all i knows, after 870 moralised posts on a single counter, comments on issues of right and wrong from a investor perspective; but as a whole typically I read with an unfounded air of superiority even Company's owner has not posted one here in this forum. Err ... this shall be my 18 posts - here is one which I've wasted w/no substance within as a reply. Full stop.

BAHVEST: just monitor the chart for next three months, it is budding, beginning / showing signs of promise in a particular sphere. Shall go hibernating for few weeks and see how it turns into,, Cheers.

To ALL:- please don’t make fun of others anymore in this board (synonyms & antonyms of any form of disrespectful terms). As I overheard, In terms of stockholding value cum WA, a singular million doesn’t mean anything as one would need approx. 2 million in shareholdings to be included in top 100. Respect cannot be forced. If someone keeps repetition making fun of others, it will be met with collective resistance in a shared public forum.

I would assume most 0098 holders are Chinese, and should exhibits traditional value, culture and practice fine virtues, and you have directly or indirectly made some VITAMIN-M from this investment in the past, present or future, be thankful of it.

BAHVEST: I think, we all may have to wave goodbye to 49.5 sen or below from here on. cheers !.

Bahvest: from a reliable source, missing element in 0098 shall finally be patched, I am topping it up in my investment portfolio. So, I’ve been Q-ing and started buying Bahvest daily for last few weeks. I can sense this stock is running DRY below the 50 sen level, hmm … perhaps this stock is still awaiting for a frustrated someone to dispose 2,18x,xxx shares before it starts to run, hehe

Every shareholder has respective investment objectives, duration & price target(s). I simply like hedge element in gold holdings against crises when investing into share market. When it runs with depreciation of USD and bullish gold after March, 2021, this stock shall still be safe until 2023. Peace!

quitting this B.Oil forum and go hibernating .. won't be able toreply any comment, good luck everyone. CIAO.

+++ AaronTan1987 +++: First, MIND your language when you refer people in open platform. Personally, I always think open forum is the best place to identity stupidity among the crowd where it also help in verifying different grade of character . Secondly, Aaron Tan, think twice when you click in & leave any comment(s), as whatever you said shall leave a digital trace which would directly associate to your credibility in future post(s). I am quite sure you shall be vanishing from this forum for what you have commented when B.OIL was @ 3.5 sen and 1/2 sen, as I have told you “basis” of my guess was Gold related which proved I am right, as there were things you don’t know at all as B.Oil has recruited a top mining engineer from Canadian based Gold mining group, Monument Mining Limited, subsidiary Selinsing Gold Mine, Pahang 7 months ago to conduct gold exploration studies. If not I wouldn't have bought into it.

B.Oil is a share cap. dinosaur, w/share capital at 5.3 billions prior to issuance of another 760 million new placement shares + 745 million ESOS. In my opinion, none other than Gold shall be able to stir interest for public to look at B.Oil because:

ONE Metric Ton of Gold worths @ USD68 million while ONE Metric Ton of Limestone @ USD10~35
Ref: Alibaba on Malaysian limestone, min.5000 metric tons

To me, only idiots would choose to carry on mining limestone or rocky stuffs where B.Oil really did in spending RM37 Million to acquire a quarry @ Lahad Datu. The 37 Million decision reflects current mentality of the Company in relation to gold mining. So, here are some good/bad news to consider for your an investment or your holding decision:

Good news:

1. although the grammage is rather low @ current announced 0.43g/ton (comparing BAHVEST 0098’s 2.47g/ton *) which makes it not so viable for large scale commercial mining production, BUT - based on the report, it only represents 10% of total areas being explored. IF new update(s) suggest content increases on remaining 90% of the unexplored areas, it might affects this conclusion.
2.regardless, the mine can be a) for sale or b) pass the concession to more efficient Chinese miner or appoint them as contractor - either ways, it is income for the Company. 3. general belief the precious metal shall top USD3.000-00** an ounce in coming 15 months on possible devaluation of USD, it can be easy to find a partner or a gold mine purchaser internationally.


