Member Info for Dibs61

The 'Australian company' mentioned in the article you posted today is US - KOLAR GOLD. We are part of the JV to restart the historic Kolar Gold Mines. See the following link: http://www.thehindu.com/news/national/karnataka/rs-500crore-plan-to-revive-mining-at-kgf/article8311498.ece "In the EoI, a copy of which is available with The Hindu , it is proposed that the government provide support to take up the project. The BGML Employees, Supervisors and Officers’ United Forum and the BGM Employees, Supervisors and Officers’ Industrial Cooperative Society have together floated the new company. They are hopeful of roping in an Australia-based Indian company, Kolar Gold Company, to invest Rs. 500 crore in the project, he said." As you rightly say THIS is why the SP has been rising steadily in the past few weeks. No question whatsoever now. Its nothing to do with GMSI-Jonnagiri, thats just going to be an added bonus.

Blackburn11 - Great find! Well done. I'll do some more digging on this tonight but it is clear that things are now moving apace re BGML. The intriguing thing is the level of involvement within the JV that Kolar Gold will have. We do know that there has been a real working partnership between Kolar and the ex-employees of BGML over the past few years. It is clear that JMJ Minerals is the company formed by those BGML ex-employees which is mentioned in the article. I've been wondering whether there has been Indian buying going on here as well as domestic in the past few weeks due to the pattern of activity regards to volume. Somebody has known something and there have been some big wagers here by Kolar standards. Remember I've been here a long time so I 'know' the share. Very exciting.

Nice

Someone bought a half a percent of the company at full ask in one trade at cop. So it looks like this afternoons drop back involved some order filling. As I said earlier the buying is relentless. Any shares that come onto the market are quickly snapped up. This buy trade should set us up for another firm start tomorrow because Singers will be in the same position - no stock.

Oh yes just noticed its dated yesterday! My mistake. :/

I make you right of course…. Just I being facetious. ;)

Looks like a few didn't heed the warning. Got a bit excited and sold themselves short. Lets see how quickly they are snapped up.

The Kolar Bull doesn't knock you off. There is def something going on here. Relentless SP rise and buyers persistently prepared to pay a premium to get a decent wedge of stock.

To provide correct live spread : the TRUE spread here now is 2.35/2.55 mid 2.45

This stock out of fashion and not a lot going on but consequently very undervalued at ONE quarter of book value. Worth bearing in mind it normally tracks CPO price which has recently risen substantially so we're lagging and could see a delayed upwards retrace.

Has Kolar Gold specified as a 'bid situation'. Who knows? It's certainly one of the options in the strategic review. I know for sure that Vedanta Resources chief has previously said he would def be interested in the Kolar fields. And why not, there's still an enormous amount of gold to be mined from there not to mention the tailings.....

Yes it is fascinating and quite amusing on one level but irritating on another. The 1.95 trade was a complete false trade IMO deliberately put through to shake some shares down from the tree because the bid price was massively above what was a small trade at the time. I wonder whether doing something like that was within the morality of market regulations. It worked in as much as it shook put 450k soon afterwards but I suspect most people weren't fooled.

They've just put a clearly erroneous trade of 1.95 through! Latest tactic to panic people into relinquishing their shares? The true BID is way above what is quoted @ 2.37p!

Good grief. I think the penny has finally dropped. If demand exceeds supply the price must rise to a level where supply and demand match. Simple economics that the habitual market manipulators don't understand because they want control.

I wouldn't worry about the herd. We don't need them here. Savvy 'early mover' investors have been gobbling up what stock there was. Notice how despite the steep rise very few if any are selling. Tightly held. MM's short of stock hence the tree shakes and other tricks to try and keep this under control. Another thing I would suggest is that some people will see the rise and believe they have 'missed the boat'. They don't do the proper research into the stock that's required in all cases.

It's 2.16 on the bid. Showing sells as buys! One imagines we've got more larger orders they have to fill.

Look poor to me. Only modestly reduced losses. Still a long way from break even despite revenue growth. They just love splashing the cash here, that seems to be the problem, no financial control.

Faffing around again this morning. I can dummy sell good quantity for 2.15 which is the quoted mid price so we should already be displaying up but, as usual, Singers want to hide the demand they CANT meet.

Don't agree with some of it but Good well intentioned post. Recommended. That said, loyalty and good intentions don't necessarily make you money in the market. Just hope you are not becoming emotionally attached to this stock. Many an investor has come a cropper that way. I can recall several posters on these LSE boards who were quite evangelical and slavishly loyal advocates of their chosen investments. Their stocks crashed and they don't post on here anymore. Probably either because they were destroyed financially and/or got taught a very painful lesson. I'm not saying thats what will happen here I'm making a general point about investing which I hope you'll acknowledge. ATB

Chin up chaps. It could all change very quickly.