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BGL, BELLEVUE GOLD LIMITED
blacksheep
post Posted: Jul 28 2019, 11:17 PM
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In Reply To: blacksheep's post @ Jul 24 2019, 11:50 AM

From Friday's ann - 26 July 2019 - $18mil CR

QUOTE
"“We are now fully funded to undertake significant infill drilling to further define the Bellevue Gold Project’s existing resource base in addition to expanding the step-out
exploration drilling program over the next 12 months.”"

From previous CR - 22 February 2019 - $20mil

QUOTE
"We are now fully funded to undertake drilling activities at Bellevue for the next 12 months.”


From previous CR - 26 October 2018 - $15mil

QUOTE
" We are now well placed to continue to rapidly advance drilling activities at Bellevue, including the very high grade Viago Lode"


One too many "fully funded" for my liking. Let's hope they really are NOW "fully funded" for the next 12 months in terms of the drilling program




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 24 2019, 11:50 AM
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Posts: 6,791
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In Reply To: blacksheep's post @ Jul 15 2019, 03:20 PM

Went into a TH and announced a CR to raise $18.5m, yet they still had $19.8 m in cash as at 30 June 2019 from the CR undertaken in February this year ($20m) and a prior CR in Octobery 2018. No doubt they are taking advantage of recent surge in gold price/gold stocks.

QUOTE
FULLY UNDERWRITTEN A$18.5M PLACEMENT TO
FUND ONGOING EXPLORATION ACTIVITIES AT THE
BELLEVUE GOLD PROJECT
• Bellevue has launched a fully underwritten institutional placement to raise
a total of A$18.5 million (before costs)
• Shares under the Placement will be issued at A$0.57, representing an 8.8%
discount to Bellevue’s last closing share price
• The Placement is fully underwritten by Canaccord Genuity (Australia)
Limited
• Proceeds from the Placement will be used to fund ongoing exploration
activities at the Bellevue Project


Also taking advantage are directors

QUOTE
Director Sell-Down
In conjunction with the Placement, the Company also notes that Ray Shorrocks (Non-Executive Chairman),
Steve Parsons (Managing Director) and Michael Naylor (Executive Director) (together, the Directors) intend
to sell shares in the Company at the Offer Price (Director Sell-Down). The Director Sell-Down will be for up
to approximately 12.0 million shares, for total proceeds of up to approximately $6.8 million.
The Director
Sell-Down is not underwritten.

The Director Sell-Down would result in up to 19.79% of the Directors’ aggregate holdings1
in the Company (1Includes all shares, options and performance rights held by the Directors and their related entities.)
and 1.97% of the current total fully diluted share capital of Bellevue Gold being sold. A portion of the sale
proceeds from the Director Sell-Down will be used by Steve Parsons and Ray Shorrocks to exercise
outstanding options that they currently hold in Bellevue Gold
. Specifically, Steve Parsons will utilise sale
proceeds from the Director Sell-Down to exercise approximately 15 million outstanding options, which will
result in Steve Parsons holding approximately twice as many shares in the Company as prior to the Director
Sell-Down. Furthermore, following the completion of the Placement and Director Sell-Down, his total security
holdings1 will represent approximately 5.7% of the fully diluted capital of the Company.1

The Director Sell-Down represents the first occasion that the Directors have sold any shares in the Company.
Furthermore, the Company notes that since the appointment of Steve Parsons as a Director on 31 March
2017, the Bellevue Gold share price has appreciated from $0.038 to $0.625, representing a ~16 fold increase.


Wonder what the price is of the options Parsons & Shorrock want to exercise



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 15 2019, 03:20 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Feb 20 2019, 10:48 AM

QUOTE
Note - DRG has had a name/code change - now Bellevue Gold Ltd - BGL


Has had to retract 2 slides from its recent presentation

QUOTE
The Company retracts slides 4 and 26 of the presentation released today as the
ASX believes it does not comply with the ASX guidance on peer comparisons.


