GREY:BNKPF - Post by User
Comment by
xmasteron Oct 22, 2016 10:59am
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Post# 25374067
RE:RE:RE:RE:RE:RE:BNK is removed from his latest project in Spain
RE:RE:RE:RE:RE:RE:BNK is removed from his latest project in Spainwittman....I increased my position by 42% to catch up with dilution. In line with your assumption about demand and also the fact that this stock has not participated in recent run up in oil.
Now price target calculation:
if you go to stockcharts.com and create relative price graph of bkx to iae then you will see that bkx had been trading at about 50% of IAE value. and IAE is right now at 1.5 so this had potential to see 75 cents prior to dilution. now with diluation if i reduce it by 42% then potential now is 52.8 cents based on what is proven. ofcourse there is no europe so maybe say we have potential to see atleast 40 cents with some news flow.
This did hit 40s just few months ago and the way this company survived you have to give it to management that they did hedge well. Market simply did not reward it well for that.
At this point I am heavily invested in this stock with about 48k shares at 44 cents average price.