The quarterlies released don't really show us much but give us a good summary. - The idea that this seems like a good company is because of the Black Mountain Group in the USA. They have experience in start up's with sands, metals, carbon and obviously oil/gas. - I have a feeling that they don't want this subsidiary to 'fade out' due to their acquisition of an income assets in the states. 2.3 million USD if the oil stays at $82. - The ASIC penalty is something that would be the differences in 'green' policies from the states and Australia. A mistake they even accountants have trouble with when it comes to different standards and practices. - I would say the price drop in the charts is basically a company rounding down to its true value. If there is no income, then there is no value. This has changed. - Valhalla project is paused due to the monsoon season, this will start soon. I am not 100% sure, but I did research on this company early last year and Bannett has been eyeing off this project for a number of years before committing with BMG in the states.
The price might drop a little due to no 'news'. But I don't think the MC will drop that much more. I have a feeling these guys know the Valhalla project has something due to some research I have yet to find. I could be wrong, I have been many times.
BME Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
