it wouldn't surprise me if there are a couple of indian/chinese steelmakers out there running the numbers on BWN right now, generating a game plan for implementation in the event that a favourable outcome is achieved from the next Experts report.
Potential outcomes are:
- another company stepping in now to take a strategic 10-15% stake. Some steelmakers are happy to hold small stakes just to secure future supply. A couple of $m may be a reasonable risk/reward punt. Risk being Bhushan take a long time to develop the assets, reward being a good position to negotiate offtake upon commissioning
- a potential suitor that values BWN at >$0.14 may commence taking a stake now in anticipation of a takeover reversal. It would be in their interest to buy the price up above $0.14 so that more shareholders take their shares back
- such a suitor, or a punting suitor, may start to hit up the options.
- I note that a couple of weeks ago there was an options buyer for 29 million options
- a strategic suitor would ramp the shares above $0.20 to get the options in the money so they get exercised - this would dilute Bhushan and increase the ease at which they can get a higher percentage stake
Beat the drum guys. Keep the share price up and the chances of another suitor emerging increases greatly.
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Last
66.0¢ |
Change
-0.025(3.65%) |
Mkt cap ! $188.5M |
Open | High | Low | Value | Volume |
66.0¢ | 66.0¢ | 66.0¢ | $9.287K | 14.07K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 42165 | 66.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
67.5¢ | 2949 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 40753 | 0.660 |
1 | 40000 | 0.650 |
1 | 48616 | 0.640 |
1 | 1588 | 0.630 |
2 | 1852 | 0.620 |
Price($) | Vol. | No. |
---|---|---|
0.675 | 2949 | 1 |
0.680 | 3 | 1 |
0.685 | 9854 | 3 |
0.690 | 19685 | 2 |
0.695 | 106132 | 4 |
Last trade - 10.10am 22/08/2024 (20 minute delay) ? |
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BWN (ASX) Chart |