* assuming the production/processing capacity is 1000 tons/day or 2000 tons/day; meaning 2.47g shall deliver 2.47 KG / 4.94 KG of Gold a DAY ! ** Note: 1 ounce = 31.5g; yes, 0.43g also means 0.43/0.86 KG/day only.

Bad News:

1. NOT sure if B.Oil owns the concession and how long is permit-to-mine renewal. If it is short-term, no point dumping millions to set up factories and acquire other hardwares on uncertainty.
2. B.Oil currently “seemingly” has NO monies, unless those who has benefited from this round of placements / distribution can aid the mining operation or else, another rights issue or large scale share placements may be possible but this shall catapult share cap of the Company to .....…
3. Err … with previous 2015 shares distribution, I doubt B.Oil dare to test beyond 12~25 Sen territory UNLESS there are other significant hidden corporate weaponry announcement that we are not aware of.

Well, mineralisation requires time (& monies) to calculate probability. I am not greedy, so I opt for latter and has disposed all my 55 million shares/warrants on monday and become a “SowHai“ as aarontan1987 quoted me, haha. Well, the happy SOW-HAI has decided to reward himself tomorrow by driving to Kuchai Lama to order a plate of favourite RM6.50 MENG KEE's CHA SIU WONTON MEE and think of whereabouts is that scum and will he still dare to come back to this forum and read this post for him, hehe ..

Peace.

Firewall9301: I fully agreed with most of your views & understand your anger / frustrations BUT there are two points must be considered.

a. someone already has a hand on the private placement shares which could be amounting to 700+ million as well as ESOS (even at 15% for first year from 700+million is approx 110 million shares (-27m just exercised = approx 95 million ) If you are in the opinion, the Company is not serious to go for mining for good, even for a speculative share play, for the whoever to distribute 800 million shares you need to have a good story line plus a good, fierce run for its share price(s). Your advice is definitely good when it approaches upper price limit but not at this lower end of the price scale; in fact - you should even consider accumulate some mother shares to hit them at high so while you unleash your anger, you make sure they also pay you handsomely while you slap at their faces. hehe..

b. ASSUMING B.OIL uses the glittering previous metal as bridging (I have some basis for this guess, they recently announced acquisition of a newco (but ... seemingly like a waste H20 project management company?), but real run for gold shall begin end of this or most likely, NEXT YEAR. Source of the problems is heavily inflated USD issued during the pandemic, here are some other opinions:

https://www.bloomberg.com/news/articles/2020-07-25/the-message-behind-gold-s-rally-the-world-economy-is-in-trouble

My personal estimation is between USD2800~3180-00; so it almost coincides with Bank of America earlier prediction of USD3000-00

https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

OR a new updated at CNBC last week:-

https://www.cnbc.com/2020/07/28/gold-prices-could-hit-3500-in-two-years-analyst-says.html

CIAO. Please don't reply, Thanks.

I read a lot of anger in the forum. It is a funny B.OIL has implemented another round of ESOS again: as last ESOS, seen “eligible persons” had exercise 747,966,000 ESOS options @9 Sen and presumably they were old as its shares hit beyond 25sen briefly in 2015. Undeniably, “overwhelming response for its 2015 rights issue* has a lot to do with investors’ confidence towards Sabah diversified conglomerate, H.Seng Group during the last corporate exercise. But it h urts many.

* Note: 2.373 billion rights shares at an issue price of RM0.10 per rights share on the basis of 6 rights shares for every 1 existing B.Oil share held, together with up to 1.186 billion free Warrants C on basis of 1Warrant-C for every 2 rights shares subscribed, in total RM231.52 million was raised).

