done and the SP around 0.6-0.7 is/was at the bottom so people loaded up - probably combined with anticipation of a positive news regarding the pending permit. If the permit lands, the sp should go higher and at that point no doubt there will be many sells as people buying around these levels will take profits. Time will tell.
What percentage of total stock do market makers usually hold?
Seems like the past few days have seen a beg volume of buys with not a lot of sells. Would have thought the majority of holders at this stage were in for the long term so kinda surprised the share price has not risen even further given the big volume.
Unfortunately, the previous government in the Philippines wasn’t very helpful at and tried to put a stop to all future mining developments in the country, which is why BMV shut up shop there about 5 years ago and wrote the Batangas mine off completely. Fortunately, the new government is the opposite and is encouraging mining.
The exploration was practically complete at Batangas by BMV’s previous partner, but for an open pit mine. The licence extension has been granted but for an underground mine only, so the new JV partner is conducting final exploration to enable a DMPF and ECC to be submitted.
Last time I checked, it is funded by the Junior Partner until it hit's a certain point. Then BMV will have to support the further progression.
The terms of that was split it with the JV, at a 40% us 60% them...
Please feel free to correct me if I misunderstood...
Also from my knowledge that project is still not added to BMV's books... in terms of valuation...
DYOR, there are others here with better knowedge of BMV than myself.