Just updating those posts from late January. A few days ago I calculated that notwithstanding the March dividend payment (i.e. counting it in to total returns) BRM's NTA is down a whopping 11% year to date vs the ASX which was flat. Since then the ASX is down another ~ 2% so we will see how that pans out to their updated NTA today.
Great they are doing another warrant issue but I think that they have no meaningful allocation to the resources or base metals sectors and are still weighted towards tech. I think their asset allocation strategy at present isn't right for the times as we pivot more towards resources and value stocks.
I also think the exercise price of the WG warrants is "ambitious" and predicated upon a share price that's trading at an unwarranted premium to NTA.
I doubt this warrant issue will be a fertile hunting ground.
Disc: No holding.