Not surprised they were pinged. BGL's resource is an INFERRED resource whilst some of the others are MEASURED, INDICATED and INFERRED - hardly comparing apples with apples. Surprised management allowed.
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 20 2019, 10:48 AM
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Posts: 6,791
Thanks: 2305


In Reply To: blacksheep's post @ Jan 18 2019, 11:55 AM

Note - DRG has had a name/code change - now Bellevue Gold Ltd - BGL

In a TH, about to do another cap raise. Canaccord looking at raising $20 million in a placement of 36.4 million new shares @ 55¢ each - a 9.8% discount to the last close The last CR was in Oct 2018 raising $15m - 45m shares @ 34c. Canaccord acted as sole lead manager and bookrunner to the placement - Sprott Capital Partners and Patersons Securities Limited acted as Co Managers to the placement

"Huge open in every direction as well. Won't stay at these prices for long" posted by strong supporter/friend of management shimmer on HC after BGL's recent ann dated 5/2/19 - the SP was 54c at that time and proceeded to rise to a high of 66.5c before tapering off just prior to CR ann. Some were shocked that the company needed to CR so soon - after all they had $13.7m in kitty as at 31/12/18, however expenditure this current quarter was estimated to be $6.4m.

On the 12 Feb 2019 [b]Canaccord[/b] came out with their - "The beginning of something special" report" - accompanied with a target price of 80c - this would increase "if the sharks were circulating" (a takeover shark) to $1.00. On top of those targets, they also said - "BGL's DecQ18 cash balance was A$13.7m and the company is well funded through to 2H 2019"

Sprott Eqity Research also came out with a recommendation on 8 February 2019 - according to Top 20 shareholder Tolga Kumova noted in red below, Sprott is "giving a comparable valuation between $1.18 - $2.56 and the resource base is only just beginning, etc, etc"

To 20 shareholders as at AS AT 10 SEPTEMBER 2018
1 HSBC Custody Nominees (Australia) Limited 26,292,800 6.54
2 Kitara Investments Pty Ltd 21,000,000 5.23
3 Sunset Capital Management Pty Ltd 17,400,000 4.33
4 Macquarie Bank Limited 15,000,000 3.73
5 J P Morgan Nominees Australia Limited 11,998,895 2.99
6 Kitara Investments Pty Ltd 10,263,729 2.55
7 Konkera Pty Ltd 9,930,806 2.47
8 Campbell Kitchener Hume & Associates Pty Ltd 7,530,405 1.87
9 Sisu International Pty Ltd 6,968,672 1.73
10 Kobia Holdings Pty Ltd 6,500,000 1.62
11 Lantech Developments Pty Ltd 6,100,000 1.52
12 Sisu International Pty Ltd 6,000,000 1.49
13 Kingslane Pty Ltd 5,500,000 1.37
14 Beez And Honey Pty Ltd 5,400,000 1.34
15 Mr Mark John Bahen & Mrs Margaret Patricia Bahen 5,345,735 1.33
16 C G Heath Pty Ltd 5,317,000 1.32
17 Briant Nominees Pty Ltd 4,850,000 1.21
18 BT Portfolio Services Limited 4,000,000 1.00
19 Symorgh Investments Pty Ltd 3,933,333 0.98
20 Nero Resource Fund Pty Ltd 3,728,955 0.93
Top 20 Total 183,060,330 45.55

