Moring all,
Just thought some may be interested in the latest Potters coverage:
Update Potter coverage.pdf
Mention is made here of possible capital returns and being a takeover target. If $70m remained in the kitty at the time of a takeover i calculate around 20cps could be returned to sh.
Their valuation is 62cps (up from 56cps). David Coates is the analyst. He has covered BRB since the very early days of Bombora ... although this has never really helped his price targets be realised.
I have also gone back and read the NAV ann from 2009. It kind of feels like groundhog day.
I did a bit of research on Peter trying to work out if he would take on the MD job and settled on that not happening based on his resignation stating he " ... wanted to mentor younger mining executives and professionals" but having a read through the WGX threads from earlier this year, i'm not so sure. I'm also a little concerned as to comments about his ego and controlling personality. Hopefully we get some news on our new MD shortly as the choice will definitely impact our short to medium term direction.
One thing for sure though, as Tom is a substantial holder with 7.75% (25m+ shares) in BRB, he will still be required to report any changes in holdings until he drops below the 5% threshold. Something to watch for.
All the best,
Perdy
