Australia's largest stock trading and investment forum Australia's #1 stock forum

BIG burrendong minerals limited - withdrawn

0.00%

$2.22

Ann: Company appointment of new Chairman, page-165

Currently unlisted. Proposed listing date: WITHDRAWN

First 165 Last

Share
Profile

Follow
Moneyonmymind

144 Posts.

51

23/03/18

07:20

Post #: 31967686
Share

Originally posted by BeerBaron ↑

Well, I'm not as enthusiastic as some posters here, although it's good to read some more upbeat posts (iamagenius, really? lol, please take your meds). A few things I am looking for/anticipating (my view only):

(1) Some action by ASIC. I rather think it is unlikely after such a long period there will be zero from ASIC. How serious it will be is a complete unknown at his stage. Hopefully any investigation is drawing to a conclusion but we really don't know.

(2) Reissuing of finances. I cannot make a judgement on investment in BIG until I have seen all restated accounts. You can also expect that costs will have risen dramatically this quarter. I strongly suspect that lawyers, accountants and directors need paying, and by raising the bar significantly on transparency and probity (correctly in my view) this will cost. It will also take time.

(3) I'd like to see another independent director appointed, preferably an Australian. My opinion.

(4) A clarification on the rather strange reporting by AFR that the JV with TIG did not go ahead. This is especially confusing because there are numerous indications - including actual product releases and statements by TIG - that indicate that it did go ahead. Reportedly the AFR article on this has has also gone missing.

(5) An update from BIG on operations, employee hiring, customer numbers, customer retention, etc. I think this will be good news.

(6) I am expecting at least another twelve months of extremely negative and irrelevant reporting from the AFR on BIG. In my view this will negatively affect the share price of BIG on a regular basis.

(7) I'd like to see the extremely high issuance of shares to cease, and ideally some of the more outrageous to be rescinded (or cash paid in lieu - ie if the shares were issued at $0.15 for example then a cash payment made based upon that valuation). This is my personal preference, I'm not saying it's likely but if it does occur it will lead to a dramatic increase in shareholder trust and consequently share price.

There's a long way to go. Let's be prepared for the worst but hope for the best.

In the meantime, I am having very little patience for tin foil wearing conspiracy theorists coming here and making categorically untrue statements. I will call them out on it. I suggest you do as well. Don't get emotional, just ask them to state exactly what they mean and how it would affect BIG, or just state the facts and move on. The ignore button is also helpful.

Posts about share price being $0.00 or $10.00 are meaningless but since we are in a fact free zone there's not much you can do about it. Just ignore it. When the accounts are restated we can then share our views of them based upon...

Just the facts, please.

Expand

I agree we can’t dismiss the things that did not add up...but the sky is bluer than all the days before.
I am also concerned that the ASX hold will result in a percentage of the ASX avoiding the stock for an ongoing period of time ...simply because of the bad press and the talk around town. How long AFR keep up their attack is an unknown, we don’t know who may be behind it. We need to keep it real to enjoy the surprise on opening and be prepared for more distancing and attacks from whoever they are...But the skies are so much bluer today, I just don’t want to feel disappointed...the past month has been hell for us.Keep it real and expectations real.

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
6 Upvote

1 Great analysis

Reply

Top Stories

TLX

Telix sinks as US regulator SEC issues subpoena over claims

Wednesday's HotCopper trends: Race RC220 doses, West Mits Qala study | July 23

Japan tariff deal inked at 15% – as long as US gets half a trillion of investment

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

SYR

Syrah jumps as Mozambique force majeure lifted

First 165 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.