bmb in a nutshell

I posted this elsewhere, so it deserves to be here too!


Looking at BMB to see if it can maintain yesterdays 20% gains. 2.5x average volume yesterday, so if there's any such volume today, I'm hoping to make the most of the liquidity to offset some of my long term holding.

BMB looks great on the charts, generally oversold, MACD and Stochastics showing a good steady upwards trend over the past month, and the 50/200MA looking to cross over shortly. Trading above the bollinger, and the MA's. All signs pointing to the stars IMO, for a breakout and continued run, expecting a 15c close by mid next week, with further speculation that BMB's togo phosphate tender will be awarded imminently, with expectations of a near term 40c payday if they pull it off.

Recently acquired a project in Poland for a previously in product coal mine, which, they believe, with current technology can be brought back in to production with much lower overheads. Coking coal plants in close vicinity to the mine, and previous operations mean a network of existing tunnels/shafts already exist, which further reduces capex.

They are looking to divest a number of their projects which could see a cash position exceeding $30m depending on which assets are sold (DYOR - this is based of community based valuations of the assets)

Cash in bank around $2.5m at last count, market cap $37.7m, share buy back in the last week of $3.3m which further reduces shares in the market. It's sitting pretty.