It will be a good bet. If it turns non-exciting then holding at 0.055 or 0.05 the downside is 0.03. The losses is manageable. Warrant D has only 370++ million issued, now @ 0.02 still manageable. Downside will be around 0.01...manageable risk (paper lost). In others words who knows what will happen tomorrow. If you afraid to be scamed by the news...buy small 100,000 units...either 5500 or 2000 for warrant. Limited issuance warrant allows this warrant to react faster compared to Warrant X which has larger issuance.
Borneo Oil Berhad is a Malaysia-based investment holding company. It provides corporate and management services. The company operates through four segments namely Head office and others, Fast food and restaurant operations, Management and operations of properties and Oil, gas, energy, and mining-related businesses. Its services consist of fast food and franchise, which include SugarBun and Pezzo Pizza, and gold mining. The company holds two mines comprising of Merapoh mine and Bukit ibam mine. In addition, it also conducts limestone mining operation which is located in Ulu Segama at Lahad Datu, Sabah.
As mentioned earlier, the BornOil group now intends to proceed with excavation and mining on the 1st Zone via an outsourcing business structure with a contractor to be appointed shortly.
BornOil is also continuing with exploration works on the other 7 zones and shall similarly assess the same under the JORC Standard, the resources therein at an interval of 3 to 6 months for each zone.
To recap, back in May 2010, an Exclusive Agreement had been inked between Perbadanan Kemajuan Negeri Pahang (“PKNP”) and HDL Global Sdn Bhd (“HDL”) for the prospecting and mining rights to an area covering 1,200 hectares within Hutan Simpan Bukit Ibam in Pahang.
Subsequently in March 2015, BornOil, via an Exclusive Production Sharing Agreement with HDL, was granted sole and exclusive right to prospect, explore, mine, extract, process, sell and collect all revenue of sales with respect to all minerals and precious metals including gold over the said area.
Currently, an area measuring approximately 187 hectares/ 462 acres within the area has been issued with a mining lease on which the BornOil Group is currently carrying out mining works.
The mining area, in turn, is divided into 8 zones on which the BornOil group has been conducting detailed exploration works.
At the conclusion of Phase 1 and Phase 2 of the preliminary exploration works on 7 of the 8 zones from A to G, an assessment of potential gold resources dated March 2019 was prepared by Dr. Yves showing potential gold resources of 60,032 oz or 1,866,943 gm (1.866 ton) of gold.
Those who have been long enough with Bornoil will know the characters of this counter. Once it moves, it will move very high up. 7 sen now is just the beginning. First tp will be 15 sen.
I hv been sharing the gold mining factor in this group very earlier on when everybody is pessimistic. Gold price now shot up to historical high, same with the shares price
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Peter2357
597 posts
Posted by Peter2357 > 2020-08-06 23:27 | Report Abuse
Bornoil is already in Gold mining 2yrs back