(Icon) Borneo Oil (2) - Struck Gold Worth RM270 mil

hehe..........con con here

2016-07-21 11:38

icon, i think mango2 deserves an official apology from you... as he had mentioned many times in the past that most of the gold inventory was purchased for trading (which you insisted it was from mining activities)...

and it has prand it has proven what mango2 and I deduced is correct (that most of the gold inventory is purchased for trading)... you guys better watch out as gold trading is also a bit risky if gold price drops instead of go up... it is like betting to me...no one knows if gold will continue its uptrend move or the opposite direction...

2016-07-21 11:38

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=73666&name=EA_GA_ATTACHMENTS

2016-07-21 11:38

I don't need to apologise lah...when he raised the issue, I treated him with respect to the extent that I cut and paste his comments on my articles to alert my readers of the possibility that Mango could be correct. What more do you want me to do ? sigh

I will apologise to somebody if I was rude to him. But apologise to him because he got something right and I got it wrong ? It doesn't work that way, right ?

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iloveshare128 icon, i think mango2 deserves an official apology from you... as he had mentioned many times in the past that most of the gold inventory was purchased for trading (which you insisted it was from mining activities)...

and it has prand it has proven what mango2 and I deduced is correct (that most of the gold inventory is purchased for trading)... you guys better watch out as gold trading is also a bit risky if gold price drops instead of go up... it is like betting to me...no one knows if gold will continue its uptrend move or the opposite direction...
21/07/2016 11:38

2016-07-21 11:43

forget it lah iloveshare, no apology will you have from low life character macam ni

2016-07-21 11:49

I am not always correct (nobody is perfect).

Sometime after I published an article, if I discovered some of my view is incorrect, I can't simply publish another article to make a U Turn. Many readers bought the stock after reading my articles. If I change my stance too drastically, there will be a lot of commotion, leading to losses by my readers. It is better to wait and see first and let market forces slowly play it out.

In Borneo Oil's case, I accepted Mango's view might be correct when he raised it few weeks ago. However, instead of drastically revamping my article, I feel that a better way is to cut and paste his comments on my articles for everybody to read.

In actual fact, the way I handle this case has proven to be correct. If I simply revamped my earlier article, many of my readers would have panic and sold at a lost. By allowing them to hold on their shares, they can now benefit from Borneo Oil's subsequent announcement of gold discoveries.

Investing is like that mah - you be a bit patient to ride out the rough patch. Don't simply panic and sell. As long as the company is ok (not in financial distress), no harm take a wait and see approach.

2016-07-21 12:01

I have no regret how I have been handling the case, and I don't see the need to apologise to anybody

2016-07-21 12:01

ok icon, you have your stance too, understandable... no worry.. just cheers and enjoy the investment... :)

2016-07-21 13:42

Seeder

well said icon8888!!! U know, the biggest mistake I din do is to buy airasia when the time u mentioned "sailang"... N bcos of ur airasia article, I spend lot of time in i3 now ^^
Thumb up!!!

2016-07-21 13:48

Shellhouse

Relax, relax. Everything on this forum are merely opinions. So are all of the analysts' reports.

Feel free to acknowledge or agree to disagree. No one pointed a gun to your head and forced you to buy.

2016-07-21 14:11

mango2

Thanks iloveshare128 for your support.

Anywhere I do not think an apology is necessary as at least Icon "... treated him with respect to the extent that I cut and paste his comments on my articles to alert my readers of the possibility that Mango could be correct." and thanks for that Icon.

What puzzled me is with Icon's sharp analysis skill as proven in the past, why he steadfastly held the view that the Bornoil gold inventory is gold mined, when circumstantial evidences clearly said otherwise. It make me wonder is Icon part of syndicate (no offence intended)?

Maybe Icon may have an answer to my puzzlement. Thanks in advance.

2016-07-21 17:31

sharktank

hihihi...u think syndicate dare to take up this stock to goreng?

2016-07-21 21:11

Apollo Ang

tipu one lah i seen many companies like this before.....in the 80's remember KESANG strike gold. then a few years back RANHILL strike oil all tipu. after they dispose off their stocks they will say no gold.

2016-07-21 21:44

phg1

Still got plenty of gold? Thought brexit took most off the gold many many moons ago. If really still got plenty, others would have got hold of it first. Leave it there for bo to pick it up?

