Flavocide looks to be winning the war against pests

Flavocide looks to be winning the war against pests

Agribusiness
Bio-Gene Technology has announced significant progress in its battle to control the lesser grain borer with its Flavocide insecticide.

Bio-Gene Technology has announced significant progress in its battle to control the lesser grain borer with its Flavocide insecticide.

Aa

Shares in Bio-Gene Technology (BGT) jumped nearly 20pc in a sudden burst of trading on August 31.

Aa

Trading in Andromeda Metals (ASX code ADN), South Australia's would-be kaolin/halloysite miner, seems to be dropping off, both in value and volume.

For a week towards the end of August the shares peaked at 7c, and turnover ranged between $4.4 million and $1.25m, with between 70m and 24m shares changing hands in a single day.

Last week the turnover averaged around 12m shares a day and the price declined from 5.6c to 5c.

Buyers seem to be losing their enthusiasm.

The Punter bought 150,000 ADN shares in November 2017 for 1c each.

In May this year they were half a cent and he had lost half his money.

Then the company teamed up with Minotaur Exploration (MEP).

Minotaur had been sitting on the deposit for years, but had neither the time nor the resources to do anything with it.

The joint venture (ADN has a 51 per cent stake) put provisional offtake agreements in place with Chinese and Japanese buyers, and put new emphasis on research into high-tech uses for halloysite nanotubes.

That's when the run started. As the shares soared, the Punter began selling.

On Friday last week he sold his last 50,000 for 4.9c each, bringing his total profits on this little beauty to $5,320.

Hanging on to anything in this market is a bit like riding a quad bike with over-inflated tyres - very bumpy.

Partly for that reason he is not rushing to reinvest his ADN windfall, but he has added a new share to his watchlist.

Shares in Bio-Gene Technology (BGT) jumped nearly 20pc in a sudden burst of trading on August 31.

Two days later the company announced significant progress in its battle to control the lesser grain borer with its Flavocide insecticide.

The Punter suspects someone knew or guessed what was coming, but he was not in the loop, and missed out. BGT, however, is now firmly on his list.

  • The Punter has no financial qualifications and no links to the financial services industry. He owns shares in a number of companies featured in this column.
Aa

From the front page

Sponsored by