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.

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.