it wouldn't surprise me if there are a couple of indian/chinese steelmakers out there running the numbers on BWN right now, generating a game plan for implementation in the event that a favourable outcome is achieved from the next Experts report.
Potential outcomes are:
- another company stepping in now to take a strategic 10-15% stake. Some steelmakers are happy to hold small stakes just to secure future supply. A couple of $m may be a reasonable risk/reward punt. Risk being Bhushan take a long time to develop the assets, reward being a good position to negotiate offtake upon commissioning
- a potential suitor that values BWN at >$0.14 may commence taking a stake now in anticipation of a takeover reversal. It would be in their interest to buy the price up above $0.14 so that more shareholders take their shares back
- such a suitor, or a punting suitor, may start to hit up the options.
- I note that a couple of weeks ago there was an options buyer for 29 million options
- a strategic suitor would ramp the shares above $0.20 to get the options in the money so they get exercised - this would dilute Bhushan and increase the ease at which they can get a higher percentage stake
Beat the drum guys. Keep the share price up and the chances of another suitor emerging increases greatly.
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Last
61.5¢ |
Change
0.005(0.82%) |
Mkt cap ! $169.2M |
Open | High | Low | Value | Volume |
60.0¢ | 61.5¢ | 59.5¢ | $197.3K | 328.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 21824 | 59.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
62.0¢ | 10247 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 21824 | 0.590 |
4 | 106379 | 0.580 |
1 | 869 | 0.575 |
2 | 1807 | 0.570 |
2 | 1100 | 0.560 |
Price($) | Vol. | No. |
---|---|---|
0.620 | 10247 | 1 |
0.625 | 1704 | 2 |
0.630 | 40737 | 2 |
0.635 | 10000 | 1 |
0.650 | 40000 | 1 |
Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
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