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73.5¢ bathurst resources limited.

Agree with most of that IJ but I don't believe now is the time...

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viney402

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08/08/19

14:09

Post #: 39924886
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Originally posted by investor_jackson: ↑

I think there is a few nerves about the court case, volumes have picked up recently and this time there is no buy back to support them, and BRL (on the whole) is a fairly illumined stock... I am pretty surprised the share price is down 20% in the past less than 2 weeks (given the initial point of 12.5 cents was already pretty low)... all this in the face of a record year for BRL, and solid (pretty conservative) guidance for FY20... maybe a share price under 10c - a fresh 52 week low, and in fact over 2 year low - will finally provoke a bit more action from management around communicating a strategy around this court case, payments (for crown mountain and the court case), dividends (if any) etc... as it is clearly causing nervousness.

Ironically, when running the numbers (like I have done) one can conclude pretty easily that BRL will be able to pay $70m NZD AND fund crown mountain (both payments ultimately being 6 months or more away), probably without raising equity...

It seems nobody has remembered a key clause in the original contract to buy Stockton... the contingent payment structure is based on a sliding scale share of actual coal sales revenue from the Stockton Mine, subject to Metallurgical Coal prices being above certain thresholds, and are only made if Metallurgical Coal prices are above NZ$150 per tonne. So the full impact of coal prices decreasing will not be exactly correlated to reducing BRL's profit, as less payments to solid energy receives (ie expenses) will be inured, helping to maintain margin on the way down (of course this would happen if coal prices go below $150 NZD which is fairly unlikely, even with the worst outlooks!)

This panic selling has yielded the best time to jump into BRL at the lowest price in over 2 years, but I can understand the nervousness behind such selling. Interesting, if not crazy, times.

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Agree with most of that IJ but I don't believe now is the time to jump on board.

The time to jump on board will be when Management show that they are ready to involve the market in their communications.

BRL Price at posting: 10.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 73.5¢		Change 0.000(0.00%)		Mkt cap ! $140.6M

Open	High	Low	Value	Volume
73.5¢	74.0¢	72.0¢	$31.14K	42.51K

Buyers (Bids)

No.	Vol.	Price($)
1	7500	73.0¢

Sellers (Offers)

Price($)	Vol.	No.
74.0¢	5996	1

View Market Depth

No.	Vol.	Price($)
1	25	0.650
0	0	0.000
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.740	5996	1
0.750	26666	1
0.790	50000	1
0.800	28279	1
0.815	6538	1

Last trade - 15.45pm 30/08/2024 (20 minute delay)

BRL (ASX) Chart

Agree with most of that IJ but I don't believe now is the time...

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

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Agree with most of that IJ but I don't believe now is the time...

Top Stories

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

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Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

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