bnb news shows the danger in these situations, page-12

I spoke to my broker yesterday who received an internal ABN report saying that the revised analysts figures show BBI will have cash reserves of up to $300 million in the bank by Dec 09.

I don't post here often because i'm knee deep in other threads at the moment but being an accountant like Dargie have done detailed research on this stock.

1. we have very good interest cover. that will not change.
2. we have booked asset sales like Euroports which we see revaluations of some of our assets.
3. BBI mgt has internally disclosed Dalrymple bay is exceeding expectations.
4. i agree with Agent Cooper. The bad smell test has not followed BBI like BNB apart from death by association.
5. ALL BNB sattelites are all showing their separation from BNB. this is softening market sentiment that the sattelites will survive post BNB. except maybe BBP.
6. cutting dividends cleared out the bulk of insto's who buy these stocks for income streams.
7. any re-instatements of DIV which may be in time will cause a major turn around from an institutional level.
8. Comsec ABN and most of the other broking house have factored DIVs for 2009/10 at 10c
9. comsec has a book alue of some $1.38 on this thing. its a long way from $14c
10. add up how many negative risks you can prove verses current fact that postive events will effect major improvement to BBI Balance sheet.
11. management is not under heavy pressure like cnp, bnb, ozl, blahhh blahh blahh the list goes on.
12. accumulate while you still can.



Cheers
JD