Bisichi Mining

What do you think?


Profile click here



Bischi = black, Anglo and Pacific = Red, ATH Resources (new float)= Blue.


Thanks to Goldfinger for flagging it up.

Nice one apple havent had time to flag it up myself as Im on holiday here in Spain.

It just keeps going on and upwards.

And dont forget the PROPERTY it owns. Market cap of about 11 million with a P/E of cica 13.5 and forward broker P/E of less than 7.

Exports call to China and India, and coking coal prices up over 100% in the last 6 months and look set to continue rising.

cheers GF.

This is the link with its properties, London and Associated Properties PLC, a listed company on the LSE, from last results...........................

CHAIRMAN'S STATEMENT

I am delighted to report a very successful year for London & Associated
Properties with a strong performance from both our wholly owned and jointly
owned investment portfolio of centrally located shopping centres. This year's
results reflect our longstanding strategy of actively managing our centres to
grow income and enhance values.

Fully diluted net asset value per share has increased by a substantial 32% to
88.58p as at 31 December 2003, from 66.98p a year ago. The principal reason
for this strong result is that our shopping centres and those in Analytical
Properties, our joint venture with Bank of Scotland, have risen in value by 12%
and 7.5% respectively, reflecting both our management input and a strong
shopping centre investment market. Additionally, to a lesser extent, we have
received a further boost from the exemption of some of our properties from the
stamp duty land tax which has added 1.7 million to our net assets. These net
assets are now 72.8 million including our listed portfolio at market value.
This compares with 54.2 million last year.

We also took advantage of the strong market for retail property, by continuing
our strategy of disposing of investments where we regarded immediate growth
prospects as limited. I am pleased to report that we achieved sales of some 16
million during 2003. This is in excess of book value and takes disposals over
the past two years to over 22 million, almost a quarter of our wholly owned
portfolio. The cash proceeds from these sales offer us tremendous scope to
invest in our remaining large town centre investments, to acquire new property
as opportunities present, and to grow Analytical Properties.

Our profits before tax rose in 2003 by 15% to 2.81 million from 2.45 million
on gross rental income, including our share of joint ventures, of 11.4 million
against 8.3million in the previous year. Direct rental income from our own
portfolio totalled 7.9 million over the period compared to 8.0 million in
2002. This is despite the loss of rental income following our property sales
referred to above. We contracted a net incremental 416,000 of rent on our
currently owned portfolio which will flow through to profits. We expect
further increases in rental income from our own portfolio during 2004 as
additional rent reviews and lease renewals are settled. Our current annualised
rent roll, following disposals, is 7.3 million and the estimated rental value
currently stands at 8.1 million.

The Board is recommending a final dividend of 1.525p per ordinary share, an
increase of 7%, which, if agreed by shareholders, will be paid on 9 July 2004
to those shareholders on the register as at 31 March 2004. Over the past five
years, the dividend will have grown by a compound 8.5% per annum.

The major event of the year was undoubtedly last August's 50 million
off-market purchase, through Analytical Properties, of the Church Square
Shopping Centre in St Helens. LAP invested 3.9 million of cash. Church Square
forms the dominant part of St Helens' prime retail core and generated, at the
time of acquisition, net annual rents of 3.6 million from 87 shop and two
office tenants including BhS, Boots, Next and River Island. I am pleased to
report that already we have agreed new lettings and rent reviews which have
added 210,000 per annum to the annual rent roll there.

Analytical's two shopping centre investments have been independently valued at
107.8 million compared to a combined purchase price of 95.3 million net of
costs. Analytical's other shopping centre investment is King Edward Court,
Windsor which we acquired in December 2002.

Today, LAP directly owns or manages retail property on behalf of Bisichi,
Dragon and Analytical with a gross value of approximately 220 million which
produces a gross annual rent of 18.7 million. This compares to 160 million
and 12.8 million last year.

Our strategy remains to invest exclusively in shopping centres that form a
significant part of the prime retail pitch in their respective town or city.
Our intensive approach to managing them includes refurbishment and part
redevelopment, to create better sized units and improve the tenant mix. Some of
these programmes, such as our proposal for Windsor, require significant capital
investment. During 2003, we invested 3.4 million improving and upgrading our
directly owned portfolio; a report of the progress in each of our major
centres' management programmes is covered in the Chief Executive's review.

Our associate company, Bisichi Mining plc, has had an extremely satisfactory
year with pre-tax profits more than doubling from 628,000 in 2002 to 1.475
million. Through its South African subsidiary Bisichi now mines more than 1
million tonnes of coal a year and has recently acquired important additional
reserves adjacent to its existing operation. Dragon Retail Properties, our
joint venture with Bisichi, also performed strongly and net assets grew by 27%
from 2.2 million in 2002 to 2.8 million following a series of strong lettings
and property disposals.

Finally I would like to thank my Board colleagues and all the LAP staff for
their hard work over the last 12 months in achieving these very good results. I
anticipate that 2004 should be another satisfactory year for your company.

Michael Heller

Chairman

22 March 2004 ENDS.

YUP theres hidden value in this one at a market cap of just over 11 million.

cheers GF.

Ticked up north again this morning.

cheers GF.

Now up 7p for the day, not bad. Coal and property assets in abundance well undervalued.

cheers Gf.

The comparitive charts of the coal miners on the market.



Bischi = black, Anglo and Pacific = Red, ATH Resources (new float)= Blue.

cheers GF.

Best to highlight these points seperatley as they can get lost in that detailed statement............................

Today, LAP directly owns or manages retail property on behalf of Bisichi,
Dragon and Analytical with a gross value of approximately 220 million which
produces a gross annual rent of 18.7 million. This compares to 160 million
and 12.8 million last year.

