bit more info in the qrtly -european stuff looking promising but I guess the australian rump will need some cash soon so they will be looking at offloading a fairly illiquid type holding of the euro shares!
need some independent directors!! that is one reason why i didnt buy a heap of these shares - besides the fact we didnt know how many shares would stay in oz - as it is it is a fair few that stayed - 25% when it could have been as few as 12% - if there was a lot of publicity about the buru royalty then it might have been as much as 40%!
i did get scared also when i heard they were renegotiating due to mitsubishi farmin! still ongoing - but as a very rough guide look at market cap of buru and take 2% of it and you still come up with a fair few dollars ( plus we dont have the cap expenditure that buru will have to put in )- plus we have the euro shares!
all in all an interesting situation - a bit of an option play on buru's prospects i did sell a few at 28c on friday, but i am not saying there is still not value for the buyers
EPG Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