B.Oil share price has been traded for most part of 2019 between 4~5 sen, with year 2020 came down to low of 1 sen on mid-March, 2020 which almost wiping off 90% of its value from the right issue price. The circular I received stating the ESOS shall based on announcement of proposal @ RM0.0221, an average discount of 9.8% (previous ESOS was @9 Sen). So …

a. looks like shareholders who took up the earlier 9 Sen rights issue shall have a tough time recovering from their original 2015 investment as the enormous amount of 15% of total share capital ESOS options @2.2+ Sen ( (approx 765M?) as stated on page 7 Circular to shareholder) shall form a gigantic obstacle / trading barrier to the share price, along with another 745,374,758 new Bornoil Placement Shares @RM0.0221 that follow).

b. I am not sure what did the employees and/or eligible persons has done so far for the Company other than busy selling their 747,966,000 ESOS entitlements during last share run; neither financials of the company has conclusively shown any evidence to suggest they did a fantastic job - esp in handling fund raised during last share issue; so NOW I seriously DON’T see any justification by rewarding them with a second round of ESOS @ 78% discount from shareholders earlier subscription price of 9 Sen.

Note: proceeds raised from Right Issue = RM231.52 million (2015); cash & balances left with Group: (2018) RM16,041,656 from RM42,706,467 (2017) ; Company level: (2018) RM9,894,636 from RM31,199,437(2017) ; 2019: Group RM24,019,161 (improved); Company: RM2,325,844 (worsening). Source: Borneo Oil Berhad 2018 /2019 Annual Reports.

c. the newly proposed private placement in issuance of, in total, approx 745,374,758 + approx 765 million(?) new ESOS shares (approx 765M?). Looks like this is the ONLY GOOD news as there are enough CHEAP shares for a share run. BUT if SOLEY based on existing business of selling limestones, bread and buns and lacklustre performance of its much hyped gold mining business promoted during last rights issue, it can be real tough for existing investors to hope for real income to expect its business recovery.

Personally, I still like the gold mining B.Oil originally engaged back in 2015 but the Company lacked direct involvement in its earlier investment. Say, IF they have learnt from mistakes, begin owning a gold mining concession or has a mid-to long term mining leased / licencing, that may turn around investors’ perception for the stock based on prevailing precious metal price trend.

B.Oil share capital is SO HUGE (5.36B ?) and based on disappointing ways the Company was managed for last 5 years; so unless there is injection of really good existing business from HSCB or alternate good investment such as serious GOLD exploration (MUST come with MEANINGFUL SIZE of independent JORC certified minerals ore reserves) can only possibly see everyone has a chance to recover their investment. To me, limestone is also a kind of mining, only capital investment, knowhow, capability and a little luck separate between gold & the rock.

Well, there are many other precious rare earth minerals on earth, may be they can find other options, but IF the Company is solely based on selling Buns & limestones, you can literally announce THIS STOCK IS DEAD and remain its “PARIAH” status forever. However, as my entry cost is lower than both ESOS & Private Placement price, it’s still quite safe; so I shall still hold my faith for a year to access what can they do with things they didn’t do all these while.

Good luck & I go hibernating now Bye.

https://www.freemalaysiatoday.com/category/nation/2019/07/18/malaysias-rm700-billion-trove-of-mineral-wealth/

Interesting data relating to Malaysia’s mineral reserves:


Tin 1.3 million tonnes @USD17,000-00/tonne / RM72,000-00/tonne
Bauxite 169.8 million tonnes @USD30 (RM128)/tonne
Copper: 5.85 million tonnes @USD5,646.00/M.ton USD4.86/Kg / RM24,000-00/tonne
Gold: 115 million tonnes @USD1700.00/oz / RM236,000/Kg / RM236/g ; Note: 1 oz=31.5g
Iron ore: 498.6 million tonnes @USD103.00/M.ton / RM440-00/tonne
Nickel 75 million tonnes; @USD12,503.00/M.ton / RM53,000-00/tonne
Manganese, 5.7 million tonnes @USD280.00/M.ton / RM1200-00/tonne

Err … *limestone: approx USD35**/RM150-00/tonne 


* Borneo Oil & Gas Corp Sdn Bhd acquired a 5.38ha quarry in Lahad Datu, Sabah, for RM47mil last year ..Monday, 20 Jan 2020 the Star newspaper”Borneo Oil Bhd has been engaged as the main limestone aggregates supplier to an integrated limestone processing plant..”  ** High quality Crushed limestone aggregate from Malaysia US$10.00 - US$20.00 / Ton | 5000 Ton/Tons (Min. Order) ~ Source: Alibaba.com

The proceeds of RM47 Million raised from proposed placement ..I am not entirely sure prices of limestone / granite in Sabah but presume it should be around the price of Bauxite. But Sabah, or for that matter Peninsular Malaysia still has many mineral resources that justifies for explorations/mineralisation. Say, dollar to dollar - I would rather spend same amount of time/effort/ monies to exploit potentialities in finding 1g of Au which may worth RM240-00/g, i.e. roughly equivalent to 2 metric tonnes (2,000,000g) of limestone.

