cloudstreet, right on the money. There are a number of...

cloudstreet, right on the money. There are a number of variables:

* number and price of BPH shares to be issued, probably 100,000,000 shares but could be a shortfall

* number and price of shares BPH take up in the book build for Advent. Could be between 1.25 - 1.75, BPH could get anything from 0 to 12,000,000 Advent shares

so no simple answer in regards to this, but I believe there will be a lot of excitement around the drilling prospect so the SP will rise significantly between 19 Nov - 8 Dec. This will possibly be the period when the OP moves up to Newcastle.

The main concern on this thread seems to be does any one want to be left holding the parcel in this game of pass the parcel without being able to trade for 3 weeks or have price clarity. I personally am happy to hold mostly because I am to lazy to trade my position. But as a new entry point I would choose GBA which is trading at a discount to MMR and BPH, to have a similar value of expose as BPH is trading (diluted and with 12 mil extra Advent shares), GBA would be about 0.71