Our associate company, Bisichi Mining plc, has had an extremely satisfactory
year with pre-tax profits more than doubling from 628,000 in 2002 to 1.475
million. Through its South African subsidiary Bisichi now mines more than 1
million tonnes of coal a year and has recently acquired important additional
reserves adjacent to its existing operation. Dragon Retail Properties, our
joint venture with Bisichi, also performed strongly and net assets grew by 27%
from 2.2 million in 2002 to 2.8 million following a series of strong lettings
and property disposals.

cheers Gf

No move up in price yet but the volume is positive.

cheers Gf.

Thanks GF

First day it hasnt risen for quite a while, whats going on????????????.LOL.

cheers GF.

This is good news for Bisishi, as 80% of Gordon Resources' production is coking coal:

BHP Billiton to raise coke coal output
By Jennifer Inez Ward, CBS MarketWatch.com
Last Update: 12:27 AM ET Sept. 1, 2004


SAN FRANCISCO (CBS.MW) - BHP Billiton said Tuesday that it is doubling annual metallurgical coal production because of rising steel demand.


BHP said it will increase its production of metallurgical coal, which is converted into coke used in the steelmaking process, to around 100 million metric tons by 2010.

BHP Billiton (BHP: news, chart, profile) said the increase will be achieved through a $175 million expansion of the BHP Billiton Mitsubishi Alliance and BHP Mitsui Coal operations in Queensland, Australia.

The Melbourne-based company said it may expand its Illawarra coal unit in New South Wales and create new developments such as the Maruwai prospect in Kalimantan.

The mining company said the change in the rate of growth in the global steel industry in recent years has created a significant increase in demand for steelmaking raw materials, including metallurgical coal.

Production at the metallurgical coal mines owned by or allied with BHP was 58 million metric tons. BHP's share of the production was 34 million metric tons. The expansion will increase capacity to more than 60 million metric tons.

cheers GF.

I've been thinking about this one & if I was already in it then I would hold for a while but I wouldn't buy now.

I'm already in APF & I like that one better, much better.

Just look at the APF results.

No volume at all today, that must be a first for a long time.

cheers GF.

Nicely ticking up.

Wow up 4p on the day.

Apple are you taking into account the rising NAV on this ones property assets, because I still beleive its way undervalued and is a buy.

cheers GF.

Thanks GF, have you got any info/links on the property assets?

Yup apple its above this post on this thread probably next page.

cheers GF.

Watch out for these moving up again they always do.

cheers Gf.

GF, yep I read that but I meant more info/links.

I must have got hold of the wrong end of the stick because I thought BISI only had a small proportion the property assets managed by LAP. ie. 2.8 million.

How much of this property does belong to BISI?

Up she goes again, 2p on the day.

Apple I will check your query out, but dont forget 2.8 million of a market cap of circa 13 million with an increasing NAV is no small cheese especially when coal mining is its main business. In fact if you take out the property/estate assets you are probably talking of buying into a business on a P/E of circa of only 10, but I will confirm the nature of your query.

cheers GF.

Here you are Apple results 31/12/2003...............


Direct coal mining is now company's most important activity

Important new coal reserves acquired in 2003

Coal exports started through Richard's Bay Coal Terminal

New coal mining plant and equipment have significantly improved
production volumes

14% increase in value of UK investment property portfolio to 13
million,

Shareholders funds increased by 36% to 11.2 million


and in more detail.....................

Part of the strength of Bisichi Mining is that its mining activities are
underpinned by a strong UK retail property investment portfolio, managed by
London & Associated Properties plc. This portfolio, which is fully let and
produces a rental income in excess of 1 million per year, was valued at 31
December 2003 by independent chartered surveyors at 13 million, an increase of
14% on a like for like basis. The effective management of our property
investment portfolio by London & Associated Properties is well illustrated by
the performance of our investment in the centre of Northampton, which was
acquired in 2002 for 2.65 million and has been valued at 3.25 million as at
31 December 2003. Bisichi Mining also owns, jointly with London & Associated
Properties, Dragon Retail Properties, which has increased its net assets by 27%
to 2.8 m.ENDS.

So in other words we have a business in bisi on the stock exchange at a market cap of circa 13 million but in fact its property assets are worth 13 million plus, if NAV was to be updated how much now?, in other words broadly speaking the COAL MINING BUSINESS IS IN FOR FREE and thats what s pushed the shares up so highly over the last few weeks YIPEE.

cheers GF.

And it gets better Apple from the year end report.................

Turning to our other business interests, Bisichi Mining continues to own 100%
of Mineral Products Limited, which manages a portfolio of equity investments
with a weighting in mineral and natural resource stocks. This portfolio
provides Bisichi Mining with an easily accessible cash reserve.

WAY UNDERVALUED BUSINESS.

cheers GF.

Up she goes again a trully remarkable share. Mind like I say way undervalued.

cheers GF

Excellent. Thanks GF for getting me into this one.

Up 10p plus now chester.

cheers Gf.

See some sellers taking profits, sheer madness in my opinion. Way undervalued and see this rising a lot more.

cheers GF.

Thanks for the info GF.

Looks like I just missed out on a 6% rise this morning.

Price holding steady. Just been looking to see when they report results and last year they reported at the very end of this month so I would expect more or less the same this time with a rise up to the results.

cheers Gf.

Pity they don't have to do an RNS to announce the date then.

Not sure about that Apple, they migh have to.

cheers GF

No I'm not but they haven't announced it with an RNS & you suggest it is coming.

Other fully listed shares have caught me by surprise by reporting results but NOT announcing the date in advance with an RNS.

This was taken from UK Coals results today............................

"'International coal prices have remained high throughout the period and should
be reflected in higher prices in 2005 and beyond. We therefore continue to
invest in improved production equipment and in accessing new reserves at our
deep mines assisted by the Government's Coal Investment Aid programme.

Good news for Bisi and Anglo and Pacific investors.

cheers GF.

Share price well above short and long term moving average.




cheers GF

Bisichi Mining PLC, the mining investment company, will be announcing its
results for the first six months of 2004 on Monday 13 September 2004.


cheers GF.

ps, apple must have seen us asking about them.

