Yeah. 7.5c a share right now is not bad. I play resource stocks where there's always a risk of losing 30% to 100% in a week and NO 10% unfranked divvie. To me, the risk of BBI going teats up and blowing all my 87c a share buy ins is acceptable; if I get 7.5c back, I am de-risked 10%. Give it 6 months, and I'm de-risked 20% - and so on - or give it a bit of clarity in 4 months on BNB's apparent market cap debt review, and I'll be either 90% down, or 100% happy.
Thats not what you can say about a lot of speccy resource stocks.
Personally I think this BNB thing, and CNP etc is the biggest load of bollocks ever. The banks can't afford to cripple BNB and CNP and declare a default. If a bank cops a $1B write-down on CNP it's going to suffer a $5B drop in market cap. Much better for the reviews and extensions to go on forever and ever and the write-downs never happen, and everyone comes out smelling of roses.
Each to his own.
BBI Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
