Blumont

[mulyc]

Really pity all those who got in yesterday at $2+

So you should pity all those people who goes to the casino and lose money? I don't as they know when they go in with their eyes open that it is pure speculation.

Hmm, thats quite subjective, but I think casino goers go in with their eyes open, whereas Blumont case even brokers also shout that their announcement is good news. So there are people who went in follow such advice too.

[valuebuddies]

I think you should check with your broker. I remember some years ago at another forum somebody shorted CAO was suspended they were caught in the same situation got stuck.

blumont just made new announcement takeover and investment in a mining company

http://infopub.sgx.com/FileOpen/BGL_SGX_...eID=258593

not vested in blumont

Another tiny worthless mining company again?

Regarding your CFD question, if you shorted Blumont CFD and kenna suspended now, you will be stuck with it until suspension is lifted. along the way all finance charges will still be payable. Like kenna sucked blood lidat.

I used to have 2 suspension case in my lifetime, one suspended until delisted, another suspended for years. But those who shorted this bloody co at $2dollars plus, even kenna broker suck blood for couple of days, they still can make big

It's very likely that Blumont's stock price will decline further after trading halt is lifted. The syndicate will be bailing out to take whatever profit they have left. And they might start taking profit on other penny stocks they controlled. Expect more selling on these stocks.

Penny stocks that have no fundamentals and have risen solely on hype and RTO and M&A news will adjust to their intrinsic values in the next few days.

Obviously it is just a 10c stock, knowing that the potential of making 8 times profits, but I will not short it as the suspension is uncertainty, it could be forever. I just upgraded myself this year, no more punter, just value investor.

[opmi]

Seems like SGX is getting more hardline on penny stocks speculation. Suspend first then let companies clarify later.


From SGX annc.

19 INNOPAC HOLDINGS LIMITED REPLY TO QUERY REGARDING TRADING ACTIVITY Oct 4 2013 10:48:47 AM

18 LIONGOLD CORP LTD MISCELLANEOUS :: CORRECTION: SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") SUSPENDS TRADING OF SHARES IN LIONGOLD CORP LTD Oct 4 2013 10:05:23 AM

17 ISDN HOLDINGS LIMITED QUERY REGARDING TRADING ACTIVITY Oct 4 2013 10:01:10 AM

16 LIONGOLD CORP LTD MISCELLANEOUS :: SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") SUSPENDS TRADING OF SHARES IN LIONGOLD CORP LTD Oct 4 2013 09:57:20 AM

15 ASIASONS CAPITAL LIMITED MISCELLANEOUS :: SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") SUSPENDS TRADING OF SHARES IN ASIASONS CAPITAL LTD Oct 4 2013 09:54:12 AM

14 BLUMONT GROUP LTD. MISCELLANEOUS :: SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") SUSPENDS TRADING OF SHARES IN BLUMONT GROUP LTD Oct 4 2013 09:51:26

[sgd]

Another tiny worthless mining company again?

We don't know what is the game plan but long term I got a feeling it could be big or it could lead to nothing lets see.

ipco owns blumont bought at 1.5 cts rights issue price. At this price 88 cts is still a lot of money in the black.

yet I wonder somehow when blumont was on the way up at $2.39 cts why ipco did not even sell 1 share which has no logic becuz at $2.39 ipco holdings on blumont was worth over $350 million and they not cashing it gives me the impression that this could be something thats going to be worth much more or something down the road. What is it that I dunno?

I bought ipco at 2.8 cts, it went up 4.6 cts recently came down now still 2.8 cts, none of the big players have sold, the chart also shows ipco not moved much - I'm just hanging on to it.

[opmi]

what is special about acquiring microcap mining companies? plenty in OZ and Canada.
Just because it is listed in SG??!

An excuse to goreng/stirfry.

To play concept stocks, need to suspend rationality. But need to be careful not to starting believing in BS.
Quitting while ahead is different from quitting ....hee hee...

[Behappyalways]

Theoretically management cannot buy or sell....theoretically......

but their 'friends' can ^^

[opmi]

heard from friends that syndicates made money from intra-day buying and selling. They try to square off position at end of day too.
Probably substantial shareholders will get out in a placement after the engineered price rise.

[HitandRun]

The other day I reading about Asiasons... and after that it was Blumont. And then hor, I realised that IPCO is a shareholder. Ha Ha.. now I understand the trade. If you have the time, do a trace back of IPCO for the past 20 years.... History does not repeat itself, but it certainly rhymes...

[sgd]

For ipco I bought at 2.8 cts. When I bought this I calculated only current assets minus all debts is already 3 cts a share. Current assets over all debt ratio is 2.8 times.

I think no worries to holding ipco.

[mulyc]

Alot of rubbish going on in these rubbish counters. I'd like to see SGX take a harder stance on them.