That is good. Wider distribution than I thought. That should help BLT cashflow
Up another 25% this morning...
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That is good. Wider distribution than I thought. That should help BLT cashflow
Up another 25% this morning...
A few reasons SP may be increasing
- 63% of existing shareholders being told to buy more shares by March or be removed from the register
- low number of shares on offer (classic supply and demand situation, even if some of the 'demand' is being coerced via the letter to shareholders)
- hype around local innovative companies (DIL, PEB etc) possibly rubbing off on BLT
- increased focus on share investment after the New year's 'broker picks' and more people looking into stocks
- for a long time, BLT has been written off by a large part of the investment community due to an absence of profitability. Despite this, the company has continued with its strategy and has made great progress in terms of commercialising their IP, developing new products and generating revenue. I think a few people who had ignored BLT are now opening their eyes to the possibility that this could actually be quite big.
- a lot of people will have seen the likes of ATM or PEB or DIL or even XRO tread water at a low market cap and then take off, and then thought "I wish I had got some when they were 'cheap'". Maybe this is a case of new investors wanting to get in on a future winner
- there are not many companies you can buy for sub-$20mil that have the proven product and commercial prospects of BLT.
- there are a number of factors that could cause the shareprice to lift dramatically (Nestle announcement, takeover, Q24 release, profitability etc). Very speculative as to when these milestones will hit, so people wanting to get in before they do?
Anyway, just my 10 cents (while wondering how long it might take for BLT to reach 10 cents again... that would be nice!)
There are minimum holding rules that apply to NZX companies which can be enforced by the companies. From memory, if you hold under ~$250 (there are several steps based on share price), the company can force to you acquire more or acquire them from you. The rational being it costs the company money to have shareholders (registry costs and publishing/posting annual reports, small dividend payments, etc).
If it weren't for these rules, every pensioner would own 1 share in each company just for the morning tea at the AGM.
Truly amazing stuff .....blt at 2.5 cents .....heck going up faster than XRO
Might even hit 5 cents by end of month
To the faithful please forgive me for rubbishing this dog .....no longer will I make disparaging remarks like comparing them to the corner dairy
Please please forgiveness
I still not even tempted but I will follow your fortune making with interest
Well summarised Nigel. A price of 10 cps would be great but I suspect that it's a little way off yet.
I've patiently held BLT since 2005 when I bought them at 19 cps! I didn't have many shares initially but supported the Preference Share issue and was able to convert them to Ords in May at the then low rate, plus I did a major top up in October when they were at 0.7cps. Now holding 1.3 million shares at an average price of 1.5cps. The current market activity is very welcome with every 0.1c movement showing me a gain of $1300.
There are some far more substantial holders than me though who supported the October offer at 0.7cps - just hope they're not tempted to take their more than 300% gain and flood the market.
Thank the Lord I acted on my GUTOMETER when I did.........just managed to pick up half million at around 1.5c. Peanuts in dollar terms but up something like 56% in a week! Pity Im not always that good..........plus got it on my "PIKS for 2013" so combined with PEB I may well be up there towards the leaders now? Who needs charts and fundamentals when the GUTOMETER is working this well!! YES 10c wud be nice..........but I might just have to be patient for week or two!!
gr8day, you and Pierre did well. It is now 3 cents and that is 100% for you and many many more for Pierre. My fun punt of just over a hundred thousand shares at 1 cent in early December is now up 200%. It was not a serious investment then but now starting to get a bit serious although it could be just a bit of exorbitant euphoria at the moment. Time will tell! At the rate it is going Nigel may get his 10cents soon