Having sold a few last week, I am even more comfortable with the "long-term" story now. The way I see it, I can only win. If the SP falls then I can buy back in, if it rises, then I have plenty left to see how far it goes.
I would certainly feel more bullish if the Directors were buying rather than selling, but if there is a takeover in the wings, then perhaps they aren't too concerned with BRM's long-term future.
The extra assets (ie Duck Creek, Opthalmia, Mt Florence) are the X factor for a potential acquirer. That said, $4 is a great return for shareholders, and last week was the first time any of them could have sold a decent amount at that price.
Need to be careful when comparing to BRM to UMC as the capital costs for BRM are significantly higher... and we are yet to hear anything as to where that cash might be coming from.
BRM Price at posting:
$4.00 Sentiment: Buy Disclosure: Held