Further, amid the chaotic state of excessive issuance of USD during the pandemic crises, I am equally certain gold may have greater potential to go higher but I have reservation over limestone prices can be comparable in its mid/long term outlook:

a. https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold
b. https://www.youtube.com/watch?v=pOpcu3ZZNPw
c. https://www.youtube.com/watch?v=wRksWPQRcq0

Conclusion: you may ignore what I said, as I have a strong sense the Company may also has something under their sleeves by witnessing its recent oscillating movement of trading volumes/prices. So, I have accumulated some, both mother & warrants hehe ....

Musang: B.Oil was a Rights Issue. The nature is quite different. Anyway, looks like 0098 is settling down N reflects actual volume and should find its footings given natural buying and selling where 100-150K+ daily should read as "natural". Personally, I read it as okay from here. The previous two trading sessions prior to Friday saw a gentleman finally willing to cut lost with his ever rolling positions (few hundred K) for last few weeks, finally cleared his position on Wednesday & Thursday (since RM1.1x N looked like he had to sell more to offset the contra lost as evidenced dragging to T4 but had given the stock unnecessary pressure via his doing). I got probably 1/3 and looked like a few equally patience co-investors took the rest. I just don't understand why still has public engaging contra without a margin/cash standby to park in case something market not going its way. funny and equally feel sorry for it ...

As I said, if you lost patience and hitching a hike untimely, others would take your stock away, as we don't know each other hence it is a fair game, I guess.

Think matters on bright side, bro. Good Night.

Musang:

HUH ? waiting for me ? for what ? Believe it or not (up to you) I am buying daily (only when it trades red) discipline and patience, pyramid system i.e. price lower, collect higher the number.

When stock is low, it affects one's confidence, sentiment and judgement, that is okay, understandable) but I know what I am buying for and certainly not looking for 20, 30, 50 Sen gain. As I said, I am accumulating for mid/long term investment at the start of the 33+ years concession for me and for kids, Errrr ... 2048 is a long time ahead, (hehe ... long dead by then, but I am quite confident I shall see good yield not too long from here) .

Relax.

Good Night, CIAO.

Errrr.... Some personal view: 1) T.Haji looked more like booked their profit on 0098 at end of last year, seemingly had warehoused somewhere, reclaimed their 9.x% shareholding, so signal is GOOD as they are firmly holding on to it. Funny thing is: slightest negative news frequently had been picked up and reported on 0098 but hardly rectified its development after that, so to me, .... it means 2) 0098 is a stock where EVERY WATCHFUL EYE in the market KNOWS it is going to RUN, but just can't anticipating its timing, that is all. My clue: If you have a little corporate knowledge, and are smart enough, you should know when the timing is. (errr ... the announcement was a few weeks ago, so in days (or weeks) to come, simply wait for the circular begins to mail to shareholders first as the deal stills require a certified marriage between the two).

While I was away, I do encouraged many of my friends consider starts accumulating it when market is weak. Simply on the basis 1) 0098@RM1-00 compares bank interest, it only requires only up 3 sen would then equal interest gain for entire year compares to depositing at the bank; bank is okay but sees no broad horizon beyond the 3.x% interest; 2) @RM1-00 level, it is very close to the generous dato who had his shares issued @.9x sen for his stake from SE Gold into 0098, at this level, it certainly looks like a good bargain, and it is very safe being close to his cost. hehe ..