:-)

Not much notice given eh!

Usual for mining companies, dead loss when it comes to PR.

How do you think the price will react given that I am sure we will have cracking results??????????.

cheers GF

Thanks GF for that.

Sideways, they are expected.

Up again this morning. Apple you may be right but these days its a guessing game sometimes with how prices react even after outstanding results.

cheers GF.

I think the useful rise will come some while later, maybe after a long but small drift down. The US election needs to be got out of the way.

May as well buy LAS they've a major shareholding in this company. Almost A bogof!

nice movement today AGAIN.

Yup moving up in anticipation of good results.

cheers Gf.

Looks to be moving in the right direction GF,an unusual mixture this company, but looks very promising.
Keep up the good work GF.
Cheers.

Hi Porky,

thanks for that but we all work hard on here, results in the morning, fingers crossed.

cheers GF.

Had an excellent run on these, decided to take some profits.

Results not as good as expected but there seems to have been an over reaction from MMs marking these down and a few sellers taking profits.

From the Chairmans report and the accounts we can see that it is the the moving of two sections out of the three sections at the mine at Black Wattle that as led to an increase in operating costs of 4.2 million from 3.1 million at this time last year.

A short term kick in the teeth but no reason to panic and I have added this morning on the fall.

Look at the plus points

Coal Prices up 21% and likely to go up even further

Nav per share up from 84.5p to 111.6p

All coal exports are guaranteed to be taken up

Increased production in the second half.

As I speak buyers coming back into the market.


Heres the part of the chairmans report that is relevant.............

Chairman's Review

I am pleased to report that in the 6 months ended 30 June 2004, Bisichi Mining
PLC made a profit on ordinary activities before taxation, depreciation, and
amortisation of 1,043,000 (2003: 1,166,000); this performance was broadly
similar to the equivalent period in 2003 and resulted from the need to move all
three mining sections at the Black Wattle Colliery during the period, two of
which as at the date of this report have been moved. Diluted net assets per
share, including listed shares at market value, increased to 111.6 pence at 30
June 2004, up 32 % from 84.5 pence in the comparable period in 2003.

cheers GF.

The full chairmans report now.............

Chairman's Review

I am pleased to report that in the 6 months ended 30 June 2004, Bisichi Mining
PLC made a profit on ordinary activities before taxation, depreciation, and
amortisation of 1,043,000 (2003: 1,166,000); this performance was broadly
similar to the equivalent period in 2003 and resulted from the need to move all
three mining sections at the Black Wattle Colliery during the period, two of
which as at the date of this report have been moved. Diluted net assets per
share, including listed shares at market value, increased to 111.6 pence at 30
June 2004, up 32 % from 84.5 pence in the comparable period in 2003.

During the first six months of 2004 there were a number of significant and
positive developments at the Black Wattle Colliery, our direct coal mining
investment in South Africa which have, I believe, laid a firm foundation for
strong future earnings.

The first of these developments took place on 1 April 2004, when the Black
Wattle Colliery, in conjunction with our partner Endulwini Resources, began to
export coal via the Richard's Bay Coal Terminal as part of a multi-year program
for black economic empowerment mines. The timing of this export program could
not have been better, as international coal prices reached historically high
levels during the second quarter of 2004 and presently remain very strong. In
order to take advantage of these high prices and, more importantly, lock in
significant margins over the next few years, I can now inform shareholders that
we have entered into a long-term FOB export contract with a leading
international trading company for our entire export volume.

Our coal export activities have not, however, distracted us from the South
African domestic market, where we have also had considerable successes,
achieving the highest long term pricing levels to date for our low phosphorus
product. The combined effect of the export and domestic price increases has
meant that our average selling prices in the first half of 2004 were 21 %
higher than in the second half of 2003.

With the strong demand for our coal, with long term supply offtake contracts in
place and with coal prices at unprecedented levels, the second significant
development during the first half of 2004 was that we committed to various
measures to increase production at the Black Wattle Colliery . In particular,
we concluded a SA Rand 25 Million financing facility with ABSA Bank to support
a broad programme of capital investment at the mine, including the purchase of
a Voest Alpine Continuous Miner. This machine was commissioned at the beginning
of September and I anticipate that it will materially increase production
during the last quarter of 2004.

Our UK retail property portfolio, which is managed by London & Associated
Properties plc, has continued to provide us with a reliable income stream. The
equities portfolio in Mineral Products Limited has performed broadly in line
with UK equity markets and continue to provide us with a ready source of cash
should it be needed.

With the major investment we have made at the Black Wattle Colliery to increase
production and with strong prices secured for both our domestic and our export
coal I am confident that the results for the full year will be good.

Michael Heller
Chairman
10 September 2004



cheers GF.

Taken from a poster from another site...............

Good luck, C. Today's results look a bit disappointing at first sight, but as topvest points out the second half should be very strong, so I'm hanging on.

PS Note that the properties which form a large part of the assets have not been revalued since the year end last December.

cheers Gf.

Hi GF.
Like you I still think the outlook is very positive shall be holding on.
Cheers.

Hi porky,

yes it has been a short term kick in the teeth and a little dissapointing something I never try to cover up like a lot when results go pear shaped. But I feel the extra costs as outlined above which affected the bottom line will in fact be the growth driver of this over the medium term. It was the moving of two of the 3 mining sections at the Black Wattle mine that led to the increased cost, but we are assured of greater productivity in the 2nd half which bodes well for the future. We also have a revaluing of the property portfolio to look forward to so the increased NAV figure given today is a lot lower in fact than what it will be when next results are announced.


cheers GF.

Im hoping we get a very quick recovery with this one.

cheers GF.

I'm hoping for a further dip first before I get in.

I genuingly wish you guys luck with this one and I possibly might regret selling. I made good money on this one and at the end of the day, thats what we're here to do.
Good Luck All.

Well its started off well and an immediate recovery looks possible.

cheers Gf.

