BBP will most likely be trading at the 8-12 cent range until we hear some news. Happy to hold medium-long term and see how this will pan out in 3-6 months time. Although I may have missed my chance to realised some profits, I’m more comfortable to hold rather than miss the boat of a potential take-over.
BNB appears to be in a very dire position, I think they are almost to a point where they are willing to negotiate on giving up their management rights and 10% holdings on BBP just to get their 400m loan back. As long as BBP have sufficient working capital to weather the storm and hold on a little longer we will reap the rewards.
BBP is paying about 8.5% on their debt, this is high as they don’t have a good credit rating. A company with AAA rating will be able to rollover this debt to a much lower rate. We should have a better indication on asset sales in 2 more weeks. GL all and god bless.
BBP Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