Lastly, 3) it is more IMPORTANT for investors to consider this: It is wiser to begin investing into potentially a huge gold mine w/theoretical Billions of USD of ore reserve at the START of the 33+ years (its mining rights w/land title operates thru to year 2048) RATHER THAN disposing it at the first one month after announcement, as it defies basic principle of investment ..so AS LONG AS YOU KNOW WHAT IS THE REAL "SUBSTANCE" will be merged into 0098, shouldn't let FEAR factor caused by weak market sentiment to affect an investment decision. If fears prevails, others will take your stock away. It is a fair game (as I notice most people still often got trapped in the wrong game of buy high sells low, so funny).

But here is also something for you to think about and should seek answer for yourself:-

Say, assuming the day finally is here, would you disposed 0098 at the first 6 months when its stock price eventually starts to catapult ?.. and let the remaining 33 years' revenue be someone else' possession ? (usually majority of small stockholders' equity would end-up in the hands of investment funds, AFTER they realising its true value in months or years to come).

So, where can you find such equivalent goodie find from Bursa lately ?
Like many, I do have a target in length of time N price target too but prefer to keep it private.

Good Night.

1) Westhouse Securities, UK once had presented their view: “new gold ounce discoveries slipped by 30% from the previous 15 years. Each new troy ounce discovered also cost 2.6 times as much to locate, too. And large deposits - judged at 2.5 million ounces or more - have simply been too few in the world;…”  


2. Zijin Mining Group, owner of China's biggest gold mine. Ren Guangzhi, their investment manager had also once quoted  “It's urgent for Chinese companies to explore/develop gold mines overseas. Unless new deposits are found and developed soon, he believes China's reserves - including gold-only mines now producing approx 400 tonnes per year - could run out within six years. ref: Gold Bullion Vault.

So, in weeks, or month(s) to come, we should patiently wait for 0098’s subsequent Aussie certified JORC reports on its gold, silver & copper content OUTSIDE the measured boundaries of 69 acres/785 acres (offered from SSGold’s large reserves of 2,471 acres), simply to verify if 0098 has actually strike a potentially world-class precious metal-based ore reserve at that defined zone.

…….. it is a little late now, I shall see if I can spare time while on vacation, share more info on this topic.

Good NIGHT.

I am planning for my year end holidays. A friend whom I suggested to invest into 0098 asked why am I so confident with the stock. Let me put in this way, after witnessing 10~11th December in two aggressive profit taking trading days, the counter had experienced B2 bomber-type of bombardment with at least 4 millions shares hammering out, but market had absorbed them all and has no panic created wahtsoever, so you know the counter is gonna be okay. Before I leave for vacation, I can share some of my personal view with fellow investors here in the forum and see if they are useful:-

Part I

Firstly, please understand by 2013 there were approx 17 gold mines are/were operating in Malaysia; virtually all were located within the West Malaysia’s Central Gold Belt, i.e.  the States of Kelantan, Pahang, and Terengganu where it hosts the majority of Malaysia’s gold occurrences.

The Malaysian gold belt, covers some of Raub, Selinsing and Penjom active gold mines in Pahang as well as the Sokor Block in the State of Kelantan.  From what I understand, there are two foreign listed Companies Avocet Mining PLC UK (Penjom Mine) and Monument Mining Limited (Selinsing Mine) actively mined in Pahang, while Singaporean controlled CMNM Mining Group, operates a start-up smaller scale mine at Sokor Block, Kelantan, is currently listed on the Cabalist Board of the Singapore Exchange Securities Trading Limited “SGX-ST”. Another PLC was Peninsula Gold (LON/AIM-PGLAIM Market, London) but it had seek for delisting* in 2015. The rest are privately held, probable a few have local governmental participating in equity. 

Note * Make not mistake: Despite the relatively small 200 acres at Tersang, Raub mine concession, Peninsula Gold did generated good revenue from its early listing years until it got delisted the year; for an instance, back in 2009 PGL has reported average revenue of GBP10.0 million per annum. Source: annual report of LON/AIM-PGL, 07, 08, 09; Their last annual report in 2014, it has produced 20,948 ounces of gold (£16.45m revenue for the Group (2013: £22.83m) .

