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In reply to: AgentCooper on Wednesday 29/12/04 03:59pm

Hi Agent,AAM is a very similar storey.Just a bit behind BMO.They have a lot less shares on issue and a lot of news in the very near future.Prob be a stand alone mine.Shallow grades are excellent so very economic.I hold BMO and AAM. http://www.ShareScene.com/html/emoticons/king.gif

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It is nice to see a change of pace for this one.

 

I sold 1/2 my holding recently but I still think it has a way to go.

 

The XAU looks to be kicking up too so I guess most people think that gold has bottomed for now (currently 421.80).

 

I think there is some way to go yet for BMO .

 

Please do your own research.

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$12 million Share Placement Finalised

On 30 November 2004 the Company announced that it had arranged a $12 million

placement of shares, to investor clients of Bell Potter Securities Limited and Grange

Securities Limited. I am please to advise that the placement was today finalised

with the allotment of 48,000,000 ordinary fully paid shares at 25 cents each.

Shareholders approved the issue of the placement shares at a General Meeting held

on 10 January 2005.

The funds raised will facilitate early commencement of the staged development of

the Twin Hills Gold Project. Stage 1 will entail mining of high grade gold ore from

the 309 Deposit at Twin Hills and the treatment of the ore at a gold treatment plant

located at Rishton near Charters Towers, which is being acquired by the Company.

First gold production is scheduled for around the end of September 2005.

The Company today also allotted 200,000 ordinary fully paid shares to The Venture

Capital Group Limited in respect of part of the fees incurred in arranging the above

share placement.

Attached is Appendix 3B in respect of the shares issued.

Yours faithfully,

BMA GOLD LIMITED

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Announcements on evening of 25th show where the bulk of the sales on 21 Jan came from http://www.ShareScene.com/html/emoticons/unsure.gif

 

Maybe thats the last of those wanting to offload ... and BMO can carry on up again

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In reply to: thekiwi on Thursday 27/01/05 08:49am

The sophisticated investors who partook of the 48m of shares issued at 25c have had plenty of time now to take their profits...clearly many of them are happy to hold.

 

The selling depth is weak, indicating that shareholders are happy to hold and when the ocassional market seller turns up, off screen buyers are happy to wade in.

 

BMO is entering an interesting stage of development and I am happy to hold this one for awhile yet....it is certainly a difficult one to trade given the lack of liquidity.

 

Coop

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In reply to: john constantine on Sunday 06/02/05 12:43am

Hi John

 

I honestly can't see BMO paying dividends in the foreseeable future...the mine only has a 3-5 year life, and the company is more likely to use profits to acquire more prospective tenements and "build" a viable long term gold business.

 

BMO management have the right pedigree & experience to do that successfully - rather than just p$#ss the profits up against the wall but I just cannot see dividends being an option. I know that in their Research report Grange Securities forecast dividends but I'm not holding my breath.

 

Nevertheless, I remain optimistic about BMO's future.

 

Coop

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In reply to: AgentCooper on Monday 07/02/05 09:00pm

g'day agentcooper,i am not one to seek to bleed dry a successful small company,but i have the thought that a highly profitible short life mine should generate a swag of franking credits------creative capital management could find these credits a good home with shareholders,and improve access to capital as they do so........[and the blue sky is 'what if a bit more drilling proves up enough to extend the mine life a bit longer?]

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