Trading halt, “pending the release of an announcement in relation to a material acquisition.”
Material Acquisition – I suspect this is certainly NOT a new high tech drilling rig! More likely an acquisition of something that is totally unrelated to the current line of business operations. I base that assumption on the number of RTOs the ASX has had over the past year or so, especially in the mining minnow dept. and the fact that Peter Wall has recently become involved.
If my assumption is correct then down the line, there will be a change of name, a statutory ‘compliance prospectus’ and possibly a capital raise to kick off the business.
The interesting aspect going forward is the share price! Given the new ASX rules, if a RTO occurs and the share price is above 2c, there will be no consolidation / dilution of exiting holdings!
Premature perhaps, but I am tipping BUR is going to morph into something very different, something that WILL generate a good income for the company and shareholders ……….. and all based on a starting share price of 2+ cents.
BUR Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