Recovery on track, director buys 10,000 shares at 153p showing his confidence in the company...................

SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

All relevant boxes should be completed in block capital letters.

1. Name of company 2. Name of director

Bisichi Mining PLC Thomas Myer Kearney



3. Please state whether notification 4. Name of the registered holder(s)
indicates that it is in respect of and, if more than one holder, the
holding of the shareholder named in number of shares held by each of
2 above or in respect of a them (if notified)
non-beneficial interest or in the
case of an individual holder if it
is a holding of that person's
spouse or children under the age of
18 or in respect of a
non-beneficial interest

As 2 above As 2 above



5. Please state whether notification 6. Please state the nature of the
relates to a person(s) connected transaction. For PEP transactions
with the director named in 2 above please indicate whether general/
and identify the connected person single co PEP and if discretionary/
(s) non discretionary

As 2 above Purchase of shares



7. Number of 8. Percentage of 9. Number of 10. Percentage of
shares/amount issued class shares/amount issued class
of stock of stock
acquired disposed

10,000 0.096%



11. Class of 12. Price per 13. Date of 14. Date company
security share transaction informed

Ord 1.53 14/9/04 14/9/04



15. Total holding following this 16. Total percentage holding of issued
notification class following this notification

35,000 0.33%



If a director has been granted options by the company please complete the
following boxes.

17. Date of grant 18. Period during which or date on
which options exercisable




19. Total amount paid (if any) for 20. Description of shares or
grant of the option debentures involved: class, number




21. Exercise price (if fixed at time 22. Total number of shares or
of grant) or indication that price debentures over which options held
is to be fixed at time of exercise following this notification




23. Any additional information 24. Name of contact and telephone
number for queries




25. Name and signature of authorised company official responsible for making
this notification

M.C.Stevens- Company Secretary

Date of notification ____14/9/04_________________



cheers Gf

Hoping for another up day wednesday.

cheers Gf

I see this ones up already, showing results were a minor glitch in the long term scheme of things.

cheers Gf.

Bought a few yesterday after the drop at 147p.

Good for you Yorkie, by the way as Tenby(cat) now started trading on Share Bears new site?.

cheers GF.

Yes Tenby posts sometimes (didn't realise he or she was cat). Katie Price has registered but haven't seen any posts - I always liked reading her posts. I'm shorecrab if and when I post there. The sites pretty quiet lately. Anyway, if I go off-topic I'll have CW after me - or rather you will!
Glad to see these creeping back up past my buy price already.

I yorkie, thanks for that.

cheers Gf.

Back to top were it should be an outstanding performer of late and still way undervalued.

cheers GF.

All buys this morning so far, not many but buys they are.

cheers GF.

Looks like it could be on the verge of ticking up.

cheers GF.

I'm still watching this one, it has done so well that if it hangs around too long at this price then profit taking will set in.

So I'm waiting for a dip or more demand for the shares so see which way.

Think we will se a price rise. It still very cheap at these levels.

cheers GF.

And up she went today, what a corker of a little stock this one is.

cheers GF.

Perhaps the time has come to buy.

Would rather see more of a dip 1st though, the chart makes me nervous.

Apple beginning to think that this and Anglo move in line with the oil price, I think I have mentioned this before. No real reason but I bet alternative green fuels do the same.

cheers GF.

Up again this morning, nice.

cheers GF.

Moving up nicely now.

cheers Gf.

It was the time to buy, just look at it go.

I missed it!

I sold out too soon GF, just bought back in.
Wanted to buy 3400 worth through Comdirect ,was told that the order was too big to deal online had to place an order, to go through a dealer,what significance do you think this has GF.
Regards.

Not sure yet porky, its gone up 17p today on no news but as I pointed out yesterday it tends to follow the price of oil.

Its a cracking little company and Im in right up from 99p in tranches.

We could see profit taking in the morning so that would be a good re-entry point for investors.

It really is an under valued gem.

cheers GF.

Well done GF for keeping the faith after the results. I'm now looking to re-enter, IF i can get a reasonable price.

Wise move chester, plenty of upside left in this one.

Well profit taking went on earlier but buys now exceed sells so we might see some positive action later on today or on Thursday.

cheers GF.

Well, having missed such a lot of upside on this 1 & being rather worried about its' heavy involvement in property, I am looking for similar energy market opportunities that have not yet risen so much.

The property assets are currently undervalued but I see a high risk of a property crash.

The question is, will the share price rise to reflect those property assets before the property crash happens?

I just don't know but the share price has risen so much already so I'm looking for something else but I may come back to BISI.

As ever, timing is crucial.

I'm really trying to avoid exposure to the property market.

I still prefer APF instead of BISI, I made a nice profit out of APF but now i'm looking for another APF.

Do you disagree about the property risk?

Energy prices are doing tremendous damage to the world economy but they will take a while to work through the system to produce an avalanche of bad results in other companies. Then there will be a recession, energy demand will fall, energy prices will moderate but be unlikely to crash but energy shares will over react downwards.

At the moment, energy shares are the place to be & there will be plenty of warning about falling demand before energy shares drop.

However, I think I will never see the Oil price below $30 per barrel again & most of the time it will not fall more than 25% below whatever the peak turns out to be in the current economic cycle.

Long term, I may even place a bet on the Oil price reaching $200 per barrel in the next 10 years.

GF
You may be right about plenty of upside left in BISI
BUT I'm more cautious than you are.

I'm finding it so hard to decide about BISI but my caution has saved me from big losses in the past.

apple, if you'd bought this when you started the thread, or shortly thereafter, you'd be ok. I got in at 147 on the last dip and am now glad I did. You could have been in cheaper. I think your worries about the property holdings are unnecessary. Worst case is a bit of value loss on paper. But isn't it rental incomes that are important? Don't think they'd be dropping. Anyway, if it were me I'd wait for another decent dip now. Your caution may have saved you from some big losses as you say, but it may be keeping you from some good wins!

