Forum Archive Index - February 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

Wading into the BRY debate, I have to agree with Moose's comments here.

Sure, BRY have some good investments - but the underlying fact is that the
company has destroyed billions of dollars of shareholder value and most
investors have no confidence in the management.

Most brokers won't go near the stock, nor recommend it to their clients -
BRY's share consolidation and re-denomination of share capital into U.S.
dollars is a bid to try and attract more US investors - maybe some will jump
on board, but I doubt it.

I really liked David's idea the other day of distributing Thistle shares
amongst BRY shareholders but can never see it happening.  After all, BRY's
long suffering shareholders might actually benefit from an action like that.

In saying that though, it's still a good share to trade and seems to
fluctuate between some set patterns at the moment.  Maybe some money to be
made on the upside (people that bought at 28 cents a couple of weeks ago
will be in a nice profit atm) but I wouldn't put it in my retirement
portfolio.

Best Regards

Ben Dutton
(Disc. do not hold BRY)

p.s.  I'm still holding my breath for that "Asia Recovery Fund" BRY were
putting together.  Last I heard it was being "restructured" back in June
last year.  I hope the restructuring is gong well.

----- Original Message -----
From: <aorang@voyager.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Saturday, February 17, 2001 2:52 PM
Subject: [sharechat] Brierley - Has to rise soon


> Nick,
> I think the massive number of shares on issue by BRY cause
> substantial problems in getting an upward movement in the
> shareprice. A large number of small investors must still hold shares
> bought at high prices and their eyes must light up whenever the
> price looks like moving up. I think many try to sell very quickly into
> any rise forcing the price down again.
> I notice BRY are wanting to consolidate the shares to reduce
> numbers on issue. perhaps this will help if passed.
> The other thing of cause is sentiment."Once a dog always a dog"?
> also "once bitten twice shy" must be in the thinking of a lot of
> investors. Why go there when so many other good opportunities
> exist?
> JMHO
>
> Regards,
> Moose
>
>
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