The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The reason for that drop in the sp from 70p is another story, is a bit of a complicated, with multiple factors affecting it, including a sharp fall in the price of iron ore, which was a bit illogical really.
And there was me thinking it was entirely due to sellers taking profits. Lol
Having recently confirmed the sale of my last remaining BEM shares I'm not going to be one of those Ted Heath types who hang about like a sore loser always moaning about the share.
But I must take issue with you that the current SP is down entirely to traders and profit takers.
That is clearly nonsense. If a company is good enough its SP will withstand profit taking after good news and even grow to bigger heights later. Whereas the BEM SP has seen a sustained retraction over a number of months due mainly to lack of progress both from the company and within Sweden.
Surely you understand that for every seller there is a buyer
I'm invested in 3 Colin Bird companies, four if you include the unmitigated disaster that is KEN.
But having made a shedload in JLP, I am definitely starting to feel that the smart money is in now in GLR for a multibagger in the shorter term rather than XTR.
Sold my remaining 80k this morning just before they dropped. Will continue to look in and may even post, if that's allowed Sooz. Lol.
If sp remains low next year and there's any sign that the Swedes are at all interested in getting this mine up and running, I'll be back in, assuming I've got some readies by then
Good luck all.
BTW. Unclemal You need to do some IHT planning sir. I believe charitable donations are exempt and the 3cardbrag Restoration Fund is always looking for financial assistance. Just saying.
re As they dilute the sh*t out of the share (which they will - it is AIM), the company will enter into the state most AIM companies enter - fit for breaking up at. Assets that are worth anything will be sold when the company is at its weakest. Just simple AIM probabilities
Sadly I would agree with you Gambier on that point for AIM companies based on my own experiences with a number of AIM shares. Not sure though that BEM falls into that category......YET
re BEM doesn't and never has generated any income
That's a very good point TFE. If you take the Colin Bird stable of AIM companies they are in many ways similar to BEM with concessions, drilling programmes, multi projects, low SP and past dilution.
Where they differ is that Bird's companies are now starting to receive income from some of their projects which dramatically reduces the risk of further dilution whilst we wait for our big payday.
Difficult to tell what with Vardar Minerals being a private company, but I'm assuming the funds we have invested so far have been used to specifically advance the project with new shares being created, rather than the existing directors just selling us some of their shares to us and having a good old knees up.
Now that we are majority shareholder we don't need to invest more unless it's on the basis that any new funding is split pro rata with the existing shareholders who appear to date to have relied solely on our goodwill.
Lb, I also believe a new dilution is not too far away. Just hoping for any news that might raise the sp prior to said fundraising
I have to say those grades quoted today do not sound all that spectacular. I am invested in several Colin Bird companies including XTR's Bushranger project. This is a large copper /gold porphyry system and grades are considerably better than BEM quote today yet not enough to pick the SP up off the floor. I can't see how cu grades of 0.1% and .48 gpt gold are economical to mine.
I'm assuming ghat this is just a taster from a very small number of drill holes and a lot more drilling to come. XTR have drill well over 20000 mtrs in around 40 holes costing several millions.