BNT - up to 10 cents today

[ABuzz]

Going to be an interesting one to watch with the whole Sharemax deal/saga! Some people obviously think it is worth buying at these levels with the deal pending...

[Nemisis]

Its got to be worth a punt, with that deal on the cards. 8 - 10 c is a substantial discount on NAV.

[#3]

A 40 million company buying 5 Billion rand worth of rubbish ummmm I'd check you're sums

[ABuzz]

Yes, it's a long shot as to whether the deal even goes through. And yes, it looks pretty dodgy with them now elevating it to a full forensic audit (and finding millions "missing". But if the deal does go ahead, and as speculators are predicting, Sharemax shareholders will be lucky to realise 20 cents in the Rand, then it could go through at R 1 billion, which in turn would be a great buy for Bonatla. As it would give them a serious chunk of retail property. Yes, the biggest 2 Sharemax shopping centres would have to be completed and tenanted (and yes, Bonatla would obviously need to raise some more capital to do this), but the remaining Sharemax stable of retail properties are all returning rental incomes. So yes, it is a gamble, but if it works out, it could see the Bonatla shares worth a lot more than their current 10 cents. OMO

[scandal]

Abuzz Agree with you, though still think it should be worth noting that their market cap would go up 100 fold. That said the devil is in the detail, how much dilution, debt the current stock holders would have to incur.

[#6]

Look I'm all for people speculating if they have done their research. My opinion is this, sharemax is imploding and is wanting someone to take the problems off their shoulders. But the problems far outweigh the possibility of good things happening ie capicol stating they are owed 500 million... 2 international banks have put money up to complete the project... for me there is too much smoke and mirrors that the risk is far too high as well as bonatla (even though they seem to be slowly getting their act together) to be too iliquid. But i wish all the best and hope the "investors" that gave them all the money don't end up skint.

[scandal]

ok ... I am curious. BNT have bought a couple of properties and have agreed to issue shares at i think 75c per share to the new shareholders. Is this understanding correct or is there something that i am missing? Anyone please correct me if my understanding is incorrect!