Borneo Resource Investments Ltd (BRNE)

[Parzival]

To all new traders looking at this play and wondering whats going on. I stickied this post because it is very informative and should remove any misinformation going around about this play. I would like to fully disclose that I am long here only because of the current SS and the chance that this case might be closed/dismissed from the Courts. This is a very risky play due to whats been going on. Yes the receiver has investigated the creditors claims and seem to have found them valid. The only issue at this point is that nothing has been done since the end of March deadline which is why there was a Status Hearing on 8/15. Is there a good chance this case gets closed? Yes imo. But $BRNE could still be liable for any money owed to certain creditors going forward. My personal thinking is just this: As long as the SS remains the same and I don't see any AS increase, RS, or whatever else happening to repay the debt, then I will most likely still have an interest here. I strongly believe that with this SS, any good news could set it off in a big way. But thats just my opinion and the way I look at things and trade.

Like I said, I'm long here. But my reason may be different that most.

GLTA