EPS is rm0.0003 for the QR. not rm0.03 as some assumed ya. Without the disposable asset, meaning they still making losses from daily operation. Good news is that dine in start to be allowed. Good got F&B as I saw people swamp to shopping complex and restaurants. But there is always a big risk to open the economy when the covid cases still @ 20k. It would mean chances of covid 19 cases rising would be high. Also anyone can update on their gold mine?

Well. All the counter needs now would be a higher gold price and also reports on their on going mining activities. It's has been 5 months. Yeah the have budgeted 10m for the project. So what is the progress? Have they found anything yet? For gold price, I'm optimistic that it will soon trending much higher. Found the support @usd1800. All eyes on tonight employment data. But still that is only short term. Long term wise, covid is raging around the world again. And this would kill the economy just like Malaysia. This wave caught me by surprised by how infectious this time. Be prepared for the worse as we get closer to winter in US and Europe.

@Valgorvest, the price has dropped from 3.5-4sen to now 2.5-3sen. that is like 30% gone. Agree, let's wait for the next quarterly report. If there is no update, then something fishy about them.

@valgrovest, yes net cash. They also a lost making company. Need to pay directors fee every year. F&B surely burning cash now. And share buyback. All would mean money.
@UncleFollower. Covid what la. Today 20k. More shops allow to operate. Not to mention factories. Mining has been allowed too. So question is why no update? They are leasing the land. Which mean, they would have to pay a fee regardless whether they are operating or not. Agreement signed in March? That would have been 5 months with no progress? Look,. I just wish someone who knows any information on the mining side, please share. Atleast we know the company is really trying to grow after raising so much capital. So anyone got any info?

After so long, still no news on their mining gold activities? For those cheering for share buyback, that would eat up their cash on hand. So what are they doing? They have issued massive 7.8B shares, raised the cash. And now share buyback without any update on their mining sites? It's like they have given up their projects and focus on buy back shares @ low price, then issue more shares @ higher price later on.

Gold price moving to the right direction despite stalled for the last few days. Sustained above USD 1800. It's going to be crucial for gold to go above USD 1850 to begin a new rally. For bornoil, 1.2B subscription by Macquire would raised about rm36m if averaging 3 Sen per share. Minus off share buy back at higher price, minus off operating losses, how much left? Starting a mining would required massive start up cost. Machinery would cost a few million atleast. And machinery value depreciate fast. Share buy back is a good sign. Only if the company stop issuing new shares, and start showing profitable business model. Can anyone tell me what's going on with the new mining side? Are they operational yet?

Problem is with the massive share issued. 7.5B. they continue to put shares into treasury, but then they issued more shares. Mining stocks around the world already gained a lot since the covid. Bornoil still in the "making". Question would be whether gold price will continue to rise or correction is ahead? With so much uncertainty, I feel gold would on the uptrend till year end. Sabasco sauce, probably not something we would see massive demand or revenue. Their fast food, with on going MCO, it's burning cash rather than revenue. When they announced their 1st gold discovery from their new lease land, then it will move the share. When would that be? Nobody knows.

Bornoil is burning money at this rate. F&B likely incurred heavy losses due to MCO and likely will be extended. Mines standstill, still got to pay wages and leases. Heavy machinery continue to depreciate. Gold price still considerably high, but not high enough to push the stock. Macquire Bank continue investint mining companies in anticipation of gold, silver, ore what ever precious metals, will shoot up in near future. US just approved massive infrastructure stimulus package. Meaning demand more metals would be high. Price would shoot up high due to shortage. People more reluctant to work now causing massive shortage. So inflation would be here to stay.

Rising interest rate in 2023 in be exact. Still gold dropped like nobody business. Like all commodities, all previous metals, all in bearish. Is this the correction we seen in 2011? Exactly 10 years? After economy is on the road to recovery?

So question would be, are we really in recovery? Is this the same financial crisis that hit in 2008? Inflation is high. But with commodities price dropping, would that help? Chip shortage, probably takes another half a year to back to normal. Sea freight, with more countries reopening, more shipment needed, creating larger bottle neck.

