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They are back to torrefication. The have come full circle. Back to where they started.
Phillip
News out:
http://m.digitaljournal.com/pr/2645310
Phillip
The only knowledge I have is from public records. Meeting Minutes from the Port of Natchitoches indicated that BMSPF was continuing to make progress past the March deadline others on this forum gave. Since then the Company has made another filing more or less saying that European take off agreements are in limbo due to the exchange rate and strong dollar impacting purchases from the US. The Company has now revamped their business plan to look for local (US) contracts. Funding will be through a reverse split and new stock issuance. I for one don't believe them any more and don't see anyone willing to buy anything they have to offer. After 15 years, I've somewhat lost interest other than the pellet industry as a whole.
Phillip
I would contact the Port of Natchitoches and ask for a copy of their Board meeting minutes. The company has been on the agenda and minutes for several months, but whether this is the real deal or another path down a road to a project destined to fail is anyone's guess. The one thing I would say is that the March deadline quoted by others on this form doesn't appear to be consistent with the minutes from the Port.
Phillip
With as much disdain for the company, you would think that it was Mr. Golden Rooster talking . . . or the Gaspers . . . or both . . .
I've had my own criticisms of the company, but I don't live and breathe hatred on a daily basis. It isn't healthy. It makes my blood pressure rise and more of my hair fall out. Besides, does anyone know what happened with Jim and the Gaspers? I've never understood what the law suit was about.
Phillip
Like any stock forum, the response to that question will vary depending on whether the person is one of the company's cheerleaders or bashers. Both exist here and they have their motives.
As far as potential, yes, there is potential. There is also risk. Risk to lose all that you put in. The potential lies in a lot of circumstantial evidence and some facts. Facts: The company is actively working at the Port of Natchitoches to build a pellet plant. This is corroborated by the port's meeting minutes. Fact is that the company is spending their own money and deferring salaries for years with relatively small dilution as of last financial statement (I don't see a company wasting their own money if they didn't think their was an achievable goal). I also have a theory based on circumstantial evidence that their plant was deliberately sited in coordination with a large power producer in England.
They have announced the possibility of selling wood chips in the short run.
Now the downside...
They have a track record of projects and financing that never came to fruition. Some have argued that this is because better options to pursue have come up.
Recent dumping of shares could imply that there is trouble.
I've been chastised by their management for asking for public records about what they are doing.
Being a small company some view that they don't have the capability or capacity to pull a big project like this off.
Phillip
Philo Betto,
I agree with your statement that nothing the company has said has ever come to fruition. That's one of the reasons why I stopped listening to them and listen to those that don't have a vested interest. The thing I don't get is why you come on here with all of the dire warnings. Are you truly concerned about everyone's financial welfare? You don't seem to be that type. Are you vetting your personal grudges? What is your motivation and how do you know that they have until March to sign the lease?
I stopped asking Jim any questions. He's ticked at me for asking the Port for public information and we totally disagree on this issue. Anyway, if this is insider selling based on bad news that isn't released to the public, I'm sure there are plenty of shareholders remaining to go after Board. For some time, I have been skeptical of the pellet sector with the renewables obligation (RO) being lost, oil plummeting, the dollar strengthening, etc. If Drax was to have them lined up to supply their fourth plant's conversion to biomass and the RO was gone, I can easily see BMSPF never getting off the ground.
Then again, this could just be the company desperate for cash and issuing new shares at whatever price they can. Not a good sign either.
Phillip
At this price, who could resist?
Phillip
Nightshift, I take it that I shouldn't get back in at these levels?
Phillip
Thanks. Good thing I sold my 300 shares when I did.
Phillip
Reports show impact of strong dollar, oil prices on pellet sector
http://www.biomassmagazine.com/articles/11440/reports-show-impact-of-strong-dollar-oil-prices-on-pellet-sector
Phillip
Someone is running out of money. Only 70 shares traded today. Baahhaahaaa!
