Ann: Trading Halt, page-335

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worzel1

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22/02/16

09:22

Post #: 17079164
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Originally posted by JID ↑

Hi Speculator,

Glad to hear that you're doing well with RMS !! Here is Hartley's latest report (15/2/16) to update your broker report files:

View attachment 146606

Unless the firm has some very thick Chinese Walls then the report is a little disingenuous given the trading halt for a capital raising just days after this was released so take it for what it is.

On another note; you mentioned drilling and costs for BDR. Andy Kelly, the MD for DRM was recently quoted as saying drilling costs have fallen from A$40 per meter at the height of the commodities boom to just A$13 per meter now (didn't say what type of drilling). Likewise, Geoff Quartermaine from PRU has recently talked about the reduction in various costs associated with constructing a mine (in their case Sissingue).

Take away message is that BDR can get a lot of bang-for-their-buck now vs. a few years ago even if they are located outside of Australia. Additionally, shoring up the balance sheet against operational mis-steps during this wet season and/ or as credit markets look like they are starting to freeze up again (energy sector debt currently being sold off for cents in the dollar) is a wise move.

I did apply for shares under the cap raising (so according to Eshmun I must be mad) and was scaled back, so there are obviously a lot of other mad buggers around. A good sign that institutions, at least, have confidence in SJ, his team, the asset and the plan.

There is once again a lot of rubbish on these threads and a lot of ill informed posts. I'll check out of here for the time being. Look forward to talking to some of you guys on other forums.

Cheers
John

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".....A good sign that institutions, at least, have confidence in SJ, his team, the asset and the plan."

It is just very disappointing that the SJ team didn't feel the need to create the confidence and share the plan with the current owners of the company first.

But the message seems quite clear..... grab whatever scraps you can get hold of at the issue price because it's an absolute "steal".

BDR Price at posting: 24.0¢ Sentiment: Hold Disclosure: Held
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