Credit, ANZ will not be feeding this stock out on the market. It is too significant a stake in the company. ANZ have already said that they are providing for $50m loss against there Primebroker loans. Therefore ANZ will be eyeing BUL (and perhap a couple of others) off as a stock that could potentially help to minimise that loss. There are many suiters for such a significant stake in a company with unparalleled tenement holdings in a burgeoning industry.
My feeling is that this event will benefit the minor Shareholders of BUL in the medium term.
BUL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
