Well our white knight, as some wag dubbed him, has been knocked off his horse. That outrageous blog of his after he persuaded the takeovers panel (who are obviously not geologists) to force a revaluation, has failed and he would have been better off sticking to promoting shares, which he would do brilliantly. The new preferred coal valuation is actually less than that of Minnelex by $1.2 million. We now know who the suckers were -- those who bought the 4 million options that rose rapidly in price after the white knight blog. That blog incidentally, contravened the Hot Copper rules and also Valmin which clearly states that technical assessments of Exploration Areas must not be undertaken without the involvement and written consent of a geologist. I did not intend to write another blog as I sensed I was about to be vilified for apparently supporting the Minnelex position, which brings to mind Warren Buffet’s comment ‘A public opinion poll is no substitute for thought’. If someone disagrees with your position it's just possible they could be right and you wrong. Bowen Energy was a great blue sky project, worth a punt in the early days but destroyed as are many, when the drills went in and determined the truth.
BWN Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
