BBX (ASX) Bbx plummets

Originally posted by sydneyguy: ↑

Midnight , Drake was the “ tightly held”” smart money” the cornerstone of many of these threads - I think you’ll Agree that anyone asking about this company was probably told if drake were in there, they know what they are doing more than anyone questioning the business .

That aside - they gifted almost 50 percent of the company to a charity - 196,250,000 shares ! In what some claim ( I think it’s fair to say yourself included from your posts) the worlds largest gold deposit - gifted for a once off up to 30 percent tax deduction ,that’s not good for those left on the register imo

Unless it’s some sort of charity that loves investing- I’m sure they it can’t continue thier good works with non income
Producing share certificates-they need cash

I’d be very worried about a monster overhang of the stock- if it’s transferred from polar opposites , the tightly held smart money owning the majority to the biggest gold deposit in earth to the , i got them for free and need cash for my charity causes—

I suspect they will continue to sell them to raise as much cash as they can at the continual expense of holders

I guess if you had a capital gain and there was no liquidity and you wanted out - what an ingenious was to realise the profit off market- take it off your tax bill—-seems like a smart move by them to exit quickly at fair value

Anyway- if that’s the case I’d be cautious putting in a bid or holding until they had sold thier free shares and seriously questioning , why drake would sell almost 50 percent in what some ( including yourself)claim to be the biggest gold deposion in planet earth for a once off tax deduction.

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Im not 100% on this but I think you'll find Drake own's the charity. Get it? Its a tax deduction within their own company. They still own the holding as such. Its bloody smart if you ask me. They'll end up pay much less tax now and probably make an extra 10-20% thru tax savings.

Bbx plummets, page-19