It can goes either way for normal. My bet always on economy recovery to be slow and hitting roadblocks a few times along the way. And we haven't really seen the correction in stock market yet.

So bursa not going to do anything? This is crazy. 8 Sen to rm5+. . and now, falling like nobody biz.. similar to what happened in 1998 where many shares goreng till RM10+ then go burst. This is God damn company.

Despite falling from the high USD2150, gold still up from usd1400 pre-pandemic. And despite all the market slow down, MCO 1.0 2.0 3.0, people is buying more gold. When people can't spend on travel, they have money to invest. Buying physical gold probably the more preferable ways for the old timers to invest. They don't trust bitcoin or share market. They want to see the actual thing.

Gold party over? A steep fall overnight. Quickly hitting the usd1810 support. Bad news? Yes for sure. but look in a positive way, currently the market already priced in probably the biggest concern for gold investor, the possibility of US raising interest rate. Despite this, gold still holding above the usd1800. That would likely see see some bargain hunting. Economy data would be the next mover for gold price. Ofcourse the Basel lll would be in focus as well. It's sad day but not the end of gold. Will it go lower? Maybe yes, depending on economic data. In long term, still bullish on gold though. Just monitor for the next 2 weeks. Anything below usd1780 might signal to sell.

Pahang mining got into headline. Surely iother part of mining in Pahang will be attracting attention too. When things clarified, the share will bounce back like now.

Gold price, despite some surprised retail data from US, it failed to go up again. That is a major concern as it's running out of reason to go up. UK reported higher inflation rate again, and likely will spread to all parts of the world. If inflation would drive gold price up, then we should keep faith in gold. But if inflation unable to drive up the gold, there would a sign of a correction ahead. Next 2 weeks would be crucial for gold. Either it breaks the 1850 support to go towards usd1810 support, or it bounce back to usd 1900. FOMC unlikely to raise rate today.. their comment would important in the case they hint of raising rate in near future. If they never mention and remain committed to keep rates till end of 2021, gold would get boost. In any case, gold is trending lower. I still keeping faith with gold, mainly due to inflation

Bornoil affected by news that mining at tasik Chini being ordered to stop. It will not stop forever. Government would need business to run again to gain money.

Well.. for bornoil I guess it's good to get it 0.03 to 0.035. if you confident gold would go up USD2000 to 2500 , then you should grab. If you feel gold going to fall, then any gold stock would be a nono

With more economic data due, there could be few surprises in for US. Expect gold to trend higher ahead FOMC. And hopefully will start bullish trend again.

When inflation and ECB failed to drive the price up to usd1920, this is bound to happen. The price hit USD 1850. That is the strong support. As long as gold above that, there would be a good chance we see price going up back USD1900 very soon, and then hit new high USD 1920-1950. Will some luck USD2000.
Inflation already happening. It's happening big time in whole world. Moreover I won't surprised if Europe went into another lockdown soon due to the euro 2020. Again, I won't be surprised to see gold hit usd2500 by year end if new covid variant start to hit US and Europe due to the cold weather. At the rate of vaccination, it looks like to reach immunity herd seems like a big task for whole world. People would slacked off after taking 1st 2 jab. Pharmacy looking to profit big time. Countries would be hit with massive budget just to get vaccine. The worse might yet to come.

Good thing about bornoil, gold falls, it doesn't affect it's share price too. Gold going for 1850 support. Anything below, we will see a massive buying support. As of now, gold price would remain subdued until we have the actual economy status. Inflation probably supporting the price now. Currently Europe and America reopening, is reporting good figure of recovery. After such a long lockdown, economy tends to bounce back bigger. Once everything cool down, we would likely know the exact health of the world economy. Do note that time is running out for vaccination around the world too. When comes winter, covid would raged again, and we would be back with more lockdown for those had received jab earlier, would required the 3rd jab as booster. That would tough to achieve if everyone still sceptical in getting the jab..luckily Malaysians are more willing to accept the jab now. But not in other countries though.

