How I see it is that BCN bought PNRs 19.8% share of MXR as PNR needed the cash and BCN saw an opportunity for a deal between the 2 companies. But then when Lady Ida went through, the MXR land wasn't going to make them money or maybe the AAR deal has been on the table for a while and Colin helped to facilitate that to go through. I don't see any negative with Colin buying into BCN. He must see value at anything around 2.2 - 2.4c. Lucky someone's doing some buying!! Not sure what's going to happen to AAR. Maybe they will build a plant. In which case they will need to raise money. Or maybe the plan was to consolidate that area for a sale to someone else. But it does look like BCN and Colin have come out nicely ahead so far. Just depends what happens to AAR as to whether it will be a short term investment (sell out for a profit) or long term investment (they will need to raise money to build the plant) for them both.
BCN Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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