great profit opportunity The institutional placement just...

great profit opportunity The institutional placement just completed by Greenwich resources is very important. Not just the price (which is about a 10% discount to the prevailing Greenwich shareprice as I expected) but also the very large size of the placement. 20 million pounds sterling is approx A$50m - about the same amount as BKA's entire market cap. I also note that the placement was materially more than the planned 15 million pounds.

The institutions have spoken - the new group is valued at atleast 35c per BKA share and 7.3c per DNS share, but they only trade at 28c and 5.6c respectively. Expect to see a rise towards the mid-high 30s for BKA once Greenwich shareholders confirm the deal (and there is every indication they will). At worst we will have to wait for the merger to be completed and a dual listing to allow us to sell our BKA shares on market i.e. April.

I managed to steal some DNS today for only 4.9c. Sweet. Still have 2/3 of my bet on this takeover on BKA, however, as DNS can be very illiquid.