All the best

My goodness from the people who I TRUST.

Now lets get this sorted once and for all. I dont wont speculation on this one.

FACT IS ITS WAY UNDERVALUED.


Check out the Balance sheet.

This one will surely but slowly make you rich. ITS the truth.

cheers GF.

The god`s are smiling on this one today GF.
Thanks for flagging it.
I will now enjoy the ride.

Sorry guys about last nights outburst. Had a jealous type slagging me off on another board and was in a bad mood, my sincere appologies. Just going to have to ignore them.

Right apple because of that Im going to release a posting I took from Killik one of my brokers earlier in the week. I have been thinking more or less like you re- to new share that mines coal, I think this ones going to be a good un........

Cambrian Mining has announced a placing of new shares to assist funding its investment in Western Canadian Coal which is due to come to AIM in early October. Cambrian is an interesting story being what one would call a mining finance house but adding management expertise. The Coal story is interesting have been a strong pricing environment in recent months and they will soon be producing around 60,000 tonnes of the material per calendar month from the end of this year. They have visibility and finance to take this to around 200,000 tonnes per month within a few years. Cambrian also holds an interest in Asia Energy which was listed on the Aim market and soared on prospects for its coal interests in Bangladesh.

The placing of Cambrian Mining is at 58p to raise 3 million. We expect the stock to remain strong from here.ENDS.

Might be even worthy getting in now seeing that production starts december any thoughts on this ?????????????????????????????????????????.

cheers Gf.

BISI UP yet again!

GF, when you are right then you are VERY right.


Thanks for the info on Cambrian Mining, this is not for me, it's an AIM share.

I've had loads of cash in my ISA since I sold Cairn BUT as we all know, AIM shares are not allowed in an ISA.

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=2204

:-))))))))))))))

GF

Like apple Cambrian Mining not for me either but do like the look of SIA.

MS

Excelent post from a guy on another site.............

So what is all the fuss about? Why is BISI going up like a rocket? Seems to me some inside briefing may be taking place and that BISI's circumstances are even better than we imagine. So I will share what I think;

There has been a order-of-magnitude change in BISI's circumstance for the better. Very strong coal prices that seem set to stay, driven by an impending global energy shortage ie high oil prices seem set to stay as well.

At the same time the shrewd management of BISI has won a large fob export allocation AND invested in production expansion with precision timing. Quite extraordinary.

How might this increase BISI revenue?

Year Alc Revm

2004 272 07.6

2005 408 11.3

2006 544 15.1

Assuming; contracted price = $50 , Exchange rate /$ = 1.8

Note: In 2004 Black Wattle's share of the total allocation given to black empowerment companies is 13.6% (272k tonnes/2000 kt).

The profit margin on this extra revenue should be very good as the production output already exists.

However things could get even better;

It is quite possible that BISI negotiated a fixed price greater than $50, the price of coal was well over $60 for several months. The % allocations for 2005 onwards may be even greater. BISI should be upping production around now. To round off the golden scenario all we need is a decline in sterling which would boost revenue further.

In summary, the prospective figures are absolutely stonking. Even without increasing the % profit margin, or allowing for any other progress, I estimate 2006 eps at around 30p. Given a modest PE of 15-20 for such a growth company and you get a share price of 450-600p.

cheers Gf.

Could again be a bit of profit taking, but these are still way undervalued, please dont miss the bus.

cheers GF.

Up again she goes, not much today though.

cheers GF.

Well went into cambrian Mining this morning and now sitting on a rise of 21% in one day. Wish I had got in yesterday, still never mind a rise is a rise.

Bisi slipped back a little not suprisingly on profit taking from an excelent week.

cheers GF.

Surely its going to be up tuesday. Late comback monday with more buys than sells, still undervalued.

cheers Gf.

Up again guys and it jolly well should be a corker of a little miner.

cheers GF.

Soaring Chinese demand drives mining boom
By Jeremy Grant in Chicago

FT.COM Published: October 4 2004 03:00 | Last updated: October 4 2004 03:00

With its 2,400 horsepower engine, 300-tonne weight and bright yellow livery, Caterpillar's new dump truck makes a statement about the mining industry's health that is hard to ignore.


Caterpillar is struggling to fill advance orders for the $2m truck, which was on display in Las Vegas last week at the world's largest mining exposition. That is in spite of production of the 793D not starting until next year.

"We actually ordered 10 of them, but they could only give us five," said Laurie Voyer, general manager of Leighton Contractors, an Australian group.

Mining is booming, driven by China's seemingly insatiable demand for coal, iron ore and other commodities, and the resurgence of US manufacturing.

According to the US National Mining Association, mining is also expected to enjoy a boom year next year, building on this year's record volumes. That has created a bonanza in the mining equipment industry, spurring demand for diggers, excavators, bulldozers and diesel engines.

Clive Deary, mining sales manager for Detroit Diesel, said his company was sold out until March next year. "We had a business plan 12 months ago. We've doubled the numbers since then."

Yet the question remains whether this boom will eventually turn to bust - as so often in the chronically cyclical mining industry. However, many argue that future peaks and troughs - reflective of swings in the supply and demand of commodities - may be less pronounced.

Jim Owens, Caterpillar's chief executive, said: "I think that we are at the early stages of a fairly prolonged global expansion of mining capacity. It is going to have a good run."

Such optimism is based on two factors: a thirst for energy in emerging markets such as China and India that should create sustained demand for iron ore and coal; and consolidation in the mining industry that has created efficient operators better able to weather commodity cycles.

"In five years, South Africa's going to be running out of electricity. China's the same way," said Robert Stenger, chief executive of The Cincinnati Mine Machinery Co, which makes coal cutters and drill bits. "We're good for another 10 years."

Gerald Shaheen, Caterpillar group president in charge of North America and global mining, said: "The mining industry used to be very fractured. We now have 20 mining companies owning 80 per cent of capacity, so we've got a much better shot at rational management of capacity in this industry."

