Buy depth is as bad as its been for a long time. The adage of...

Buy depth is as bad as its been for a long time. The adage of "we let the share price look after itself" might work with constant news flow and a rising market but when you position yourself as a "wealth creation by project profit" stock then you have to also have a share register and business model that will attract investors and BCN simply does not have this.

Dividend announcement will probably be a sugar hit and nothing else unfortunately, we've seen it too many times with the silver bullet delivering nothing as the status quo returns to minimal demand for BCN shares. Also a LOM announcement will probably only see small increases in company value as this stock is officially pigeon holed into a dark corner of the ASX - one of those shares that the numbers just don't make sense as the profit to company market cap is completely out of whack.

This is going to take a concerted effort by the board to devise an ongoing strategy to increase positive market sentiment towards BCN and from there shareholder wealth. Had hoped the board changes with Jason might see a change of direction but silence as usual. The board have now increased their remuneration to a more appropriate level which is more than fair given what they've built but now they must step up where they have obvious flaws and that's marketing their company.

Don't get me wrong, I'm not asking for unnecessary fluff announcements or any of that, just a board doing their job which includes finance, marketing and company development that leads to both sustained share price increase and profit returned to shareholders. I've been a long term supporter of the team even from the days of the 249D when they took control of the company, but they must evolve or step aside as it's 2021 and due to cheap money looking for a home this year will probably be the biggest year of investment returns this decade in nearly every asset class - shares, property etc.

It's time for BCN to make up for lost time.

Cheers,

Disco.