Well look like D-Day has come, imo news does not look good, but if I was the CEO of BBP I would also tone down my announcements as we have been disappointed in the past when BBP promise the world but deliver very little.
They are probably still in the process of asset sales but requires more time to command a better position of bargaining as buyers is fully aware of the fact that BBP is in a dire situation.
IMOL -Trading halt will not be lifted on Friday and most likely will use the weekend for further planning. -Banks to eventually extend more time at extremely unfavourable terms for BBP. BBP will then announcement progress on asset sales to calm holders. -BBP will then use the time to finalized sale, if it doesn’t happen then it’s best to sell some of your holdings.
Risk and rewards play, let’s hope its good news.
BBP Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
