Member Info for JerseyCrew

Sorry Bolicus - not me but Bobat makes a good point. Just look at the large buys and the delay in reporting them - anyone not looking closely and relying on the chart would get the wrong impression and most people don't have the time to go into that detail. They are working the average punter here in my view. But that has nothing to do with BMV - just what happens after transformational news and a big uptick. They play with emotion and fear to create a reaction and increase trades - buying or selling - its how they make their money. Just my theory and I have nothing to back up other than watching over time.

Bobcat - would you predict a buy or sell? Im thinking sell but might well be wrong.

MM's seem to layering / posting the larger purchases across the morning to disguise the reality of a big sell being worked on - just my view at this stage until proven wrong.

Thankfully short term games have absolutely nothing to do with the mahoosive (my son's word) potential here. Time to cut the grass!

Whatever the cause it creates a false narrative in the graph. Unhelpful.

Interesting isn’t it - technical issue or a more devious reason? It was a buy.

Feels like a big sell order being worked upon but could be wrong

Were they trades though that stuck? Appear to have been contras- strange

These start games by the MM's do create opportunities - it was all too tempting for me!

I have said it before but worth repeating - think carefully before using a stop loss here - seen MM's drop the price to sweep up so many times on others stocks in the past.

There will always be sellers Bobat at every level and that is ok - its a market and people take profit at different levels and % - that's natural and to be expected irrespective of potential. Its also good to have some liquidity as it gives future investors confidence in my view. I actually think that gradual increases at this stage are a good thing - no one wants the spikes and misery they can cause imo. Who am I kidding - traders love a spike if they get the timing right!

So now disguising that I am a BMV supporter - I have been here for a few years now and the potential that attracted me when I first invested is even more relevant now:

- We are fairly unique in gold mining (ok there might be others I am unaware of) in that we looking to reopen mines - the only reason SK mines were closed was the economics in the 1970's - the gold price didn't justify the extraction costs - how times have changed with POG!

- We are not exploring for gold - we have known resources and just how much more can be discovered in the future?

- BMV has the technical expertise - check out Colin and Charles's CV

- Because we are reopening a mine the timeline to production is dramatically reduced of course

- If you consider the POG, there is still a disconnect with miners market valuations but that is likely to catch up in the coming years - given an added boost to the future value of BMV as it should benefit from this sector regrade

- The current low MCAP- I thought it was low a few years ago - now - well judge for yourself

- This first free carry deal is beyond my expectations.

For balance the new JV partner has yet to prove their worth and timelines are unknown. I am unclear on costs of processing plant that will be required but presumably already factored into the plan.

Lets see what games are in store for us today.

ATB

Thanks Guru- very good point - cheers

So evaluating a similar deal - interesting wording. To my eyes that means there is deal on the table to consider and highly likely to be the same backer given the stated advantages of having a local JV partner. So given they have been looking at this for some time, why the delay in releasing the news on Kochang? One of 2 possible scenarios to my way of thinking - either they are still working the numbers on the required capital amount to bring it back into production (presumably the % split will be the same or very close) OR the delay is part of a comms strategy to maximise the news impact by spreading announcements and build on the momentum of sentiment and SP appreciation. I understand that the market needs to be told as soon as there is news but it doesn’t stop the company from delaying signing the contract to suit their comms strategy.

Any other thoughtful on the matter?

ATB

These numbers could easily double given the low AISC and direction of travel for POG. Mind blowing comparison to the current MCAP

Open anyone??

I think so - whilst Aidan wouldn't be drawn on timelines I think that is obviously a very obvious and sensible strategy given the history and slow progress to date. I think we can all read between the lines to understand that this is going to proceed at pace now. Not only will our new JV partner have done due diligence on the mine, they will also know the process and possibly some of the key players in the Ministry of Trade, Industry and Energy in SK. The mine was only closed because it was uneconomical in the 70's - oh how that has changed and its a great opportunity for the SK government to make some money on the back of as well as provide local employment opportunities. Hopefully red tape will be cut through and we can move through the JV stages at pace - well thats my hope anyway. And then we have Kochang to look forward to - I suspect we will not have to wait for long but again perhaps just wishful thinking on my part. Strike whilst the iron is hot I say!

ATB

Presumably that 10M buy took some filling!

Good summary and admirable strategy.

As the saying goes - follow the money