whats up 14c now, page-10

upgrade rutile to SR? does that give ruitle squared?

As stated many times previously, BMX completely shanked it by resorting to the three way merger. Pooncarrie is the only resource of any value, cable sands have simply become a drain on BMX's books. The plant is old, the resources are average at best and the incumbent workforce is top heavy and numerous. Similarly, BMX have now inherited SGW's production issues inherent at wemen since the outset.

I think BMX may be a buy around 10-12c and highly rate the snapper/ginko resource but there is simply no impetus to drive the price higher - all the merger has delivered is higher operating costs, exponentially larger share register and workforce and increased pressure for a smooth transition to mining at pooncarrie.

I'm sorry people but anyone who has a basic understanding of BMX's fundamentals should realise this is definately a 1-2 year hold before you will see anything close to the numbers being dreamt about by some on this board.

Most importantly however, has been mangements ineffectiveness at bringing what are, exceptional assests (pooncarrie) into production. The merger was a last resort and accordingly, you would have to be a fool to claim BMX has 'exceptional mangement.' On paper management are 'experienced' but anyone knows mean time in the job means F/A if you are a poor operator...simple.

+20c is a possibility by end 2005 but my point is there are far better plays when weighing up the risk factors involved and the ever balooning capital base. Better min sands plays out there, MDL are sitting on numerous nice projects + a high grade gold resource, MAL will get taken out by years end and there are numerous hardrock stories out there with potential including STB (my pick for 05), ORC and ADU at current prices.

I hope this one turns around for all holders but sometimes the reality is not what people want it to be. As always though the patient holders will be rewarded in the fullness of time; the resource is a cracka. management...er...nothing more to add...