BDI Mining Corp listed on Aim today raising 1.25m for their gold and diamond projects in south east Asia.

1) The Cempaka Diamond Project
An alluvial gem diamond project which commenced production in September 2004. The site will produce 5000 carats per month by the end of 2004.

2) Woodlark Island Gold Project
This property contains epithermal gold targets in a Tertiary Age island arc volcanic complex. The site is currently being test drilled ahead of a feasibility study next year. Management believe that this site has the potential to produce 100,000 ounces of gold a year with a total deposit of up to 2m ounces.

3) Bobaris Project, Sungai Pinang
The company has an agreement to earn up to a 70 per cent interest by spending US$500,000 in the Bobaris Block property in the Sungai Pinang area of the Meratus Range, south-eastern Kalimantan Indonesia. This is the likely source area for the alluvial diamond deposits for the Cempaka project.

Anticipate a steady steam of news over the next 6 months with cashflow from Cempaka confirmed and further very positive drilling results from Woodlark

http://www.bmdiamondcorp.ca/

One of the World's Most Attractive Alluvial Diamond Projects?

By Stephen Clayson
26 Apr 2006 at 02:52 PM EDT


LONDON (ResourceInvestor.com) -- BDI Minings [AIM:BMG] Cempaka diamond mine in Indonesia looks as if it is shaping up into a very serious asset indeed, but the market as yet has no idea. When Cempaka is combined with BDIs Woodlark Island gold exploration project in Papua New Guinea, alert investors are presented with an alluring package.

Cempaka



Cempaka is not just a development project; it is already in production at a noteworthy level. From here, two phases of expansion are being planned. The first has already been conceived in some detail, and is intended to result in a mine that produces 100,000 carats per annum, which would be a respectable figure by any standard.

The first phase of expansion is scheduled for completion by the end of 2007, while it is too early to say with accuracy when the second might be in place. The first phase can itself be split into two parts, with the initial part expected to be out of the way by early 2007, and to bring the mines rate of production up to the equivalent of around 60,000 carats per annum.

Naturally, operating costs can be expected to fall as the scale of the operation increases, and during the second phase of expansion they could fall particularly significantly. This is because there may be scope during the second phase to adopt dredge mining, using a dredge that BDI already owns.

This dredge was procured by a previous operator of the Cempaka project and used in a limited fashion, the time not really being right for its employment thanks to the small scale of mining that was then the order of the day. The dredge is now out of commission, but could likely be brought back on line at an acceptable cost; all that is needed are sufficient resources to warrant this.

The terrain of Cempaka, which is best characterised as a type of swampland, would be highly suitable for dredge mining, but to confer significant economic benefits, the method needs to be used on a fairly large scale. The mistake made by Cempakas early operator was to neglect this consideration, but what matters now is that BDI has been left with a piece of equipment that may prove very useful further down the track.

Estimates of the required capital expenditure for the first phase of Cempakas expansion are still being finalised, and will depend partly on how BDI chooses to source the new, larger scale mining fleet that is needed. Helpfully though, much of the infrastructure required to support expansion is already in place thanks to the projects status as an operating mine.

As well as gem quality diamonds, Cempaka produces and will continue to produce meaningful amounts of gold, platinum and of course sub gem quality diamonds that are nevertheless saleable.

The resource potential of Cempaka is very substantial and definition work is ongoing, making this a project that should have some longevity. But as well as delineating resources to provide for the mines expansion, BDI is searching for analogues to Cempaka nearby, and one area has already been marked out as of particular interest, with an exploration permit now applied for. To cap that off, the company is also carrying out early stage kimberlitic exploration in the uplands that lie inland of the mine.

Community and government relations as regards the project are good, with none of the well publicised acrimony that afflicts some of Indonesias other mining operations. The mines logistical situation is also an excellent one, with marine and air access an easy distance away by sealed road. All this makes Cempaka a high calibre development asset, and the potential for further discovery nearby is the icing on the cake.

Woodlark Island

Woodlark Island is the second string to BDIs bow, and is located on an eponymous outpost of Papua New Guinean territory. BDI has so far managed to outline a resource of 880,000 ounces, with the magic million expected to be broken later this year.

Bonanza grades have already resulted from drilling and Woodlark has a record of historic gold production, as well as handily simple metallurgy. The island is also well away from the fractiousness that afflicts some parts of Papua New Guinea.

There is a lot of exploration still to be done, and a multi million ounce deposit is definitely not unthinkable, but bizarrely, this project too appears to receive little recognition from the market.

Investment Outlook

There has been some rumination within BDI on whether to split the company in two, forming affiliated companies to focus on Cempaka and Woodlark. Undoubtedly, both projects are strong enough to merit their own companies, but the concrete advantages of a split are less than clear cut and nothing is presently in the offing on this front. Either way, BDI shareholders would be taken care of, making this possibility an essentially neutral one from an investment standpoint.