+++ Why it can’t control the cost,, it was not known +++ . Good news from the readings, a typical gold miner operates in low-costing Malaysia usually generates good, very GOOD revenue. hehe .. an assumption would be, i.e. after 1.5+ decade of mining, their 200 acres mine concession is either at beginning of an end of its cycle or, could be too costly to go digging further into the deep as Tersang gold deposit “… consists of a quartz veins stock work enclosed in two kilometers elongated acidic (felsites) dyke. It hosts combined inferred and indicated gold resources of 120,000 ounces… “ . So, it may be more suitable held as private ownership rather than continues as entity of PLC today.

Another interesting element is:  Except for Sokor block, formation of the Malaysia’s Central Gold Belt in specific areas has commercially viable gold content to support mining investment, but most area has no other supplementary minerals such as Copper, Silver, etc (or secondary ore reserves good enough for commercial mineral separation/mining). Most of the gold found, some refer it as either Alluvial Gold (Deposited by water movement) and Eluvial gold (disintegration of rock at the site where it originates - not through water movement). Thus, it differs from 0098’s epithermal gold-type of deposit, where originated from Volcanic activities occurred millions of years ago.

Next, among the few identified zones mentioned, the Raub region (in particularly deserves a mention in this post, as it can be considered as Malaysia’s most historic gold mining area), where between 1889 and 2004 had produced over 1 million oz * (* Ref: Moore Stephens, Corporate Finance Report, UK. ) mostly from underground mining operations. Further, according to references from US Geological Mineral Survey Year Book published from early ’90 onwards, it had outlined Malaysian gold mining operations mainly centered in the State of Pahang (Lipis (1995 edition), Raub (Bukit Koman Mine) 1997, Sungai Koyan Mines (1996/7 edition) , Penjom Gold mine, Ampang Jaleh Zone by Avocet/ Pahang SEDC (1998 edition).

I was told by a respectable Geologist who shared this privately: “… your country is truly blessed with rich resources. Historical data indicates there are two known places could carry potentially more than 2.5 million ounces of gold…”. (sorry, can’t share this info here, BUT early positive data/signals may suggest the new found ore reserves at Bukit Mantri / Wullesdoft could potentially, supersede all) but why is it significant ?

King Musang > "OPEC just announced bad news last night, NO Oil production cut... So better focus on GOLD now.. Oil stocks are suck big time! "

Alamak, sorry what I wrote has caused so much differing thought, but I am okay. King M, things don't simply work this way on commodities. Everything in the market has periodical cycles. Gold price shall drop gradually on "human-engineering works" manage, at times by wealth of Nations to achieve certain tactical objective. But personally, for 0098, it may be regarded as GOOD news due to timely retracement (note: a retracement of certain x/xx% does not signify a change in the larger trend and/or shaking an important stabilising element within entire financial market in the long run). Let me first see what I wish 0098 is to be before I decide to explain more on this issue.

Am I still welcome to present some personal view here ? I can quit here anytime, no problem.

My suggestion:

In the corporate world, deals hugely benefiting minority stakeholders may exist, but rare (calculating on 9.1% with such rich certified tonnage of minerals content mentioned (4/T GOLD, 14/T SILVER & 4,000/T COPPER) and exchange only for 100+m shares @.94, with the extra benefit for 0098 stakeholders sharing further possible 9X wealth and/or opportunities that could be hidden beneath the remaining 90.9% unexplored concession.

Thus, In many ways, I would consider the proposal to 0098 as quite generous, probably the owner is a common shareholder for both Companies, who acts both as offerer and taker. So, a small thank you.

The good old T+7 contra-days were long gone, forget about contra with 0098. Be patience, invest and hold. Sufficient facts already suggest, it shall be a good bet.

Have a good weekend. CIAO.

Fuzzy Logic in my dish of Nasi Lemak:

A) First, opens the Chart (from TradeSignum link):
http://www.interachart.com/#bursa/bahvest

Probably, an interesting point for 0098 enthusiastic investors to try take note is, on April 25 CI hits 1855, few months later CI experienced a disastrous massive 350 points drop to 1503 (August, 2015), yet surprisingly 0098 hold incredibly steady, dropping approx 4 Sen amidst the big market correction. Based on a 430m shares capital, it should inspire you to think deeper into this on its strength to hold, meaning, (frankly) now that it has jet off you can forget about re-collecting it back below RM1.00 kind of scenario.

