Re sale of assets so far they have had a focus on selling assets under construction rather than "good assets". Thus whilst I would agree that Kwinana represented a good asset, the same could not be said of say Tamar. Think we also need to be mindfull that their assets are in different "buckets" depending upon the debt facilities.
What a lot of people are not factoring is the reducing interest rates and the corresponding cost to close interest rate swaps. They are out of pocket $200m since June and perhaps have another $100m before closing their strategic transaction. this equates to 40 cents per share gone.
The headwinds are unrelenting. Notwithstanding this I still believe that there is certainly value at current share price, but time will tell. Thankfully not too long!
BBP Price at posting:
5.6¢ Sentiment: ST Buy Disclosure: Held
