BAL price target $12, page-278

RIO spent $38b on buying Alcan. Its called the worst mining deal ever. RIO survived by getting into bet with Chinalco. It was almost game over for RIO but it survived.

BHP had to write off $10b on its US onshore assets last year. Westpac almost went under in the 90's.

Management teams of large companies do not get it right all the time. They make mistakes and it results in billion dollars losses for investors. We just tend to forget things so quickly.

BAL management team also stuffed up. It is not the only company to do so. It is not over yet for BAL. It is actually nowhere near to game over for BAL yet. There is so much potential in the company's product. BAL management only needs time and it will turnaround and will be a market darling once again.

I completely back the BAL board and will be voting at the EGM. All my votes, family members, friends, super funds etc add up to a few hundred thousand and we all will vote in favor of the current board.

Phoenix obtains new life by arising from the ashes of its predecessor.