So, the day after the announcement, it did hit 1.31 momentarily and subsided. Simple calculation, 0098 went up from RM0.85 to RM1.30, gaining 45 Sen (52%) , It hangs on traded around RM1.2X, so it still provides 35 Sen (41%) . To me, I read it as a touching distance away from its all time high while digesting profit taking from satisfying short term investors and/or speculators. After the 52% gain, it can take a short pause too, right ? The chart tells the story, it still looks incredibly GOOD.

Next good thing deserves some smart thinking: Other than announcement date we witnessed on volume of 9.8M shares traded. Since then, it cooled down to approx between 1.x to 3 millions shares traded daily. Unlike a comparing Company, X.Oil which also announced into mining not too long ago*, last few trading days, I notice its volume had reached to an astonishing 100-130 millions shares DAILY, but sadly ….. price remains unchanged @0.16 sen. If, trade volume is an indicator, 0098 would make you sleep better at night, huh ?

* a quick scan on contents from rights issues circular downloaded from Bursa, (if I am not wrongly interpreting it) X.Oil looks more like a contractor rather than tabbing direct into equity ownership of the mine/concession, this is a big difference from 0098, who owns the leased land with certified mineral content for mining until 2048 and, can actually appoints their own contractors. hehe ..

B) I share the view of a frustrating fellow forum participant who questioned “why newspapers had no mention of the content of the Minerals stated in the announcement..” as well as “ huh ? serious-AH …got gold or not ? ..blah blah blah.

Initially, I was equally puzzled why lack of simple analysis when reporting on 0098 announcement by the media. But after a few thought, the safe approach adopted in their reporting was right where in the sense, lack of appropriate knowledge in mining business, hence each opt to avoid giving misleading information to public on matters they are not good at. If you disagree with my view, says … can anyone quote me a respectable LOCAL icon or names in the Geological engineering field and/or qualified Mining Engineers who can certify real content beneath those rich soils of our homeland? I am sure Our Country do have such creditable professionals somewhere BUT I am definitely sure NONE are not working in the media business, busy writing about minerals while the Bursa has no mining stock. haha

So, understandably, the Cu, Ag, Au..+ JORC Code are aliens to many. But I have to provide an addon to my earlier posts: JORC, SAMREC and CIM-Standard Report on Ore Reserve are recognised/accepted by major Bourses in the financial circle worldwide. i.e. The US, Montréal Exchange (Canada), London Stock Exchange, ASX (Australia), HKEX (H.Kong), SGX (Singapore) etc. * For an example, Chinese mega mineral operator, Zijin Minerals, PRC (stock code 2899) when attempted to seek a listing in HK, they were first asked by HKEX to be JORC-compliance before being granted a listing in Hong Kong.

So, please don’t throw further funny questions again in the forum such as “ada gold-Ah ? sure or not ?” …. ok ?

Further, It reminds me on an un-confirmed story I heard how Monument Mining Limited, a giant Canadian mining and exploration company got hold of their existing gold mine operation in the State of Pahang, approx. 14 years ago, I was told the concession owner had been seeking an adventurous investor on the gold venture for the initial first few years but no locals seemed to have a Titanium Balls (or rather no one would believe Malaysia has potential commercially-viable Gold mine). Monument eventually came and sealed the deal with a cheap USD1 Million offer. They bag home with billions RM worths of Gold over the decade and a half. @$%&@*$%@!!~~!!

* Note: Monument still operates it, you can acquire the data from The US Geological Mineral Survey Year Book on their current production / output.

Just like oil & gas, Companies first confirm oil & gas fields via exploration and get it certified by respectable, Internationally recognized engineering / consulting group on its estimate of reserve before things can be moved from there. So, I guess 0098 has taken the right move as it is still a Mesdeq stock.

