The group’s market capitalisation of around $614 million places BND in the top 25% of ASX listed coal companies.
The group is essentially an emerging coal explorer/developer which is positioned for significant growth.
BND confirmed last week that it is currently looking for funding to help complete the development of its key assets.
In a strategic review update released last Wednesday, BND said it would also be willing to consider external partners acquiring an interest in its assets.
As such, it has invited non-indicative bids from a number of interested parties, with the bids due for submission by the close of business on 4 May, 2011.
Bandanna Energy was one of the market’s hot stocks in the days leading to the update.