2016-07-21 21:45

mango, I no syndicate lah. You imagine too much

2016-07-21 21:57

In the future, if you disagree with my article, go and write another article to argue against it lah. That is easier than trying to convince me to change my article. I don't mind input from others, but I reserve the right to decide how I write them. Nobody can dictate to me what to write

2016-07-21 22:12

mango2

Thanks for your suggestion, Icon. I don't think I am up to the standard to write article yet. I think I just stay with commenting for the moment (minus convincing u to change your article)

2016-07-21 22:50

hankc

A goldmine is a hole with a liar standing next to it.

2016-07-21 23:13

Icon really PPP who bring bad luck one. See! Proven again, more he wrote, the share price will goes down....damn bad luck magnet

2016-07-22 00:43

Haha.........why must I tell you my move?
You keep asking me sell, but share price up and up saja.

2016-07-22 00:54

Bornoil no matter business is gold mining or gold trading, they still in right track of business. The gold resources become limited in near future. Value of gold will be appreciate slowly. Long investment in gold is alternative investment by the rich investor now. With discovery of the new mining at Indonesia, I believe bornoil future is very bright.

2016-07-22 03:54

Mining of gold take longer time and process to show profit. If bornoil not trading gold, they may not able to provide us profit this quarter. Although small profit but show they are very eager to turn the company to black again.

2016-07-22 03:58

Icon888, do not simply pick a stock to write. Only good stock fit his criteria then only he write. For long term bornoil worth more than 0.40

2016-07-22 03:59

So far bornoil performance is still strong since support price 0.145 . U will see more uptrend in coming quarter. The stock inventory of gold mining is increase day by day by bornoil. The next quarter result will be exciting

2016-07-22 04:04

007

stupid article. better sell before too late.

2016-07-22 05:53

casperl

you decide your trade, no point screw people as you choose to believe.

2016-07-22 07:01

007

Do simple calculation before you write, not sure either ignorance or pure x@#x&*

2016-07-22 09:19

soon9913

All bros, there is no absolute answer one. If you don't like gold investment or gold trading due to it is high risk, pls stay away from this counter. As the share price might be collapsed if gold price drop.
There is nothing wrong if someone foresees gold price will be up further in near future and top up more shares.

Anyhow, I have made my profit as I don't like gold investment. the revenue of latest quarter is already more than 5.5x of this newly discovered gold reserve.

Decision is yours. Huat ar!

2016-07-22 10:09

wakakaka88

gold will move all the way up till year end..wakakakaka..

2016-07-22 11:12

mango2

Due to the lack of clarification in the inventory report, many ppl have been caused to believe that gold in the inventory are gold mined, when they are not.

Now with this annoucement of gold reserve of 1,892 kg in its Bukit Ibam Mine in Pahang, but the actual cost of mining not ascertained/affirmed yet, many ppl may have been caused to believe that the reserve can bring good profit to the company, when at the end of the day it may not, due to the cost issue.
(Pls see soojinhou comment below, reproduced from Bornoil thread)

Will ppl belief about good profit from the reserve be crushed in due course, just like their belief about the gold inventory earlier? I do not know.
But so far Bornoil has set a not so illustrious precedent in its unclarified inventory report.
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soojinhou: Sumika, I agree with everything you said, but it all boils down to cost. How much does it cost to get the gold out from the ground. If it cost less than spot price, it is profitable, if it is more, then it is not. Now CNMC's ore grade is actually quite poor by global standards, and Bornoil is 4-5 times worse than CNMC's. Bornoil is also using a non-cyanide technique which I'm not familiar with. I'm not pouring cold water on you, I hope you make truckloads, but at this moment, it is too difficult to deduce the approximate cost. Mind you, the management guided that they produce gold at a cost of USD 500/oz. I don't know which mine they are talking about but it is almost certainly impossible to get such a low cost from such poor grade ore. Good luck. Just remember ya, to get 1 gram of gold from an ore grade of 0.3 g/t, you need to leach more than 3 tons of ore. That's a humongous load of dirt for a pitiful amount of gold. The management can choose to front load the higher grade ore first, those that are above 1 g/t, in which 874.2 kg can be extracted. But watch out if the company does that because when the higher quality ore are exhausted the cost increases dramatically.
19/07/2016 20:31

2016-07-22 14:13

007

simple conclusion right, why write so long. is not viable to mine. company wasting high cost to do exploration paying geologies, an all the experts.

2016-07-22 16:26