In addition, mining industries in commodity-rich countries once dependent on the health of their region are expanding globally to diversify earnings.

Ernesto Palacios, executive director of Minexport, an advisory group in Chile, said his members were seeking business beyond Latin America. "They are strategically preparing for times when there is little demand."

Yet concerns remain. Rising fuel costs are making contractors worry about the energy efficiency of their equipment.

Another worry is the effect any downturn in China might have in an industry where it now has unprecedented influence.

Furthermore, one large private manufacturer of mining machinery told David Bleustein, a UBS analyst in New York, it was "increasingly concerned about the ability of Chinese manufacturers to duplicate western mining technology".

And its now broken through 180p, 2 quid here we come.

cheers GF.

Fingers crossed but as usual some will take profits on this little corker.

Remember coking coal set to go up from mid $50s to $80s per tonne 2005, think of the valuation update.

cheers GF.

Hi GF.
Sold some holdings in AEN,PET, What a run.
Decided for once to bank some profit and use some to buy back into BISI yesterday.
It`s looking good,so I hope we have a good run today,it seems that anybody with something to dig out of the ground can`t go wrong at the moment.
I like BISI`s property element, put`s it into a different category from the rest of the bunch.
All the best.

Just buy LAS

Bisi going great guns again porky. Looks like you have made a wise move.

cheers GF.

Moved up a tick from this morning. Still way undervalued if coking coal does go up to $80 dollars a tonne in 2005 and all the idicators point to this.

cheers GF.

imo possibly the only miner offering the chance for big gains and if the others carry on at this pace then this has 5 minimum all over it.

Certainly agree with you there big bob.

cheers GF.

Do you think the spread will close it's 10p at the moment.

you have to accept the spread,its tightly held but this moves alot when it goes north.

Do you have a big holding then Bob? LOL.

cheers GF.

And finally my favourite share of 'all time'. Get some bought because these are well undervalued.

cheers GF.

Good old Mr faithfull is up again, not by much, but its up.

cheers GF.

suddenly burst into life as if tipped a few moments ago,broker note out?? nice tight spread now.

Up 18p wow, must have been my chart on the Faraj thread on our competitors site that as done it.

cheers GF.

THIS IS moving like some info got out,have topped up 3 times in 5 mins!! pe still tiny!!

Up again and I thinking we were in for a bout of profit taking.

cheers GF.

Ended the day up 3p, excelent.

cheers GF.

Is there some good news in the pipeline! do you think??

Not sure but I here from another site that an online tipping site tipped it Friday, which one I dont know.

cheers GF.

Something is wrong,

Sudden 12.74% drop!

Now down 9% but cant yet find a reason.

cheers GF.

Looks like a big sell off on all small caps. Just taken a look at my 30plus watch list and nearlly all down.

Makes it worse for Bisi being a high Beta, iliquid stock.

No going to panic and sell, will stay put.

Can go up quickly these so see no real problems.

cheers GF.

Don't like it,

I'm out!

Buyers coming in now and picking them up on the cheap.

17 thousand buys V 21 thousand sells.

Looks a good entry point for those not already in.

cheers GF.

Buys now 27k V 21k sells.

Not company specific, its just a short term market correction for small caps.

Often throws up buying opportunities.

cheers GF.

Price moving further north now, and buyes coming in and getting them very cheaply.

cheers GF.

Held up well later on in the day, coking coal prices now in the $60s per tonne.

Stick with this one or even buy it at this reduced price.

cheers GF.

Riding back up again, now over 2 quid again.

cheers GF.

Lifted off another board, looks like the tip from late last week..........

Soaring prices and black empowerment help Bisichi succeed

Two key factors lie behind the startling recent success of Bisichi. First is the dramatically rising coal price which has doubled, from $30 to $60 a tonne just since last April. This in turn reflects soaring demand in China, which has gone from being an exporter of coal to a net importer sucking in coal from Asia and Africa.

The second factor is black empowerment. Bisichi went the whole hog on black empowerment by selling a 37.5 per cent stake in its Black Wattle Colliery to a black-controlled company, which has then been instrumental in opening many doors to the company.

In particular black empowerment status has enabled Bisichi to become an exporter of coal through Richards Bay Coal Terminal. The company says that the long-term export contract it has been able to negotiate locks in a significant profit margin.

It is complicated to calculate exactly what effect a rising coal price has on Bisichi because of the mix of production between exports, coal sold into the local market and low phosphorous coal sold at a premium to furnaces producing stainless steel. At the half-year stage for the first six months of calendar 2004 the group said that average selling prices for coal were 21 per cent higher than in the second half of 2003. Since then the coal price has risen further.

Investors were initially disappointed when the interims showed profits falling from 746,000 to 726,000 with operating profits down from 1.00m to 883,000. However the company says this was a very good performance because it came despite needing to move all three mining sections at the Black Wattle Colliery during the period to exploit new reserves.

cheers GF.

Some interesting ratios on Bisi , just to keep us up to date.........

Investment Ratios
(Market value analysis) at previous day's close
PQ Ratio Premium Silver Data
PE Ratio 20.35
Tobin's Q Ratio Premium Silver Data
Tobin's Q Ratio (excl. intangibles) Premium Silver Data
Dividend Yield 0.93 %
Market-to-Book Ratio 1.82
Price-to-Pre-Tax Profit PS Premium Silver Data
Price-to-Retained Profit PS 25.07
Price-to-Cash Flow PS 9.35
Price-to-Sales PS 2.32
Price-to-Net Tangible Asset Value PS 1.85
Price-to-Cash PS 37.30

So with a P/E of 20 it cant be said to be presently cheap but please bear in mind thats the historic P/E. I feel the forward P/E is in the region of 13/14 based on the figures that it made just over 1 million after tax last year and this year we are looking at massive increases in coking coal prices, new machinery , 3 new mine heads and a quicker route to market, plus a re- evaluation of property assets. I would therefore estimate profit after tax of in the region of 1.5 million which would place it on a p/e of circa 13. Still very cheap and should have a lot further to run.

cheers GF.

been topping up yesterday and today,now in excess off 15000 shares.Target is 500p which should be reached when property portfolio is revalued.

