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Ann: Change in substantial holding from BCN, page-3

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MinaPlaya

2,968 Posts.

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26/11/14

12:20

Post #: 14355739
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Originally posted by mc117 ↑

The silence is deafening. And this is usually such a chatty thread!

A couple of things I find strange about the timing of this sell down.

First BCN has been there a while. They were there before the last CR and were holding when the SP was hitting 10c shortly after that. So why sell now in the low 5's?

Second BCN in their last quarterly claim to be hitting pay dirt, and seem to be cash flow positive (they generated $1m in the last quarter).

The total value of the BCN stake in CSD is only worth around $.7m, less than they generated in cash last quarter, and the overburden/waste ratio is supposed to be lower this quarter.

So what's going on?

Does anyone know how BCN came to hold the CSD stake? Do they have some connection with CSD management/owners?

Expand

Darryl Harris is the connection.
Darryl is a Director of CSD and was a Director of BCN (retired 19 March 2012)
Perhaps some one else can further enlighten ........

http://www.csdtin.com.au/board-of-directors/

BCN Price at posting: 0.3¢ Sentiment: None Disclosure: Not Held

CSD Price at posting: 5.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Ann: Change in substantial holding from BCN, page-3

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