Dargie is saying that 50c is unlikely because of the fear of dilution by Beppa conversion... the catch 22 situation (dear I say death spiral).
The only way to alleviate the fear is for there to be a real chance of BBI being able to prevent the conversion. IMO they do this by ... 1) Buying back as much Beppa as they can below $1.10ish 2) Attempting a restructure 3) Selling more assets to free up cash and make banks more comfortable.
Strangely, I think Dargie is entirely correct about the BBI price being held below 50c while Beppa conversion is a threat. Beppa is the place to be right now, no question for me.
BBI Price at posting:
7.6¢ Sentiment: LT Buy Disclosure: Held
