BNX.A/B.V - BNP Resources - Page 61

I think Bilcox selling at 6c really put a cap on this thing. I'm really close to doubling my position, but only if I can buy at 4c will I do it.

Quote:

Originally Posted by LOOPY84 

how much longer will they keep doing this. wtf

Quote:

Originally Posted by LOOPY84 

how much longer will they keep doing this. wtf

Agreed, its nuts. I mean who the heck keeps taking all these shares for debt? Bilcox must be promising some serious returns to everyone because they've been doing this since 2009. At least 20% of the O/S is made up of shares for debt. With no volume, I don't think these creditors are expecting to sell their shares anytime soon.

Then the whole PP after PP with Bilcox and Doody buying is also strange. This entire process has been odd and i've never seen a junior stock run like this. I'm talking about how cryptic management has been with information, insider buying & shares for debt, lack of restructuring. I think BNX is the only play that went under 10c in 2008 that hasn't had a moved up, restructured or gone chapter 11. It's just been idle, waiting for something. Lots of people have shares but nothing is happening.

But theres a reason for everything and as long as we can get Jensen going this should move. At this point I dont care whether they do a jv,merge or finance, just get the wells pumping!

Quote:

Originally Posted by YoungInvestor89 

I think Bilcox selling at 6c really put a cap on this thing. I'm really close to doubling my position, but only if I can buy at 4c will I do it.

 

4 cents is 33% less than the PP in March. Save a block for me if you can find some!

Dude is right - things must be in the planning and we should expect something pretty soon.  

Quote:

Originally Posted by YoungInvestor89 

I think Bilcox selling at 6c really put a cap on this thing. I'm really close to doubling my position, but only if I can buy at 4c will I do it.

 

yes thats possible, but investors need to realize that how he did it is unusual. If it was a bad situation, Bilcox would of destroyed the price completely like Privco and sold on the market. But because he "privately" sold to another individual, thats not what usually happens. When a friend of mine asked the company why, he was told it was for "tax purposes". Ok well if thats the case and Bilcox sold shares at a loss, then why did he buy into a pp just a couple weeks before selling? He must be expecting to sell his remaining position at a profit, and use those funds to exercise his 10c options. For all we know, a family member has those 2.15 million shares and the $129k he received will exercise his warrants.

$129k is a good chunk of cash, and nobody in this market would buy them off Bilcox without a guarntee that they'll make money on those shares. Same situation as the creditors.

well ill be...theres your 4 cents

Someone taking a chance and doing a shakeout. At this point, any shareholders that have been in BNX for a while are waiting till the end. I dont see any significant selling unless its a very old shareholder from 2010 or earlier, or a creditor.

Quote:

Originally Posted by thedude4599 

Someone taking a chance and doing a shakeout. At this point, any shareholders that have been in BNX for a while are waiting till the end. I dont see any significant selling unless its a very old shareholder from 2010 or earlier, or a creditor.

whoever tried the shakeout..........lost 16K to me mate :-)

Curse you... I tried to put in a buy order to cover the week if it hit 4c, but my Waterhouse was being finnicky so I just gave up...

Think I'm the lone bid now @ 4c. Guess we'll see what Monday has in store.

Quote:

Originally Posted by airbender 

 

 

whoever tried the shakeout..........lost 16K to me mate :-)

Wizard status confirmed. 2nd time this has happened.

Quote:

Originally Posted by ivano123 

well ill be...theres your 4 cents

Quote:

Originally Posted by airbender 

 

 

whoever tried the shakeout..........lost 16K to me mate :-)

Consider it an early gift .....made the decision today to free up some cash for a bmw r75/5. Sold some shares hehe...obviously at a loss. But i wont care when im riding...haha. Best of luck to you all following this one, im certain itll pay (and maybe cover up a bit of my rash decision)

Cheers

Oh, and I wasnt trying a shakeout ... hahah 

Mind letting go of a few more? You know you want that $500 cargo net option.

Quote:

Originally Posted by ivano123 

Consider it an early gift .....made the decision today to free up some cash for a bmw r75/5. Sold some shares hehe...obviously at a loss. But i wont care when im riding...haha. Best of luck to you all following this one, im certain itll pay (and maybe cover up a bit of my rash decision)

 

Cheers

Quote:

Originally Posted by YoungInvestor89 

Mind letting go of a few more? You know you want that $500 cargo net option.

 

LOL     nahh

I think Loopy would agree,

This is easily the worst investment I have ever made....no communication/constant PPs and no hints at what is going on...gentlemen..lets be honest with ourselves we have lost over 75%....we need a 300%+ gain just to get back to .12...where we started...