Sadly, high inflation rate failed to sustain gold price at usd1900. Chart wise still bullish. But sentiment looking bearish. Probably looking at usd1850 range soon if no good news to sustain the gold price.

Again, 8B shares. It's like moving a big elephant. Not easy. But not impossible. If gold really could reach usd2000, surely there would be movement. Another way, Macquaire start to acquire shares from open market too. That may trigger interest in the share

Ofcourse all eyes on local news for the MCO extension. Any extension would be bad for all companies.

Gold turned from bearish to bull yesterday. Likely we will see this trend for next a month or so. But the rally in gold still not strong enough.

2 key things that would drive gold towards usd2000
1) Biden gets approval for usd6 trillion stimulus package
2) FOMC decision on interest rate for the rest of 2021.

There shouldn't be any raise interest rate from US in next FOMC. But any hints from FOMC on prospect of rising the rate in near future, would turn gold to bearish. For now, gold likely would go towards USD 1910-1920 ahead of FOMC.

https://www.thestar.com.my/aseanplus/aseanplus-news/2021/06/09/china039s-factory-prices-soar-in-may-but-consumers-avoid-cost-surge

Hyper inflation ady hitting the world?

Expect firework this coming Thursday night. US will report rising inflation.

1) shipment fee at all time high. About 400%. Meaning all import goods would have price hike
2) chip prices have increased . 10-30%
3) chip shortage and higher material causing hike in car price and other electronics
4) timber already up 400% in 2021
5) oil price just hit all time high for the past 1 year.
6) rising food prices (all ingredients already hit the high in May).
7) ofcourse all metal prices also up massively in 2021.

And ofcourse, if Fed decided not to rise interest rate, we will see gold hit usd2k.

Macquarie isn't collecting from open market. If they have, you probably see the share price up by now. Why they subscribed bornoil newly issued shares? Probably due to the Bornoil plan to purchase the company with mining license. Instead of giving loan to the company, Macquaire invested into company. Reasonable. So now the company has the mining land and resources. It's about getting the gold now. Still, they got to find substantial gold to justify all expenditure cost too. As of now, it's just guessing how well they would do from the gold land.

Gold price beginning to ignore US economic data and focus on inflation, and interest rate this coming week.

Why you guys so concerned about the substantial shareholder? Macquaire bank news already in for sometime. It's just a matter of time. Bank don't invest just to earn 0.005 Sen. It just a waste of time. And the shares that they holding is just way too much to offload in open market. Gold price would be the driver for this company. The quicker they share their 1st bucket of gold, the faster the share price would move. Remember, even if they found gold, and the gold is not substantial, it will not help. People is seeking for lots of gold holding.

It did hit 9 sen last year though. That would be double the current price. Still it's all depends on gold price n how much gold they can get from their new mining location. As of now nothing.

Gold correction done. Expect Gold and all metals will continue to surge in coming weeks.

For bornoil, 8B shares issued for a loss making company with revenue less than rm100m a year. At 4sen, it value the company at RM320m. That is on par with Poh Kong and more than Tomei. With Poh Kong and Tomei already holding lots of gold, Bornoil has not even started digging. They unlikely got the approval to operate in this MCO too. As of now, it would take a big rally in gold to get them moving.

For those looking to invest in gold, time to prepare to invest. There might be further downside due to the massive rebound in economy after long lockdown. But gold will bounce back bigger.

A deeper correction for gold needed before going higher.

Gold might pull back before going towards usd2000.

Magic show begins with gold. An healthy correction on gold price due to encouraging economic data. But today headlines all about rising cost and inflation.

A data showing high inflation or a weak economy data, would push gold to usd1950-1960. Before a pull back for good. Then all the way usd2000. Got to be patient. Not a time to play contra. Buy and keep

Tonight shd trade above USD 1910 -1920. Whether this week can reach usd2000. Depending on the data. So far the economic data has been ok. Showing recovery. But also showing worrying sign of inflation. The shortages of many things, the rising material cost, will create hyper inflation. Ofcourse crypto also. A big bubble looking to burst in cryto.

