tinkler and bwd

So Mr Tinkler, that extremely successful coal mining magnate says BWD is worth at least 30c per share. We know that because he is buying 96mn shares at that price.

The market seems to think he is wrong and pouts a price of 23c on BWD.

For once that usual adage - the market is always right - is, in this case wrong.

With Noble and Tinkler both holding 33.85% of the enlarged group (subject so shareholder approval) and with more than $30mn in cash on the balance sheet (post deal), I fear at 23c the market needs to visit an optician.

Good buying opportunity today for those of us who can a little further ahead than today's newspaper headlines about Europe.

I bought quite a lot of these today.

EB