Im in at around 30c average. I bought with a 5-10 year view to hold because of their assets.
Given that 20% was recently sold for 40c/s, I think it is pretty indicative that it is just market conditions combined with two major negatives (ANZ and ODN) in a tough market.
They have plenty of cash in the bank. A bit early to start slamming the board considering how much it has changed after its cap raising, the margin loan scheme collapse and now a change in the farmin agreement with Odin. I do agree that the response to Odin was lame and the company deserves its current chare price if they are going to put out BS statements like that. Pretty obvious they wont be walking away with the $4.5m.
SF
BUL Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
