You could be right, I think it could also be explained by a wall...

You could be right, I think it could also be explained by a wall built of holders converting options.

If you have shares and options at 4.2c it makes sense to convert them before the dividend date.

For every share at 4.2c, you could get 1.68X the options converted so without pocket expense, you increase your overall stock holding and in return your dividend, FOMO could have these peeps rushing to convert.

All of this, as stated, is just a guess/my opinion

For me, this is a no-brainer share with a massive dividend reducing the downside.This stock would have to drop below 3.5c for me to be at a loss and it is likely to go up quite a lot in the meantime. Low Risk, Heaps of Potential.

As for after Div date, this is a cash positive operation with a plenty of money in the bank to find a project or company worth buying.

I don't think that management have a plan to do nothing with BCN given they own 20% of it, but they also don't have to rush in and buy at the current market prices, they have years. Would be good if they pushed a presentation with a 5 Year plan for BCN to relight the market interest. I think with a moderately good clear plan for whats next would drive this SP over 8c, seems like all of the hesitation around here is longevity anxiety.