As it appears DB is going to be spending the next few months fighting his former directors in MMR I doubt little work will be done on any of the companies he is involved with. Not that he has done much work to increase shareholder value over the last 5-6 years. Perhaps the shareholders of the other companies DB is holding back should review his value to them as a director.
At the very least I feel whilst all this in-fighting is going on DB should take a leaf out of the book from the current MMR board and forgo his director fees or reduce them to the nominal $1.00 PA to show some good will.
It’s just my opinion but given the current share price of BPH and the up-coming 100% dilution by way of the Non-Renounceable Issue I certainly feel the current shareholders would have the right to review the stewardship of their company. Possibly if DB could forgo his fees the dilution may not be necessary.
I was once one of the larger shareholders in BUY and have held shares in the DB group in fact I still retain a certificate for some 5,314,626 shares in Molecular Discovery Systems Ltd on the cusp of great things back in January 2010 but still worthless.
2010 was also the year Mr David Breeze talked so enthusiastically about the Bonanza gas field he was going to discover on the PEP-11 lease; however, it would appear that a single $20M hole proving to be duster has dampened his enthusiasm. That I feel is something of a pity particularly given a Sydney Morning Herald news item I read last year because if there is a commercial gas field so close to the shore and current infrastructure now would be a great time to exploit it. I’m sure the current mining work force of the Hunter valley would appreciate the jobs in a new clean green industry with a ready market for the product.
“Many of Australia's coal-fired power stations will shut in coming years no matter what the government does, but a national plan will be needed to ensure the lights stay on and price rises are limited while they are replaced with cleaner models, Labor and the Greens say.”
Please note these are just my personal thoughts on the situation shared in good faith and certainly not to be taken as financial advice.
I wish the current shareholders good luck.
Note to HC moderators: No doubt you will receive a complaint about this post; however, I will point out that this is just my honest opinion and that all the above facts are indeed true and can be verified.
Cheers and very best regards: Andy
BPH Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
(20min delay)