Lockdown. Affecting their F&B. I don't see that mining activities been allowed also. So that is bad for bornoil.

40m is nothing if they going to throw away every Quarter.

Hahaha. Nothing going to fly now. Tonight either fly you to the moon or fly you to Holland. Gold waiting for fresh news.
Bornoil, will need massive news to start moving. MCO in Sarawak, just doesn't do them any good

Gold dropped mainly due to denial of hyper inflation. House prices in Europe and America is surging due to shortage. Creating massive inflation.

No US economic data today. So will not up to usd2000. Inflation already started since last year. The 1st costing to be affected is the world logistics. The rest just follow. Somehow, the world still in denial in hope to protect the stock market. Shortage of chips would caused massive inflation in near term.

Gold will likely fall below usd1900 before up to usd1920. USD 2000 by this week a possibility. Depending on US economic data.

Quarterly report anytime soon btw now till month end. If this share going to move, it will depends on their quarterly report or they have some development news on their gold mines. Gold will go past USD1900 probably by tonight. But without real evidence that they found gold in their new mines, it would be useless.

Whistleblower, the 1.2b already allocated to Macquaire. So there is no additional. As of now, there would be 7.3B shares issued. So don't get too excited. There is no report that the bank bought at 0.034 and and sold at 0.04.

Mzm2511.. yeah. So when they start getting the gold? As of now, the investors stilli not seeing any sight of the gold. If they started the mining and getting gold, you will see the share price move. As of now no. Again don't get too excited

Gold shall take a breather for now. Waiting next US data. If it shows US economy continue to expand, then gold would be under pressure.

Bornoil, needs a massive boost news. Either gold hit usd1900 or they need to start digging gold! MCO in EM should hit their F&B business again. So they better start digging the gold up soon.

Again. For those with holding power, may hold till next quarterly report and hope they have lots of gold in inventory. That would be near end of the month. Or gold got to go USD1900 to see movement in the shares. When they move, don't expect limit up ya. That would value the company at rm2B. That would be impossible. Probably see a movement of 1 to 2sens. Be realistic. 7B shares for a company with less than rm100m revenue a year.

Gold price must go up more drastically before we see movement in this counter. It's all about patient. more than 7B shares issued, and revenue fall to less than 100m annually, it's need a big boost in their revenue before it start to go up. Got to wait for next quarterly report. Bornoil or Nice, both going through the same thing.

The risk that I m talking about is the fall in gold price. A collapsed in US market, won't guarantee a jump in gold price too. Check out the few past trading

Oh my bad then. I didn't managed to get that info. Still not the 1.2B. But based on it 4.5% is a lot though

As I said I m bullish on gold. And I see the potential upside in bornoil. So no need for such big reaction.

Funny to see such a big reaction. Why? So did Macquire ady subscribed to the 1.2B? It has been offered to them for 6 months. Only 20m so far? I guess you have more than 20m shares since it caused you to react like a fool.

Just to clarify for those trying to mislead people. Bornoil entered into agreement with Macquire Bank with options to 1.2B new shares.

Up till today, only 20m shares been subscribed by Macquire Bank. Not 1.2B. if yes they would have been the biggest shareholder. The biggest shareholder also ceased to be the substantial shareholder in 2020. FREDDY lim. And Victoria Ltd also been disposing their shares

Ofcourse I m not recommending to buy or sell. But just don't try to mislead people ya. I m bullish on gold. But bornoil, till today haven't shown enough that they had a lot of gold on hand. I don't see any annual report that stated they have tonnes of gold on hand.

Potential, yeah bornoil likely got upside. But there would be risk.

All apps the same. Due to the number of investors using the app at the same time. Server couldn't handle the surge in usage of the apps.

Early morning too excited, Pre ejaculation. Now need some tongkat Ali to boast further.