Ann: Anticipated Impairment Charge , page-27

Let's not forget that the new NAV of 54c after today's announcement) includes a book value of $1.8Bn for DBCT.
A sale at $2.7Bn adds back $900M to the NAV which would mean a new post DBCT sale NAV of 88c.

BBI is not "safe" yet, but sell DBCT for anything above $2.4Bn and the future looks much brighter.
If that sale is executed, BEPPA are ridiculously cheap at anything under 30c in the dollar and probably still cheap at 50c. I think the strength of BEPPA in the market is a reflection of all the above. A keen buyer seems ravenous for any BEPPA when volume is offered. They obviously see what we see.
JB Were have been a big net BEPPA buyer over the last few weeks.