BPT is an undervalued stock that is currently unloved and there are other example of stocks that are inversely loved that have zero fundamental value.
A year or so ago I offloaded NXS at $0.36. Today it is at $0.45 per share- would I like to go back in time and change my mind to have exited NXS? - absolutely not! NXS is bleeing cash, in the 2 years since the pull-out of a potential project partner it has failed to find another project backer, it has $300m in debt and cashflow which is barely enough to foot its interest bill. If you add NXS's debt to its market capitalisation it is broadly equivalent to BPT's. The NXS cash flow problem is evident by today's CR announcement. On the other hand BPT has strong cash flow, great resource growth opportunites, has a cash balance that many companies would kill for and a massive SP/NTA backing discount.
Sentiment can turn very quickly. As it has been pointed out, December is usually a good month for the BPT share price. I am excited about the coming 6 weeks which will include a visit to the BPT AGM by me.
BPT Price at posting:
64.2¢ Sentiment: Buy Disclosure: Held
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