Interesting to note that yesterday - the day before entering a TH for a discounted CR - gross shorts were much much higher than normal - 736,219 - was someone in the know or just a coincidence?
https://www.shortman.com.au/stock?q=bgl
QUOTE
Tue 19th Feb, 2019 736,219 450,488,739 0.16% 1,737,890 42.36%
Mon 18th Feb, 2019 70,825 450,488,739 0.01% 1,404,116 5.04%
Fri 15th Feb, 2019 41,402 450,488,739 0.00% 1,372,937 3.02%
Thu 14th Feb, 2019 62,624 450,488,739 0.01% 2,698,482 2.32%
Wed 13th Feb, 2019 2,173 450,488,739 0.00% 1,227,987 0.18%
Tue 12th Feb, 2019 25,638 450,488,739 0.00% 2,793,114 0.92%
Mon 11th Feb, 2019 53,808 450,488,739 0.01% 3,385,389 1.59%
Fri 8th Feb, 2019 29,617 450,488,739 0.00%
Thu 7th Feb, 2019 49,671 450,488,739 0.01% 1,904,625 2.61%
Wed 6th Feb, 2019 51,587 450,488,739 0.01% 5,310,143 0.97%
Mon 4th Feb, 2019 5,200 450,488,739 0.00% 1,267,178 0.41%
Fri 1st Feb, 2019 10,280 450,488,739 0.00% 1,300,633 0.79%
Thu 31st Jan, 2019 4,659 450,488,739 0.00% 954,589 0.49%
Wed 30th Jan, 2019 588 450,488,739 0.00% 1,363,350 0.04%
Tue 29th Jan, 2019 1,176 450,488,739 0.00% 1,118,458 0.11%
Thu 24th Jan, 2019 776 450,488,739 0.00% 1,359,376 0.06%
Wed 23rd Jan, 2019 24,504 450,488,739 0.00%
Tue 22nd Jan, 2019 887 450,488,739 0.00% 991,505 0.09%
Mon 21st Jan, 2019 6,219 450,488,739 0.00% 1,754,967 0.35%
Fri 18th Jan, 2019 18,075 450,488,739 0.00% 2,921,816 0.62%



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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 18 2019, 11:55 AM
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Posts: 6,791
Thanks: 2305


In Reply To: blacksheep's post @ May 3 2018, 03:21 PM

DRG has had a name/code change - now Bellevue Gold Ltd - BGL

Rocketship appears to have taken off.

Macquarie has named BGL it's "high conviction explorer" for 2019 - given it a 70c target based on the company becoming a producer.

Macquarie is currently the 4th largest BGL shareholder (according to 2018 AR) with 15,000,000 shares, or 3.73%. Of course we won't know if they are selling into the rise, since they are not yet a substantial holder

SP currently up 6.06% @ 52.5c

Short positions as at 11 January 2019 = 0.12%
https://www.shortman.com.au/stock?q=bgl
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: May 3 2018, 03:21 PM
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In Reply To: blacksheep's post @ Jan 25 2018, 07:51 PM

Just checking to see how DRG is going. This stock was described as a "rocketship" on HC - the Astronaut however seems to have left the cockpit - probably organising a seat on the next rocketship on the launching pad? biggrin.gif

Although, according to twitter, Steve Parsons is making a presentation to the Sydney Mining Club today and ERA have come out with a "research note", which according to the disclosure was commissioned and paid for - http://www.draigresources.com/wp-content/u...h-April2018.pdf Both these events might ignite enthusiasm?

QUOTE
Draig Resources Limited commissioned Keith Goode (who is a Financial Services Representative with State One Stockbroking Ltd ACN
092 989 083, and is a consultant with Eagle Research Advisory Pty Ltd ACN 098 051 677) to compile this report, for which Eagle
Research Advisory Pty Ltd has received a consultancy fee. At the date of this report Keith Goode and his associates held interests in
shares issued by Draig Resources Limited. At the date of this report, State One Stockbroking Limited or their associates within the
meaning of the Corporations Act, may hold interests in shares issued by Draig Resources Limited.


Was surprised to see in Evan Cranston's twitter feed this comment - giving advice to switch from one stock into two others in which he has an interest.

QUOTE
Evan Cranston @EvanCranston
Apr 11
Any $PGO shareholders out there should take note of this. There is a real risk that the Chinese won’t extend and will want to keep an ASX listing. For me it’s a no brainer to sell and switch into $MZZ and $DRG for gold exposure.


