BRM - New Warrant Issue for Barramundi

[Basil]

She's very cool. Nah mate, just out enjoying my boat.

[Basil]

Nav @ ASX close today by my spreadsheet estimate = 77.6 cps

[Toddy]

Thanks. There is alot of action during the reporting season. So it's too easy to focus on the negative results as there have been a few shockers.

[winner (n)]

Wisetech great update ...share price on fire

Should boost NAV .....like 7% of portfolio and share price up  12% is ??        

[Toddy]

Looking like a promising day.

[Basil]

Lot of big price movements today.  Some good, some not so good but without further ado my spreadsheet at estimate at close of ASX today suggests NAV is 77.97 cps, almost 78 cents !   A reminder, my spreadsheet does not account for exchange rates differences in the past week, or portfolio movements since their last publicly stated portfolio allocation or performance fee accrual so the actual NAV to be reported tomorrow will be slightly different.  Last weeks reported NAV was 75.69 cents so its been a very good week with NAV up an estimated 2.28 cps.

[snapiti]

Lot of big price movements today.  Some good, some not so good but without further ado my spreadsheet at estimate at close of ASX today suggests NAV is 77.97 cps, almost 78 cents !   A reminder, my spreadsheet does not account for exchange rates differences in the past week, or portfolio movements since their last publicly stated portfolio allocation or performance fee accrual so the actual NAV to be reported tomorrow will be slightly different.  Last weeks reported NAV was 75.69 cents so its been a very good week with NAV up an estimated 2.28 cps.

thanks for the regular updates Basil......I have a boat load of these

[Toddy]

I've bought my 50,000 warrants back that I sold last week. Cost me the brokerage.

What was I thinking.....

[Basil]

An exceptional buying opportunity with the NAV at ~ 78 cents and likely exercise price only 63 cents 8 months from now.

[Basil]

https://www.jardendirect.co.nz/app/news/urn:dt:6621245

77.78 cps NAV.  About 0.2 cps lower than my estimate which makes sense as they are currently accruing a 10% performance fee in the NAV and its up 2 cents in the last week so that explains the 0.2 cps difference to my estimate.   It's easy enough to adjust for the performance fee in my future NAV estimate calculations so I have updated my model accordingly to make it more accurate.

[Dolcile]

An exceptional buying opportunity with the NAV at ~ 78 cents and likely exercise price only 63 cents 8 months from now.

So are you saying 7c for a warrant plus 63c to convert.   Versus current price or 73c?

[Basil]

So are you saying 7c for a warrant plus 63c to convert.   Versus current price or 73c?

Yes but its 7.5 cps now.  Sounds too good to be true eh considering that 63 cents isn't payable until 25 October.  Keep in mind that there are 2 more quarterly dividends for BRM between now and then, plus the one just announced payable 28 March.  For what it's worth, I have a very large holding in both the shares and warrants.   P.S. Daily NAV at ASX close today is unchanged at 77.78 cps. 

[Basil]

NAV @ ASX close today by my spreadsheet calculation after adjusting for performance fee accrual = 78.01 cps

[winner (n)]

Low 6's the other day .......now 8.5

WOW

[Basil]

NAV @ ASX close today by my spreadsheet calculation after adjusting for performance fee accrual = 78.23 cps