Phillip
Then do the rest of us a favor and sell. In exchange I'll tell you what I'm going to buy and you can sell short. Whatever I buy is guaranteed to tank the next next day.
Phillip
Great minds think alike. We're probably starting a mass exodus out of this position. Monday may see an extremely high volume at 1,000 shares. 'Glad we got out when we did.
Phillip
You're right. I sold my entire position today. All 300 shares. :). I'll sleep better tonight.
Phillip
50,000 shares at 0.007 and 100 at 0.0174. I wish I understood the joke.
Phillip
Change in England's Renewables Obligation.
Anyone else following England's change in their Renewables Obligation?
http://renews.biz/80891/decc-pulls-biomass-ro-guarantee/
Phillip
What's with the volume today? Taking losses for this year's tax return. Most of the shares were sold for next to nothing. Someone is getting out before year end or someone knows something?
Phillip
One can only take so much of the "any day now" propaganda. When "any day" turns into years, they lose credibility. The latest was supposedly a ground breaking ceremony that was supposedly going to happen in October, but with this company plans come and go like a fart in the wind with no explanation. To the company's dissatisfaction, this is why I look to other sources to find out what is going on. The good news is that the other sources at least show that there is still movement and that they are at least going through the motions of showing that there is activity on the latest project. I can't imagine anyone flying around the country for a project that has fallen apart. If I had to speculate based on what I do know, I just suspect everything is taking longer than anticipated. Time will tell whether Natchitoches will be another project that disappears into limbo.
Phillip
Also news in the HufPo.
http://www.huffingtonpost.com/susan-buchanan/louisiana-wood-pellet-pla_b_6245666.html?utm_hp_ref=green
Phillip
The news may explain the volume we had yesterday.
Phillip
Good news. Are these new or the same ones announced previously?
Any word on the TSX. I'm thinking it would occur after definitive agreements and bonds are in place.
Phillip
A few other investment ideas . . . If biomass takes off, timberlands will also. Here's a few of them to chew on:
Weyerhaeuser (NYSE:WY)
Plum Creek (NYSE:PCL)
Potlatch (NASDAQ:PCH)
Rayonier, (NYSE:RYN)
Pope Resources (NASDAQ:POPE)
Acadian Timber (OTC:ACAZF)
Phillip
Weird trading pattern today. Something is going on.
Phillip
I'm not downplaying the developments, just questioning whether they are dated from June or if there is anything more recent. It's definitely good news along with other news I received last week.
If there's any flaw, it's probably in my ability to get excited at new information. Contracts have been announced before (LG) which never seemed to come to fruition. Perhaps that agreement is still in play and I'm being impatient. I am glad to get new news though so thanks for the update.
Phillip
Thanks for the update. If the agreements were pending as of their June 30th financial statement, I'd be curious to know if there has been any significant developments since then.
Phillip
I received this in the mail from the Port of Baton Rouge yesterday. Nice blurb about the Drax project.
Port Annual Report
Phillip
Interesting that it comes from an outfit out of Sweden which is hardly a bastion of environmental ambivalence. With the number of environmental groups opposed to biomass, I'm glad to see those who support it.
Phillip
A little dated, but a good read:
The Asian Wood Pellet Markets
by
Joseph A. Roos and Allen M. Brackley
Phillip
Yep. But I don't let bullies get to me.
Phillip
I'm sure it was me he was referring to because I emailed for the meeting minutes last night. For some reason he believes I don't have the right to public information or the right to research and protect my investment. Maybe Canada doesn't have the same freedom that Amercia has.
Phillip
New filing on SEDAR. A couple of highlights:
Ohh, I thought maybe there was news that was out that was just "more rhetoric".
Phillip
What's rhetoric?
Phillip
News anyone? It's pretty quiet around here. I thought I read that there was to be a ceremonial groundbreaking in October with actual construction beginning next year. This bond issuance seems like it would take more time than that, but who knows if they will need to find and attract buyers to the tune of $180 million.
Phillip