It's a dog eat dog world. OBL is the little fish here. Buru is the big fish. If they could have bought the whole Derby Block right now, they would have.
Buru have shown their hand - they want the Canning and every square meter they can get their hands on. It's only natural they have taken the best (and cheapest) blocks of land they could get their hands on first.
I would not percieve Buru's intention as trying to 'wait out' OBL and get the derby block for next to nothing down the track. If they could buy it now, they probably would. Trying to make a play right now for OBL (and hence all of the Derby block) would be overextending themselves and cause too much dilution (even for Buru). I wouldn't be suprised if OBL have already fielded and knocked back offers from Buru.
After this chomp, Buru will be satisfied and full for a while longer. I suspect they will be back though as they get further in their exploration campaign.
OBL is now the next smallest fish in the Canning (market cap wise). The longer OBL remains, the higher their price when Buru inevitably comes back to take the final bite of the Derby Block.
I own both Buru and OBL, I personally see more value in holding the company pulling the strings (Buru), but that is not to say the little fish in the Canning does not present massive shorter term upside as well.
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- looks like we got bru as partner in derby bloc
looks like we got bru as partner in derby bloc, page-38
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7 | 4311194 | 0.007 |
3 | 1629995 | 0.006 |
3 | 1700000 | 0.005 |
4 | 10625000 | 0.004 |
Price($) | Vol. | No. |
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0.010 | 1620902 | 4 |
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