Blumont

Take a look at the chart of Blumont. It's eye-popping if you imagine that there are parties tightly managing the upward movement. Cool!

Blumont has an answer to my Question 2 postings above:


The Company wishes to inform Shareholders that the coal mining company in question is Cokal Limited
(“Cokal”), a company listed on the Australian Securities Exchange (ASX: CKA).

The Company’s share trading prices this morning have materially and adversely affected the commercial terms discussed with Cokal. In light thereof, the Company and Cokal have agreed not to proceed with the Transactions for the time being. The Company and Cokal continue to believe in the strategic merit underpinning the proposed Transactions, and are continuing to explore opportunities for similarly mutually beneficial transactions with each other.

Singapore Exchange (SGX) will lift the suspension of securities in Blumont Group Ltd (Blumont) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares Blumont and its related securities as Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold; and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of Blumont and review the circumstances in due course to end the declaration.


Does anyone know how to make cash payment at the time of order execution? U have to be at the broker and hand over the cash???

With restrictions like this, Blumont will resume diving into the deep pool. Hit bottom @ 20 cents?

yr acc hv to be funded first b4 u can buy. else trade get rejected.

I heard you have to have transferred money either by cash or EPS into your account first before can buy. This is very artificial market for Blumont. It creates a powerful downward pressure on the stock price. Hmmm.... I am thinking of picking up some Blumont if it falls to below 8 cents.

Be wary of entering the stock, even if it falls another 30%. After a plunge like the one it went thru, Blumont could have many ripple effects that we can't see. For ex., what is going to happen to the many millions of dollars of Blumont stock bought on the way up and on the way down too? When do they come due and what is on the minds of the holders? Lots of volatility and uncertainty.