Would result in massive dilution to cok, as current mc is only 60 million. Bnd needs nearly 700 million though to develop its greenfield springsure project, so level of dilution would be even more.
On the Gailee basin infrastructure approvals, BNDs plan was to piggy back off infrastructure installed by the bigger players, so maybe recent developments (adani securing partial funding from Indian bank, abbot/Newman promising to support infra development) could rekindle some interest. Somewhat ironic that qld government are willing to put money into new infrastructure, whilst the wicet is likely to go underutilized and australian shareholders money poured into coal mines like springsure is going to waste
BND Price at posting:
8.4¢ Sentiment: Sell Disclosure: Held
