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BGL - Belleview Gold

Discussion in 'Stocks 0-H' started by System, Dec 14, 2011.

  1. System

    System Administrator

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  2. noirua

    noirua

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    Due to return from suspension in early January 2012 for us following this stock. The small cap coal sector has been slammed and DRG with it. The cash raising fell into the problems of a decline in coal stocks with a fall in the amount raised in the placing.

    Highly prospective with high grade coal in very thick seams, but like others before them needs to raise a lot of cash and a long way from being a producer.
     
  3. springhill

    springhill Make the drill work for YOU

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    DRAIG REPORTS MAIDEN JORC COAL RESOURCE FOR TEEG LICENCE, MONGOLIA
    Highlights
    • Maiden JORC reportable coal resource for Teeg licence of 75 million tonnes
    • Teeg exploration target of up to a further 25 to 100 million tonnes1
    • Evidence for a significant deposit of high grade coal with metallurgical potential
    • Resource defined following initial exploration drilling program
    • Target drill areas identified to further explore licence area
    • New exploration program to focus on Draig’s South Gobi licences

    Further Exploration Work
    The JORC report identified at least 4 coal target areas to drill systematically in order to confirm the structural model proposed in the report. Draig intends carry out further exploration work on the Teeg and nearby Nariin Teeg licences in the future with the aim of increasing its coal resources in this area.

    The Company is also looking to undertake a coal quality bench marking study on the Teeg coal quality to help understand its position it in the coal market.
    However, the Company will now focus on its parcel of licences within the South Gobi region in order to gain a better understanding of the Company’s overall coal portfolio logistical integration and due to the better climatic and logistical access to the South Gobi in the Mongolian summer months. Draig is finalising its South Gobi exploration plans and will provide an update to the market in due course.

    DRAIG COMPLETES TEEG DRILL PROGRAM WITH THICKEST COAL SEAM INTERCEPTS TO DATE
    Highlights
    • Coal seam intersected with apparent seam thickness of 86.28m (BT_37)
    • Seam was continually intersected over range of 27m to 146m depth
    • Twin cored angle hole with 30m selected intercepts at < 82m (BT_37C)
    • Coal quality testing underway
    • Phase 1 drill program complete with over 6000m, Phase 2 planning underway
    • Mongolian Office established ‐ General Manager appointed
     

    Attached Files:

  4. greggles

    greggles I'll be back!

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    Draig Resources have found gold at their Belleview Gold Project in Western Australia, propelling the share price north this morning. At present DRG is trading at 23c, a 100% increase on Friday's close.

    Here are the highlights from today's announcement:

     
  5. System

    System Administrator

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    On July 25th, 2018, Draig Resources Limited (DRG) changed its name and ASX code to Belleview Gold Limited (BGL).
     
  6. greggles

    greggles I'll be back!

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    It's been a fantastic October so far for Belleview Gold.

    It all started back on 26 September when the company announced that diamond drilling had intersected high-grade gold at the Tribune & Viago Lode discoveries at the Bellevue Gold Project.

    screenshot-stocknessmonster.com-2018.10.22-10-58-38.png

    Another similar announcement was released on 9 October in which the company reported further high-grade intersects from the Viago Lode.

    screenshot-stocknessmonster.com-2018.10.22-11-05-26.png

    Finally, today the company updated the independent Inferred resource estimate for the Bellevue Gold Project to 2.6 Mt @ 12.3 g/t gold for 1,040,000 ounces. That announcement has lifted the BGL share price 13.2% to 38.5c so far today.

    The news flow in the last month has been very kind to Bellevue Gold and the share price has reflected that. I wish I had been on it.

    big.chart-BGL.gif
     
    Wyatt likes this.
  7. Wyatt

    Wyatt

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    Hopefully drilling can lead to many more high grade intercepts for BGL to continue it's recent momentum and increase the current inferred resource of 2.6mt @12.3 g/t for 1.04Moz.
     
  8. The Triangle

    The Triangle

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    What a good looking prospect they have. And close to existing infrastructure as well. Very respectable grades (11g/t, 1.8moz), good tonnes. Directors selling shares to buy options, so there is confidence still with the upper ranks. Market cap is sitting at a reasonable level - certainly I wouldn't call this one undervalued. But with 6 rigs drilling and cashed up I see there being a very good prospect for more high grade hits in the future.

    I generally won't buy above the placement price. I think given a few weeks this will drift below 57 cents and hover around the mid 50cent range until the next lot of news. However since they should have 35+ million in the bank now and are drilling as we speak i think its reasonable to buy in today. Took quite a while to execute the trades!
     
  9. Padowan

    Padowan

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    I’ve picked BGL for the March stock picking competition
    The company announced a large increase to high to high grade gold resources recently which was followed with buying from the largest shareholder 1832 asset management

    caught up in the recent Coronavirus market meltdown I’m hoping the recent pullback is a short pause and momentum returns in March

    928CD46B-DFF3-4FB8-93D2-692BA2B2797B.jpeg
     
    Miner and debtfree like this.
  10. Padowan

    Padowan

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    Hopefully this is the worse pick I make in the monthly competition.

    I see now in a trading halt pending a capital raise. I don’t understand if there is an ulterior motive but why would you raise cash in this market if you don’t need it? Am I overly optimistic about surviving CV19 and BGL isn’t?

    it will be interesting to see how much BGL go for in this market I’m sure we will be flooded with capital raising from all listed entities that have had their revenue stream destroyed by CV19 and legislated controls in coming weeks

    5A7C1448-2DFB-49D2-A0DC-4C23C40039DF.jpeg
     
    Miner likes this.
  11. finicky

    finicky

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    Well by good fortune the M.D doesn't have to worry about dilution from yet another capital raising, having just exercised 20 million freely acquired options @ 4c. He's tripled his holding to enter the top five for a measly $775,000.

    If you have a look at the latest appendix 3B you'll see a long ribbon of options and performance shares they've awarded themselves. Every time I come back to look at BGL because I've forgotten why I rejected them the answer is right there, quickly found.

    The other thing is a geologist running a company with mining plans, usually a disaster, the most recent being DCN.

    How many shares have they issued over their existence? Unless they started off at $2.50, then I assume there's been a 1 for 10 share consolidation in its history. If so, their real share issuance is now over 5 billion in terms of the original shares. But then, that needn't bother management. Definitely not a turn- off.
     
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  12. Padowan

    Padowan

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    Have stuck with BGL for April competition.

    company has raised 26 million in a tough market at 8% discount to last close

    now funded to mid 2021

    time to deliver at A$2716/oz gold
     
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