No worries mate, haven't yet had a chance to look at the results in depth and am quite busy so probably won't until the weekend, just had a quick glance over the main points and listened to the briefing this morning, was worth it even just to confirm how stupid analysts can be, but it also provided a bit more useful information.
The investor pack is apparently coming soon which usually makes for easier reading and a more concise summary of the important issues. However, for now the presentation and particularly things like the debt maturities are handy resources.
It's now too late to do anything about SPARCS, but hopefully a positive announcement will raise the share price and minimise dilution. Following that, in my opinion management are attempting to pay down corporate debt through asset sales only as opposed to any form of restructure or capital raising, to maximise shareholder value. However, it's good to see that other alternatives are being investigated and the banks don't seem to be too restrictive.
All we can do now is wait and see what happens with DBCT and PD Ports, possibly even some debt refinancing in the not too distant future.
BBI Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
