Well I have sold off all my stock, I was positive for a while, but I have to concede to what Melua has been saying. Reading more about this company it worries me. And while some might want to gamble I feel that in the power industry innovation such as what we have just seen recently from CFU and Brumby's talk on CFU is going to be a much bigger pay off.
BHP/RIO I think will show signs of maybe a demand slowdown, so for BBP maybe that is less cash in the bank with less power demand. Sounds strange, but China seems to be now stock piling iron ore, not using it, their steel production has dropped from about 600 million tons to 400 million tons per year. And the new 58c ore prices are really low, it shows signs these companies will slow down.
Not sure how this affects BBP power supply demand but I am sure that once the Chinese have reached max stock piles of iron ore those recourse companies will slow right down and demand for power will drop off.
I was hoping that more people would jump into BBP, but seems its just GPG. That starts to give me the feeling they will try to strip off assets or, worse BBP will implode.
Anyhow, good luck all.
Well I have sold off all my stock, I was positive for a while,...
Add to My Watchlist
What is My Watchlist?