BDM 1.00% 9.9¢ burgundy diamond mines limited

After a few months absence, I'm back in for a few recently -...

  1. 892 Posts.
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    After a few months absence, I'm back in for a few recently - including all of today's massive volume!
    With news pending (I assume?) then anything under 9 cents looks good to me.

    I've posted previously (Aug 17 & Jan 18) on the 4 companies that have either O'Keefe or Thomas Larsen as the CEO or board member:

    Champion Iron & EHX - O'Keefe
    Eloro & Cartier Iron - Larsen

    O'Keefe took over as CEO of CIA from Larsen after it merged with O'Keefe's formerly ASX listed Mamba Minerals in 2014 & as a result, CIA is now a dual listed company (TSX & ASX).

    Champion Iron (ASX: CIA) has a JV property (Gagnon) with Cartier Iron. The high-grade resource is in place but awaits future development of the Southern Labrador Trough (new railway link to the port).

    Cartier Iron (CSE: CFE) is currently busy progressing it's earn-in to a Gold property in Canada - The Big Easy.
    Latest news on this is here:

    https://globenewswire.com/news-rele...t-for-the-Big-Easy-Property-Newfoundland.html

    CFE hold 2.5 million shares of Eloro & their market cap is around $5 million which is currently about half that of EHX.

    CIA holds shares in both CFE & Eloro which they received in lieu of payments from CFE as part of CFE's earn-in to the Gagnon property.

    At some point down the track, perhaps in 2019 or later, I believe it could be beneficial for both companies if EHX & Cartier Iron were to merge into a dual- listed slightly larger company with 3 properties (Two in Canada & one in Peru),

    Benefits to EHX:

    The addition of an iron ore & a gold project in Canada
    Increased scope to raise future funds (Canada)
    Strengthened board with the addition of Thomas Larsen

    Benefits to CFE:

    The addition of 25% of La Victoria (a direct stake in the project to add to their Eloro shares)
    Increased scope to raise future funds (Australia)
    Strengthened board with the addition of O'Keefe & others from the EHX board

    I have no idea what the regulatory costs of a merger would be but it wouldn't be the first time that O'Keefe & Larsen have collaborated on a merger of two companies.

    This is all speculation of course - just a possibility for the future?

    Now, where are those drill results??

    .
 
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Last
9.9¢
Change
-0.001(1.00%)
Mkt cap ! $191.8M
Open High Low Value Volume
10.0¢ 10.0¢ 9.9¢ $41.98K 420.0K

Buyers (Bids)

No. Vol. Price($)
1 22552 9.9¢
 

Sellers (Offers)

Price($) Vol. No.
10.0¢ 105267 9
Last trade - 10.14am 27/11/2024 (20 minute delay) ?
BDM (ASX) Chart
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