Nice little exert from Patto's latest coverage
"Investment in BRM is a binary proposition premised on it securing access to long-term rail and port infrastructure however should it succeed, it is cheap (1.5x FY14 EV/EBITDA, <5x PER, <5x PFCF) and there are numerous catalysts looming in 2H CY10 which will clarify the investment. BUY maintained, price target A$4.59/sh"
Looks like we are all betting on "black".
movement at the station, page-3
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