BBJL

When will that be?

MS

DOWN, 'they cannot be serious.

cheers GF.

Well, I took a tiny profit on this the other day & walked away.

I much prefer APF, no property worries there.

GF
You like the property story on BISI, I am a lot more cautious about it.

You are probably right & I am probably wrong so good luck with it.

Might even add in the morning. Still think theres plenty left in it.

cheers GF.

Back up again, usually does well on a friday afternoon for some reason.

cheers GF.

Here's some more bullish comment on the price of coking coal:

07.10.04: shares in BHP Billiton and Rio Tinto were higher in afternoon trade as Dresdner Kleinwort Wasserstein said the two blue chip miners remain its top picks in the UK listed mining sector, dealers said. In an upbeat note on the sector, the German broker said it believes the mining sector offers superior earnings growth compared to the market with EPS forecast risk still on the upside. It added it has raised EPS estimates again, principally for the bulk commodities and oil. It now forecasts a 22% increase in iron ore prices and a 60% rise for coking coal in 2005. The broker said it retained a preference for bulk commodities, particularly iron ore and coking coal exposure as these commodities boast the most attractive medium-term fundamentals, and therefore have a stronger case for a higher multiple of peak cycle earnings in 2005.
(from InvestorEase.)

cheers GF.

A 60% rise in coking coal for 2005, just think how that will effect the bottom line at bisi.

I feel forward P/W is circa of 13, but this could be way to high. Certainly time left to get in this one.

cheers GF.

And its up again.

cheers GF.

certainly one of the cheapest miners around that looks like it could have plenty of upside from 200p level.

I agree big bob and up again today. Still much further to go. Forward P/E only 13. Cheap very cheap.

cheers GF.

Gone even further up.

cheers GF.

gf not wanting to spoil ya fun but no need for day 2 day comment re price movement.Relax this should have no problem doubling in quick time from here and it would still be well under market cap of 50 mill.Just top up on the dips proving very successful.

Yup big bob, but I like to keep it in the spotlight so that potential investors dont miss out.

Its a fact that on BBs like this most people just look at the top half of the page, it was proved on a US site. So not trying to be funny just wish to keep it there in the lime light.

AND DONT FORGET THE FORWARD P/E OF ONLY 13.

cheers GF.

ok will bring to top daily,quite like volatility though but too wide a spread to trade.Some major catchin up to do compared toits foreign peers now as well,big chance of a bid here i do believe.

Keep posting I'm in this one now! Hope it continues up.

Nice to have you on board moneyplus.

cheers GF.

ReaDY TO RESUME UPWARD MOMENTUM.

cheers GF.

wow! a good day today. I wish the spread was tighter. I need to off load some dogs before I can top up.

MS

Up to 220p now lets hope this just goes on and on.

cheers GF.

Cracking on again, certainy established itself over 2 now.

cheers GF.

Are we due some news? It is certainly performing well -any guesses on long term price I want to hold this one. Oct is proving a good month for me BISI, ASC, and NLR all going up just need BRY and CBM to stop creeping and start moving!! I like HMY but no funds, hope to join soon. AFE are moving too--thanks for the updates on these GF you're a star!

expect bigger players are weighing this one up how cheap it is in its sector.

Hi MP, bisi is still way undervalued. Hamworthy yes get in and make it quick.

Lets just say it should have floated at 180p a share.

Its obviously derd cheap.

cheers GF.
NB.its amazing how many posters that think It just comes off the top of my head and say a share is cheap.

Beleive me I go through so many filters and research.

goldfinger
just reviewed all the threads on bisichi, i see you have had a huge imput
as usual, those out there that think you are shooting from the hip should
wake up and smell the coffee.
filters and research are the key to making it work, bisi passed my filter
tests early in sept at 1.58 anyone in around that time is sitting on a nice
profit 50% in 6 weeks not bad.
agree still undervalued be nice to see it break through 2.50 for next
support level.

keep up the good work gf.

regards HUSTLER

Hi Hustler thanks for that.

Just been reading that some of the really big coal miners are now starting to be eyed up by the big Chinese steel makers.

Now if you follow that logic on surely the big coal miners here are eyeing up the little coal miners.

Hope that makes sense.

We could at some stage have a bid coming in.

cheers GF.

bid ????!!!!!!!!!


thats why i hold !!
Won't be long on this lowly rating

Down slightly today but its got to have some down days.

cheers GF.

Mastic Meg time. Where will this be say at the end of Q2/Q3.

MS

Dont have a clue Mickey I leave that to Mastic Meg, LOL.

cheers Gf.

What has happened to this. Down all week.

MS

Gives an excelent opportunity for people to climb aboard and make some real gains. Note the buy volume against the sell volume.< and down 10% what a volatile share, very high beta. Will add at such a low price, foward P/E now only 12 and thats being very conservative.

cheers GF.

Came back towards the endof the day as buyers came in. Its very volatile to any negative gossip on China.

cheers GF.

GF

Any views of the continued move south. I'm well down on this one now.

MS

What TF's goin on?

Is it a round of profit-taking, or an opportunity to top-up?
No RNS about price drop.

26.5p drop on tiny volume. Baffled.

Just got in and seen the price,blimey. Looks like a lot of small caps have dropped down a little today.

Will try and find out if anything specific to this one.

cheers GF.

I swallowed hard when I saw the drop, hope it's just a blip! If the share is undervalued as it seems to be it wont be long before the buyers are back-nothing goes up in a straight line!

No evidence found of any problems. May be a good time for investors to get in on the cheap.

cheers GF.

Any comment on Brady? It seems to have gone to sleep.

A bit like me over the last few days MP, been under the weather with flu.

