meerkat is right...blr is hypothetical, page-2

that statement to be fair is premature at this stage..
what is true to say is that they seem to be leveraging historic activity-be it Taylor or Heggarty's..
that being said there is so much hot money out there-it seems to be slightly more rational to buy scrip in backing the possibility of finding the 'next PDN' ..than buying Lotto tickets...so the BLR's of this world are rationally taking advantage of the 'boom'-its v.cheap capital ..
The crucial issue in this current climate is to minimize the risk as much as one can whilst having an option on the blue sky'...and that is where management and their track record is the only thing that really counts- and that is why i am so negative on BLR- i could give you fifteen reasons why that dont shape up from a risk management perspective based on the criteria that i use to assess risk in what is par excellence a risky business at best...make your choices spend your money..good luck to all in this once in a 50 year opportunity