There appears to be an error in the change in substantial holding notice lodged by Birketu Pty Ltd.
Based on the stated new number of shares held, the new holding doesn't equate to 18.37% as stated, rather it would be about 16.86%.
If their new holding is in fact 18.37%, then Birketu would have to have bought about 7.69 million shares, rather than 1.297 million as they stated.
In any case, if the notice is at least correct about the average price paid, their purchase at an average price of $0.369 is an indication from a long standing substantial share holder with board representation, that they think that the shares are fair value, or possibly better than fair value, at that price. That may be all the more significant, as we are in the run up to the half year results.
If anyone is in a position to know what BSA is worth, they are.
It would be even more encouraging if they had actually bought 7.69m shares to take their holding to 18.37%.
Cheers
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