Yet further down he says
QUOTE
Evan Cranston@EvanCranston
Mar 28
More
I just read an announcement from a peer that made me quietly chuckle. It’s managment have been very vocal against one of our companies... I learnt a long time ago you don’t bag other people or company’s projects ever. Period!

https://twitter.com/evancranston?lang=en

Big gap @ 21c - will it be closed - SP currently 18c
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Jan 25 2018, 07:51 PM
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In Reply To: blacksheep's post @ Dec 4 2017, 04:03 PM

Not sure why they have to keep repeating this "tacky" revenge story - didn't read too classy the first time around?

QUOTE
Draig was one of many investment wins for Melbourne’s bustling mining investor Tolga Kumova last year.

In a perverse stroke of good luck, Kumova took up a 9 per cent stake in Draig in August at 5c a share when it raised $3.3 million to fund its Bellevue drilling program.

It was perverse because Kumova’s original investment was an act of revenge against nickel group Western Areas for not selling him some lithium assets elsewhere in WA that he thought they would.

Western Areas owns the old Cosmos nickel operation next door to Bellevue, with Cosmos having used an old pit on Draig’s leases for de-watering purposes.

It seems Kumova was harbouring thoughts of making life difficult for Western Areas as it sets about reviving Cosmos.

But Kumova was laughing it all off this week. He too is a believer in the potential for Tribune to be a new Bellevue.

He followed Parsons by topping up his holding in Draig earlier this month, pumping in another $1 million to take his holding to 12.08 per cent.

“When I saw Steve Parsons go and buy $75,000 worth of stock, I went and bought another million bucks worth myself,’’ Kumova told Garimpeiro.

“I know he knows his stuff when it comes to gold.

Kumova also made his own call on Tribune’s potential: “In my mind this thing has the potential to be one of the best gold deposits in Australia.’’’’


https://stockhead.com.au/columnists/bellevu...impression=true



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 4 2017, 04:03 PM
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In Reply To: blacksheep's post @ Nov 25 2017, 10:39 AM

QUOTE
My plan was literally to make them pay significantly for the displeasure of not working with me on the lithium deal - Tolga Kumova


Seems I was not the only one shocked by this comment - > Warwick Grigor - " I was quite shocked when I read the article". http://www.fareastcapital.com.au/imagesDB/...omm2Dec2017.pdf

Meanwhile, Draig continues to significantly increase its landholding by acquiring Yandal South Gold Project - entering into an option agreement to acquire further prospective tenements close to Bellevue and located between EAR & RED's processing plants - assume they expect to be able to utilize those in the future

https://www.shortman.com.au/stock?q=drg


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2017, 09:46 AM
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Posts: 6,791
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In Reply To: blacksheep's post @ Nov 25 2017, 10:39 AM

In a TH pending an announcement re Cap Raise - surprise, surprise

The trading action yesterday might suggest some punters either knew/guessed a TH was coming? Two previous TH and big news prior to today's CR

Big gap @ 12c might get filled, subject to price of CR

https://www.shortman.com.au/stock?q=drg
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 25 2017, 10:39 AM
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Posts: 6,791
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Revenge drives latest golden mining move by Tolga Kumova
The Australian-11 hours ago

QUOTE
My plan was literally to make them pay significantly for the displeasure of not working with me on the lithium deal - Tolga Kumova


He's talking about WSA striking a deal with KDR, instead of Clancy Exploration which he had an interest in, over the Forrestania lithium rights. Kumova had already lined up fund managers to invest in Clancy when WSA pulled out of the deal two days before - embarrassing him.

DRG's leases happen to include the underground decline portal that leads to WSA's Prospero nickel mine - Kumova saw an opportunity to get some influence over DRG and squeeze WSA.

Not sure why anyone would want to put this information out there in the media - sounds vindictive to me
https://www.instagram.com/p/Bb5QfaQnZrB/

Noticed an increase in short positions - https://www.shortman.com.au/stock?q=drg
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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