Been watching the lonely 1500 shares at 79c to buy sit there while nearly 100000 shares have traded at 80c snipped bit by bit. It is interesting today. Some taking advantage of the liquidity in the stock that is always lacking as an opportunity to get out with others taking the opportunity, me included to buy some more at 80c. I admit this is still a gamble at the 80c compared to the 60's where it could return but If there is some positive steps forward and bear in mind first time in nearly a quarter century that they have all sat at the same table to talk then the gamble will be worth it. I like to think of it this way. Max downward risk 15% - a return in to the high 60s max upward gain - 100 % - a share price around 1.60 with some minor positive news that all parties are genuinely trying to get a deal done.
I say that is about 6 or 7 to 1 risk reward.
What are the chances of this news filtering through with the following conditions. ONeill/Namah Govt - NO SOMARE - Check JSB Meeting upcoming with a Commitment from O'Neill to be there I am guessing with Namah after elections through - Check The recent Panguna Landowners meeting with BOC Representative - Check Then Things of the past - Fixing Arawa Airport - Check Radio - Check Infrastructure - Check Relationship between O'Neill and Peter Taylor chairman of BOC good (Remember O'Neill was flanked by Peter Taylor in a trip to Canberra Last year) - Check
I think odds might be even money.
A good bet at 6 or 7 to 1 I am thinking!
BOC Price at posting:
80.0¢ Sentiment: LT Buy Disclosure: Held
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