Bisichi Mining

What do you think?


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


Thanks to Goldfinger for flagging it up.

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.