Other inputs: Recently, I had joint a Canadian Gold Miners Forum where a seasoned miners shares his wisdom “..gold deposits w/less quality closer to surface is always more valuable than quality deposits that roots deep within thousand of metres” …next, "country and locations greatly affects costing and/or profit as Gold ONLY trades in USD internationally, a mine in Papua New Guinea may boosts a 50% jump in profit than an equivalent mine operating in Canada (cost in labour, duties and weaker local currencies to USD) .. ” Errr … it reminds me on of RM4.3x but for 0098, I guess it is beneficial as it exports, returns with USD.

Last, first day trading resumes after announcement but it cools after initial spike, can it still worthy as a buy or should sell ? Errr… I guess don’t have to. Why ? Try looking from another perspective. If we calculates the published JORC certified Ore reserves of 4.6 metric ton Gold, 4,000 metric tons of Copper and 14 Metric tons of Silver, it gives roughly RM1b ore value, minus discount factor on cost etc 30%, 40%…or 50% ? says, 50% divided by enlarged paid up 5xxM, PE10 is still around RM1-00.

UNLESS, one assumes one yard out of the allocated land to 0098 of 69 acres (28 hectares) out of 785 acres (317 hectares) all the minerals have suddenly mysteriously disappears kind of scenario, .. BUT what happens out of that one yard, it has ? haha .. thus if we use applification method: 9.1% =4.6 (4.6 divided by 9.1 x 100 = roughly interpolating the remaining unexplored land to 0098 to be 50.4 metric tons Gold; Copper=43,956 metric tons, 153 metric tons of Silver and then gives a discount factor. How much does that worths ? Frankly, I wouldn’t care that first when the price is at RM1.10. Night night CIAO

Alamak ! Firstly, I am not sure why a short personal comment posted somewhere had been replicated here BUT it is OKAY.

Food for thought : I dislike the Limit-up scenario as you can’t expect future PE to be materialised during early cycle which is more of speculative rather than an investment. My personal theory interprets speculation = %, investment, usually calculates in “folds” over a lengthy time period. Investing also should ensure us can sleep better at night without even worrying and checking the prices everyday.

1. The most IMPORTANT aspect to consider in 0098: Despite all the rich historical data suggesting; Q; does Bukit Mantri / Wullesdoft really has gold & other mineral deposits? I guess, the JORC report can be single-out as most important element mentioned in the announcement. Note: It says, original copy is opened for public to access via 0098’s Company Secretary Office at Kelana Jaya.

a. Independent Foreign confirmation: “What is the JORC Code? The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves. The JORC Committee was established in 1971 and is sponsored by the Australian mining industry and its professional organisations.

The Committee comprises representatives of each of the three parent bodies: The Minerals Council of Australia (MCA), The Australasian Institute of Mining and Metallurgy (The AusIMM), and the Australian Institute of Geoscientists (AIG); as well as representatives of the Australian Securities Exchange (ASX), the Financial Services Institute of Australasia (FinSIA) and the accounting profession. ~ ref: http://www.JORC.org

b. Histoical/Local report: The New Strait Times, Feb 13, 1992 confirming the exploration and survey was did carried under the National-grade Fifth Malaysia Development Plan. https://news.google.com/newspapers?nid=1309&dat=19920213&id=KrBUAAAAIBAJ&sjid=NJADAAAAIBAJ&pg=6751,568661&hl=en

Other supplementary reports: EIA reports for public on proposed Gold Mine operations to South Sea Gold at Gunung Wullesdoft via Sabah government Official website and other possible archives.

3. Opens up Google Map, key in Bukit Mantri or, more specifically, Gunung/Mount Maria. Looks for the extinct Volcano which sits besides few KM away from Gunung Wullesdoft/Mantri. You can even find the Crater of the Volcano. This tells a few things: a) Epithermal Gold should carries not just Gold, but other minerals such as Copper, Silver, Quartz and others; b. very suitable for open pit mining as it closer to surface which is more economical to mine and provides cash flow first before deeper deposits operations to be carried out later.

4. Meaning: Safely to conclude, Bukit Mantri definitely has minerals.