Yes that's great news they own 44%. They need to make some management changes. Some redundancies, cost restructures, an asset sale or two wouldn't hurt either. Plenty of $ value to unlock in the balance sheet and a restructure.
At 69c when it was $5.00 at beginning of year. This now is very attractive...with $250m in revenue and $45m EBITDA. Reducing debt smart. and now good coverage.
Cashing up smart. Stock should be well supported now. See a bounceback to $1.50+....soon...once the cap raise complete near week.
Valuation insanely low at 69c....was pushed down by a discounted cap raise on a bad market day. Alot was factored at $1.20 at 69c alot of ST upside with Twiggy on board and taking up the cap raise. It's all underwrited as well so funds are a lock. Could retake $1 next week.
BWX Price at posting:
67.5¢ Sentiment: Buy Disclosure: Held