Dear worried investor,

You raise a valid point. However, lets not forget one of the very crucial factors in assessing the potential of this company... the float. On top of that, one man owns over a third of the company. That means there is ~40M 5c shares hanging around worth $2M, which is not a lot of money at all. The reason we haven't seen a B/O is not the current value, its whether or not we're economical.

Wait for a performance report of some kind. Its not like Doody/Bilcox are just punching a time card every day waiting for someone to discover them, they're working to determine the viability of the wells/determine the life and output of them ideally. Remember that we have several cased wells that simply need stimulating, which is not typical of such a tiny play.

Sincerely,

Calm investor.

Having said all that, I'd be happy to take a few lots off you at 3.5.

Quote:

Originally Posted by davidstlukas 

I think Loopy would agree,

This is easily the worst investment I have ever made....no communication/constant PPs and no hints at what is going on...gentlemen..lets be honest with ourselves we have lost over 75%....we need a 300%+ gain just to get back to .12...where we started...

(This is just my opinion so take it for what it is ...and I would love other thoughts on this as well)

Ya thats all well and good...Ive been in this play for well over a year now so I know essentially where we stand....and that is the real issue...cause we stand relatively stagnant for the most part as the share price continues to significantly decrease...

But the facts remain that the same things have been said at .12 and .10 then .09 then .05 and NOW .035 .....are we still going to be saying the same stuff if this thing hits .01? It would then be over 1000% gain just to get back to where we started...meaning (in my opinion) that even if we get a buyout, we should all just expect to break even, or do slightly better...again just my opinion and I would appreciate different views

Quote:

Originally Posted by YoungInvestor89 

Dear worried investor,

 

You raise a valid point. However, lets not forget one of the very crucial factors in assessing the potential of this company... the float. On top of that, one man owns over a third of the company. That means there is ~40M 5c shares hanging around worth $2M, which is not a lot of money at all. The reason we haven't seen a B/O is not the current value, its whether or not we're economical.

 

Wait for a performance report of some kind. Its not like Doody/Bilcox are just punching a time card every day waiting for someone to discover them, they're working to determine the viability of the wells/determine the life and output of them ideally. Remember that we have several cased wells that simply need stimulating, which is not typical of such a tiny play.

 

Sincerely,

 

Calm investor.

 

 

Having said all that, I'd be happy to take a few lots off you at 3.5.

Welcome to the world of the Canadian Venture Exchange man, hope you didnt put all your dough into this . I too am dissapointed  but so far its been low volume dragging the price down from lack of news. This could turn around in one night or it might go bankrupt haha (i doubt). For one thing they cannot keep trading debt for shares forever obviously, but I am encouraged that creditors are accepting shares for debt. Also do not forget insiders own a large chunk and I am pretty sure the last thing they are going to want do is lose their investment... somethings cooking . Also having thedude around is always a good sign. I have been lurking on these forums for years and seen him hit some real flyers.

All valid points, but consider if you bought now, you'd be getting paying 2/3 of what the majority holder paid. Put yourself in his shoes... He has $1M tied up in this thing and its worth $600,000 at best. If Doody tried to liquidate, he'd drive the company into the ground. We have more 0 volume days than not and we're at a level where most of us could double positions and hit insider averages. I totally understand where you are coming from, and am not trying to convince you otherwise. We're all frustrated, and the beauty of the stock market is that you can come and go from a stock as you please. As we saw Friday, someone wanted out, so they sold at 3.5c to cash out. At the end of the day, someone won and someone lost on that sale. The guy who sold might be a fool when it hits $1, or might be a genius when it goes Ch 11.

Quote:

Originally Posted by davidstlukas 

(This is just my opinion so take it for what it is ...and I would love other thoughts on this as well)

Ya thats all well and good...Ive been in this play for well over a year now so I know essentially where we stand....and that is the real issue...cause we stand relatively stagnant for the most part as the share price continues to significantly decrease...

 

But the facts remain that the same things have been said at .12 and .10 then .09 then .05 and NOW .035 .....are we still going to be saying the same stuff if this thing hits .01? It would then be over 1000% gain just to get back to where we started...meaning (in my opinion) that even if we get a buyout, we should all just expect to break even, or do slightly better...again just my opinion and I would appreciate different views

Anonymous sell today...

Doody starting to buy again

This was intentional; he clearly didn't like seeing bids building up at 4c. 10,000 is a pittance for him, and was the exact amount on the ask at 4.5 almost all week.