The sp moved north significantly on the back of the Mines Sky news piece, usual industry general puff that Mines does every few years and lots of hopeful people think it is the pre-cursor to news of a contract etc
Then no contracts are announced - so far so usual
The difference is that they took the sp up on very, very little volume and certainly no big buying.
Then the expected fall back as people realised it was the standard BIOM failure to come through with anything to back up the talk.
However, it has tried to move back up and is hovering in a better place than a year ago but it does all look very contrived to me. Very small volume for the 100% rise it has had.
Gives the impresssion that the MM's feel overdue some activity on it and are holding it up where it is to try and pull in a few more before the usual drift back down.
...or it could be that the next results will show something has been going on. Best of luck to all holders as they are well overdue some better fortune.
[The cynic inside me thinks this rise will turn out to have been more about Mines preparing for a new fund raiser and wanting to get some interest and hope going. He only ever comes out of his hiding place to promote BIOM [or actually talk about the industry rather than any biom products or contracts] if he needs to shore up his disproportionately large income]
Share price now steadying up and rising-all on a Friday !.
Huge coffee cup potential in the millions or billions-lets hope some news soon-should be, and when it does-whoosh.You'll be drinking champagne instead of Gregs Coffee.
As I understand it, if the sp rises well over an ordinary percentage then a RNS should be released within a reasonable time, according to LSE that should be within 36 hours or sooner, even as you rightly say the company does not know a reason.
With the increases over the last few days, either info of a large contract has leaked out or people are buying on rumour.
Whichever it is, Biome have a statutory duty to inform the markets.
Whilst a persistent negative poster regarding Biome, with what I always believe to be justification, I am pleased for those still invested that the sp has rocketed. I just hope for their sake it is backed up with a sustainable news release.
Biome is only valued at just over £3million so is a tiddler,
Just add up all the coffee cups used each day and the potentiall here is really huge.
They have been working for some time with various companies to get the product perfect and the possibility for very large orders is imminent. If they get it right the share price wont stay at this level for long. I'm in.
Could even be bought out by one of the big cup makers.
If you google 100% bio coffee cup and lid......there seems to be some out there already, as for the sp rise, think its just the broker trying to drum up some sales and last but not least... I dont know why we had the rise today because I have found that this anouncement was mentioned in the evening standard last week.
Still low volume for an average AIM company (although not for Biome) and yet the sp is up 25%. There has to have been a large volume buyer in the background. What's the betting that a significant delayed trade appears either after hours or tomorrow.
As I understand it a large coffee chain has approached Biome as they had heard that they had a large surplus stock of bio-degradable coffee cups and they would pay a few quid to take them off their hands (a sort of Del Boy deal).
When the sole biome salesman went into the store cupboard it appears that the said coffee cups had been in there so long they had bio-degraded to oblivion (so they do work).
But on a serious note...Surely as the SP has risen 25% plus the company have a duty under AIM rules to release any know reason why, otherwise if it is all a rise on rumour, then someone will be making loads of money whilst many buying today will end up far poorer.
I imagine whoever was producing the news article googled bio plastics, found Biome and contacted Mines.
'Hello Mr Mines, are you free to do an interview on recycle able coffee pods ?'
'Well, I have a few rounds of golf booked with my mate Standen but I suppose I could find time in my busy schedule, I also have to issue an annual statement but I can just copy and paste last years and change the dates, oh and make up a new excuse why we are still losing money (but inline with expectations snigger)'
'Ok, let's carry on....tell me about your biodegradable coffee pods'
'Well, the product was announced a few years ago, since then several companies have beaten us to market, we haven't sold any yet as it costs us more to make them than we can sell them for, but we can always say it's a new product if I'm going to be on telly'
Mines was on the News this weekend touting the coffee cup as mentioned, I saw the article. I think it was an ITV on plastics, I was pleased to see they had some exposure at least. Hopefully, they can capitalise on this and push the company forward, having this airtime must be good for the share price?? But word of warning to the ignorant, this company promises lots and lots and tell us all about jam tomorrow. I hope they can just get the returns they promised for years to us, the long, long, long suffering shareholders.....!!!!!!
Coffee cups, lids and pods that use these bioplastics can all be recycled in the established paper recycling stream. They can also be composted along with residual coffee grinds, as Biome Bioplastics materials can degrade to prescribed international standards in composting environments.
I am almost certain that Biome were touting that they had such a product months if not a couple of years ago, but as is always with Biome nothing has been heard since.
Remember years ago they had those bio-degradable food containers and wraps (forgot what they were called its so long ago) and all those companies interested (Asda the biggest one) and again never an update.
Will believe it when someone buys it.
I see on the Sky news app that Biom have developed a 100% bio coffee cup and lid.....it would have been nice if the bod had mentioned this here first. It has it's falts as its only bio if composted, but credit where credit is due. Now, as to wether this new product will increase it's cash pile or just continue to eat away at it, is the big question. Going by it's history, not long till Biom go bust...lol
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