Anyway this should cheer you up lifted from advfn..................

And as for Stans argument over South Africa please take a look at this refering to Aquarius Platinum, they are in the same boat as Bisi with the price falling today on foolish rumours....................

Proving that troubles (or the perception of troubles) come in pairs, the share price has been further bashed by news (misleading) that Aquarius Platinum South Africa has issued legal proceedings against the South African government prompting the false implication that it needs to protect the company from government expropriation of assets. South Africa is a country where the rule of law is observed as a matter of fact rather than in its breach -unlike Zimbabwe. It seems that this is a tale of prudent lawyers advice being eagerly misunderstood and misrepresented by the media. Aquarius Platinum confirms that there is no appropriation of its assets and none is expected. Consequently, Aquarius has issued no legal proceedings against the South African Government. On a precautionary basis, the Company has merely filed a notice that it would take legal action against any such possibility should it ever occur. Under South African legislation, 31 Oct was the last date for any such filing. So in the spirit is sound corporate governance, Aquarius made the filing as a matter of routine as other companies appear to have done. So, the facts have not changed but only been temporarily obscured by the fog of ill-informed rumour.ENDS.

Its Zimbabwe were the problems are under their dictator and not South Africa.

Hope that now clears things up and the price should rise once again.

cheers GF.

Thanks GF. I hope the lonmin price rises as well. Have you checked out PAY? only floated recently and I intend to get some as soon as funds permit. It looks very promising to me--yet another share the market is totally ignoring-I'd like that to continue for a while yet!! They are beginning to take notice of HMY so I'm glad I took your advice on that one. I'd hope to see PAY at least double.

PAY, will check it out MP, cheers GF.

Well down again on ill informed rumours please see my post above about Aquarius Platinum and South Africa.

Superb Buying opportunity exists now.

cheers GF.

Starting to head north again added at 188p.

cheers GF.

Ill always tick by this one, management now got the P/A side sorted out.....

3rd November 2004

BISICHI MINING APPOINTS NEW BROKERS

Bisichi Mining PLC, the LSE listed mining company, announces that following a
review of its external advisors, it has appointed Evolution Securities as its
new stockbrokers.

Commenting, Andrew Heller, managing director of Bisichi Mining said:

'In the past 18 months there have been some very significant business
developments at Black Wattle Colliery, our South African direct mining
investment, including an export allocation at the Richards Bay Coal Terminal
and the installation of a continuous miner.

With these developments and other opportunities now opening up to us in South
Africa as the result both of the black empowerment status of Black Wattle
Colliery and the strength of our local partners, Endulwini Resources, it was
appropriate that we should appoint a firm of stockbrokers with research and
distribution capability in our sector.'

END

For further information, please call:

Andrew Heller, Bisichi Mining PLC 020 7415 5000

Christopher Joll, mj2 ltd 020 7491 7776

cheers GF.

Got its positive head on again.

cheers GF.

Gone a bit quiet of late but Im still very confident.

cheers GF.

Bombing along, bombing along, what a great little company this one is.

cheers GF.

GF - Managed to pick up a few of these again the other day. Feel happier now with these in my back pocket.

>> GF Just to let you know that STAR is on the move if you had not noticed (Artemis have just piled in).
rgrds
gk

Just seen it Gallick, thanks. Gas storage is going to be big in the next few years. We have a lack of facilities for it, so Star should do very well.

cheers GF.

Usually, days go by with no trading of STAR but that has changed.

As for BISI, I nearly bought back in at the beginning of this month when the intra day price dropped to 160p but by the time I had checked to see if it was justified, the price had recovered.

I still prefer APF but I'm probably wrong.

Bodes well for Bisi and Anglo, from Killik morning notes friday..........

COAL Price rises



It is interesting to note the upgrades coming through for coal based miners on news yesterday that Xstrata had secured a $137 per tonne from a South American steel mill for forward supply. The price rise was significantly above expectations and led to upgrades for Xstrata along with other major producers like BHP Billiton. Patersons, the Australian securities house are upgrading prices from US$82 to US$115.



The sentiment shifted to Western Canadian overnight where they moved to 186p equivalent and Asia Energy has hit 500p.

cheers GF. Could have gotten into Western Canadian at 136p, AGGGGHHHHHHHHHHH.

expect bisi to move sharply up next week,piece in telegraph on news of much higher coking coal prices next year.Bisi is the cheapest of the lot.

Holding firm Big Bob.

cheers GF.

Next Leg Up.

Coal stocks goin mental in Oz,this should be the next hot money sector after the oil bonanza and this ones as cheap as they come in the sector.

they're only letting u have a 1000 but u can sell 5000 !!

Looking good bigbob, just bought a 1000.
Cheers.

Justholding and smiling guys.

cheers GF.

looks like the media have spotted the value, re I.C

where are u all ??? did everybody get bored and sell out ??

up 5% today and a smidge off the breakout.

No still in Big bob. Looking good like you say.

cheers GF.

Bought back in today should not have sold,when will I learn.
Going to hold on for some good news I hope.
Cheers.

poised to break

on a storming breakout now,trying to find a website that will give me coking coal price and futures,any ideas?

The rise continues is something about to break? This is one happy shareholder!

Yup its fantastic, you can just leave it alone and it does the business.

cheers GF.

sold a few yesterday cos its up too quick 4 me,especially as i c involved.

Im still in this and adding. Anyone else?. Reports we are going to have the worst winter for 20 years, that with oil going up and up I can see these really belting upwards.

2 bagger plus now nearlly 3.

cheers Gf.

GF
I'm out. As usuall sold too early. I never get my exit point right. Stll made a few quid so can't complain. Good call GF. You're a better stock picker than all the tipsters put together.

MS

Oh dear, someone killed at the mine so they have closed down the mine for the time being. Also said they may have to raise further funds to extend exploration. A fair drop in the sp.

What you think about the future of bisi, sp quite volatile at the moment??