As things stand, BDI is a unique and appealing proposition, and those investors who get in before the market wakes up to this, as one day it must, could be especially richly rewarded

Well Wayne it's good to see that someone values undervalued stock. With Cempaka and Woodlark BDI mining have 2 excellent projects which should carry a share price well in excess of the 26.5p. In fact it should be double that at least. And why not? Because these hedge funds are still selling. Soon they will stop and this will just zoom to where it should be.

stockbunny, about NPV ---:::---

Usually the full name of a share is something like "ordinary fully-paid shares of 10p" which means the nominal value (or "par value") of each share is 10p, although shares usually trade on the market at far higher than their par value. There is something magic about the par value of the share, as usually a company isn't allowed to issue new shares for less than the par value per share. Usually, par values are set far below the float price so this never becomes an issue.

NPV means "no par value" so you might see a share named "ordinary shares of no par value" meaning the par value is zero. An individual company might have legal reasons for choosing its shares to be no-par-value shares rather than having a specified non-zero par value. This would depend on the company and the exchange(s) it's listed on.

NPV can mean net present value in other contexts, as explained in post 5 above.

BDI Mining beginning to tick up. I have held these for a few months now, and feel that there might well be something about to happen. Have a look at the current edition of Growth Company Investor - makes interesting news - DYOR

am

GOOD NEWS AS THIS TIDY MINING CO CONTINUES TO PUT IT'S HOUSE VERY MUCH IN ORDER - time to top up for this boy - dyor

AM



LONDON - 20th December 2006 - BDI Mining Corp. ('the Company') reports that it
has received an independent valuation of US$266 per carat for the first parcel
of diamonds recovered from initial Phase II mining at the Cempaka Diamond Mine
in SE Kalimantan, Indonesia.


The run-of-mine parcel of 702 carats was recovered from initial mining and plant
commissioning of the first open pit in the main Cempaka channel. Phase II of
operations at Cempaka have commenced and will target production of 100,000
carats per year.


Managing Director and CEO of BDI Mining Corp, Lee K. Spencer commented, 'We are
very pleased and highly encouraged with the valuation of the first stones from
the main Cempaka channel which so far have had a higher average stone size and
better stone quality than Danau Seran. And with a grade consistent with our
projections, we are hopeful that the high valuation will impact significantly on
revenues from Phase II of operations'.

More Good News - still a chance to but in at low price IMHO - SEE LATEST

BDI Mining Q4 diamond revenue rises 40 pct vs Q3
AFX


LONDON (AFX) - BDI Mining Corp said diamond revenues from the Cempaka mine in Indonesia rose 40 pct in the fourth quarter from the preceding three months as mining started in the main Cempaka Channel.

During the quarter, a total of 16,099.85 carats of diamonds were sold, generating total gross diamond revenues of 3.45 mln usd.

Operations at the Danau Seran channel continued to perform strongly, with record monthly diamond production of 6,524 carats achieved in October, the company said, but added that December output was down on previous months as high rainfall impacted mining operations. The impact has been minimized and operations remain on schedule, it said.

Drilling to the west of current mining operations at Danau Seran have confirmed the downstream continuity of diamond bearing gravels in an area previously untested, it added. Recent drill-hole data has indicated the potential to expand the current resource base and extend the life of operations in the Danau Seran area.

Despite continued weakness in rough diamond market conditions, the company said the medium-term forecasts for rough diamond prices remain strong.


dyor

AM

More excellent news just in ........


ADDITIONAL RESOURCES AT DANAU SERAN


LONDON - 13th February 2007 - BDI Mining Corp. ('the Company', 'BDI') reports
that recent drilling at the Cempaka alluvial diamond mine in Indonesia has
identified additional diamond bearing gravels in the Danau Seran channel, west
of current mining operations.


This newly identified western extension of Danau Seran adds an initial 1 km to
the known strike length, representing a 37% increase in linear length of the
mineable area of the palaeochannel. At present, the downstream continuity of
these gravels remains open with drilling continuing to identify additional
resources to the west.


Based on drill-hole results to date, these newly discovered diamond-bearing
gravels are considered to be comparable in terms of higher in-situ grades and
economic strip ratios as those encountered in other recently mined upstream
areas of the channel.


The additional resources have the potential to extend the life of mining
operations in Danau Seran, which were originally expected to cease in the first
half of 2007. Mine planning is now being undertaken on these new resources with
the aim of mining Cempaka and Danau Seran concurrently, allowing greater
operational flexibility.


Managing Director and CEO of BDI, Mr. Lee Spencer, noted 'These drilling results
prove very encouraging. The fact that we may be able to extend the mine life of
Danau Seran, especially in a previously un-drilled area, serve to highlight that
the Cempaka region has the potential to be a long-term producer of diamonds. We
will continue to explore the area as defined by our Contract of Work boundaries,
in conjunction with the continued expansion of production with the move into the
Cempaka Main Channel'.



BDI Mining Corp is an Asia-Pacific focused mining and exploration Company whose
primary assets are the Cempaka Diamond Mine in Indonesia, and the 100%-owned,
Woodlark Island gold project in Papua New Guinea.

Good luck this bodes well for more growth dyor

Augustman