banzai !, page-7

A great week for BJT with huge amounts of selling soaked up. Average price for the last 8 days was 18.8c for a turnover of 5.7% of issue.
1.2 % of issue traded on Friday, and looking at the volumes traded over the bottoming period, there should not be too much overhead volume unless another distressed seller emerges. I think this a little unlikely if the market keeps rising as this will take the pressure off the sellers.

Last reported underlying earnings of ~$64m, and of 10c pa.

I think there is a 95% certainty that BJT will acquire the MR from BNB (now in admin). So I think that a hefty dividend cut has been factored in due the MR cost, the Forex losses and the likelihood of accelerated debt repayment to reduce gearing in line with current industry practice.

No doubt when the announcement is made there will be a concerted effort to drive the SP down to scare out retail investors, but cash available, IMO it should be seen as a buying opportunity.

As can be seen from the graph, huge interest at 18c, so any pullbacks to 19c would appear to be buying opps.