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Broken Hill Prospecting's shares positively re-rated

Broken Hill's shares have doubled in value since mid-December.
Broken Hill Prospecting's shares positively re-rated
The company has a history of monetising assets

Broken Hill Prospecting Ltd's (ASX:BPL) shares have been receiving some end of year buying momentum, last trading at $0.105, or double their value from just a fortnight ago.

BPL received an ASX speeding ticket in the form of a price query, and the company replied that it was not aware of any information that could explain the recent trading.

The company did refer back to its December AGM presentation, which highlighted achievements during 2017.

BPL spun-out Cobalt Blue Holdings Ltd (ASX:COB) at the start of the year which delivered $8.1 million to shareholders via an in specie distribution, which is now valued at well over $30 million for those who retained Cobalt Blue equity.

Cobalt Blue shares have quadrupled to around $0.80 in the past two months.

During 2017 BPL divested a non-core asset for a $3.1 million cash injection, further highlighting its ability to monetise assets.

BPL is in a joint venture with Cobalt Blue at Thackaringa, and retains rights to all lead, zinc, copper, silver and gold mineralisation.

The company also has mineral sands assets in the Murray Basin.

View full BPL profile View Profile

Broken Hill Prospecting Ltd Timeline

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