The main activity of Biofuels is the large scale production and exploitation of biodiesel and glycerine following the construction and commissioning of the initial plant.

Biodiesel is produced from vegetable oils and, as an environmentally friendly product, can make a significant contribution towards reducing green house gases and meeting Kyoto targets.



RNS's from BFC can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=bfc&go.x=17&go.y=8

http://www.biofuelscorp.com/

Please do tell us mystical Stockdog. Im a novice at charts. Is the last spike called a 'Head & Shoulders'? If so, what does this tell us? (and no jokes about shampoo please!!).
wilbs

I can't tell anything much from the chart, since it is still pretty undefined - not a calssical h&s - too asymmetrical. I think largely oversold in a market looking for excuses to savage the price of small caps. Any bad news accentuated into a major crisis.

Forced to guess, I'd go for a major bounce when the market in general turns its face to the sun, but too unsure to put money on it. Since it has fallen sharply through the Aug, Nov, Jan uptrend line, there is no visible means of support above 140p.

Meanwhile, I continue to hold my free ride after profits, plus thre rights issue on my orignal holding.
5% up on cost - a far cry from theose heady days of over 100%.

Anyone got any fundamental figures on this share? Since it is imminent danger of actually trading (give or take a month!) we should start to do some proper analysis here.

SD

I am quite glad I did not go for the bounce...... since it is down over 17% today!!

Of course the same question remains today about whether this is a buying oppo!!??

rgrds
gk

I see you've been thinking what I've been thinking gallick...to coin a phrase.

Not touching It till It stops falling, and might not touch It even then.

Well this looks like a bounce to me.

Solid support levels at 140p as we all knew they were cheap at that price a few months ago.

The current market cap of 60m against annual profit of 14m is very favourable. Especially if they set up another factory and start making 28m a year. That puts them on a prospective PE of 2!!!

Time to get back into this one me thinks!

looking cheap now. Going into it before it bounces big time.

From shares mag today.

Interest in alternative energy sources continues
to hot up and has had a mixed effect on shares
in Biofuels (BFC:AIM). The company listed at
around 70p last year to raise money in order to
build its first plant converting vegetable fat to
diesel at Teeside.
The shares took a while to grab the
markets attention but soon rocketed up. Since
the interim results in November, the newsflow
pace has picked up, with a new finance
director joining in February, followed by strong
trading news at the AGM in March and news of
a 33 million fund raising at 230p.
But then it all started to go wrong. The
management told markets that construction of
the plant was on time and within budget, but
just a few weeks later said there would be
delays, with lower revenue from the German
market. This has put the dampeners on the
shares, which have fallen by nearly a third in
the last month to 167.5p.


wilbs

What Shares does not say is that BFC intend to replace the German sales with higher value sales in UK - the statement suggested this would be neutral to me
.
Also, I am not convinced 4 weeks delay is worth 1/3 the SP. So it's a definite buying op with a perfect bounce at the 140p support level IMHO.

Although having broken below the 200dma I guess the renewed upward track will be at a less precipitous angle than its initial rise to the peak of 306.

If the technology is fully proved to work by end of 2005, it must be a share of the future which we will all want to be part of.

SD

At work earlier I checked the price of BFC on my phone with FT.com and the SP was 265p!!! What a shock I had when I checked on another site and it was 145p.
wilbs

There was a rouge trade that went through at 256. FT prices are always based on the last traded price.

WHATS GOING ON WITH THIS ONE NOW.

Not looking good at the moment, 100p soon!!!
wilbs

The lower they go the better the buying opportunity!

For the last 3 three days the buys have far outweighed the sells on this stock. I can only imagine that the MMs are mucking about with it.

I can't imagine the investors in the rights/placing at 230p are impressed having been sold a bullish story one month before that was shown to be - how shall I put it - optimistic? How strange it is that things go wrong so soon after a fund-raising but not before!

Tallsiii - you attribute too much power to market makers. A share goes down through weight of selling over time. There is so much uncertainty in the recent trading statement (like a lack of guaranteed customers for production hen it starts), I am not surprised people are selling. Also, the buy/sell ratios are meaningless when prices are moving fast.

Bones - I agree with the first part of your statement. BFC must have had an incling that there was going to be a delay before they sold a load more shares.

On the second part of the statement I have to say that you are missing what determines the price in a market like this. There is no SETS trading book, the only way you can buy a stock it to go to a market maker and the only way you can sell a stock again is though an MM. Therefore by definition the MMs decide at what price they will sell and buy at. If there are far more people buying from them and are selling to them, then they are being unreasonable in consistently moving the price down.

The fact is that either they know something we don't or they are playing games.

Tallsiii

Tallsiii - my point is that when a share falls fast in a day, there appears to be more buys than there actually is because the selling price is reported a few seconds or more late by which time the offer price has dropped. The algorithm picks the trade up as a buy. Sure MMs will sometimes try to manipulate prices at the micro level to stimulate some panicky sells but at the macro level the price is down for a very good reason. There is enough uncertainty with the share and the business outlook for me to think the price will likely fall further. Technically 100p looks like the next support after 140p went today.

I see your point Bones, some of the buys may actually be sells. Usually these happen when a big order is not booked until an hour after the trade has actually taken place. You can spot them by looking at the time of trade and checking the prices of other trades that went through at that time. 100 does look look like the next support level to me also, i'll probably be buying more at that level.