BRN (ASX) Go Team BRN

Originally posted by cafa ↑

Mr SV,
'The problem with your posts and most ramp posts are that they are theories (I've posted theories in the past)... they are hypothetical situations.. We both don't really know what they're intentions are... what and why they are doing things..'

Yes, I agree that the vast majority of posts are pure speculation, some more than others. And so the only 'facts' are what can be shown to be true.

A) they went into the CR without underwriting - fact. Why, is speculation but most experienced SM operators, including a few of the savvy traders on BRN, would have question this as pretty risky.

B) BRN senior management and large holders have never given any commitment to take up 100% of their allocation - fact. Why, is again speculation but most experienced traders and operators would see this as a red flag.

C) Peter with his very substantial holding did not partake - fact. As has been discussed he could have had his holdings registered to an Aussie address in the weeks prior to the CR. He did not. Why, is let more speculation and, yes again, the eperinced operators would see this a red flag.

D) The original offer end date was extended - fact. We are told due to Anzac day and Australia Post taking several days. Both of these events are in the PD so should be considered as fact. Why the management and their advisors did not consider these matters is pure speculation. What we can reasonably assume is that as at last Friday the offer was well under water. Why it experienced such a low uptake when the overwhelming majority of shares are owned by an 'inner circle' would suggest some doubt within the ranks.

E) Half way through the extension period we get an ANN to say that about 50% of the offer is now underwritten at 6% fee - fact. Why such an exact amount is speculation, but it is rather unusual situation. Is the amount the current shortfall, or less than the current shortfall. Or is it to cover some of the commitments that have still not been made good. It is reasonable to assume that BRN would not waste precious SH funds on paying for underwriting when they had the $ in the bank. So it is reasonable to assume that at the original offer date less than half had been taken up.

I understand that for existing SH and especially those who have already paid for shares in the CR, the above is unpalatable and that I and a few others who dare to question the management team will be subject to the usual barrage of personal attacks from the usual mob.

I'll repeat my view. If the underwriters end up with a packet of shares then they will dump them pretty fast.

When the CR was first announced, I with some prescient ability, suggested that the SP would possible drift towards the offer price and that would put the CR under pressure. I got attacked for those view.

Maybe some of the newbies will at least sit back and consider which posters they should at least view with an open mind, and which are vested interest rampers and underwater short term investors who are a little naive if the ways that traders will manipulate them.

Expand

Still, you don't know why or what their intent is. You're suggesting that management is inexperienced and just forgot. There's folks like Bolto and Rinaldi, MZ group and the other parties they're working with who have decades worth of experience. I understand your concerns I just think still, and as you say yourself, the intent behind them is speculation. I can see your point about this being pumped and then dumped by the underwriters, IMO this could happen however you never know what's going to happen with BRN. Maybe a big ann is due? Maybe not?

No.	Vol.	Price($)
25	1703112	20.0¢

No.

Vol.

Price($)

1703112

20.0¢

Price($)	Vol.	No.
20.5¢	337767	11

Price($)

Vol.

No.

20.5¢

337767

No.	Vol.	Price($)
23	1701462	0.200
29	1742341	0.195
41	2495336	0.190
56	2025692	0.185
52	1700506	0.180

No.

Vol.

Price($)

1701462

0.200

1742341

0.195

2495336

0.190

2025692

0.185

1700506

0.180

Price($)	Vol.	No.
0.205	287767	10
0.210	1086800	22
0.215	386124	10
0.220	840888	24
0.225	379731	8

Price($)

Vol.

No.

0.205

287767

0.210

1086800

0.215

386124

0.220

840888

0.225

379731

(20min delay)
Last 20.5¢		Change 0.005(2.50%)		Mkt cap ! $380.4M

Open	High	Low	Value	Volume
20.0¢	21.0¢	20.0¢	$597.7K	2.928M

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