To put into perspective, CEU has completed their road on budget,...

To put into perspective, CEU has completed their road on budget, 6 month ahead of schedule and sort of paying dividends with cash and debt. They built the road when Raw Materials was cheap and labour not as expensive yet their SP is about 30% down from their IPO.

Present comes BCS, they have not built anything yet, material and labour are relatively expensive, paying dividend with equity raise (this logic is beyond me as capital is expensive) and population of Brisbane is half the size of Melbourne. YTD their SP is down about 30% from their IPO (after including the other 2 placements).

BCS have so many uncertainties, and even if it was built on budget (which is still years away) the question is will it be profitable? If you buy the shares at 9 cents now you are under legal obligation to buy the other 2 placements at $1 each!!! Screw the dividends, they are using the equity you paid for in the first place. I’m not shorting this stock, just don’t want newbies to get burnt by this monstrosity created by Macquarie.