The template of Dec2017 Q Report can be used to generate a Dec 2018 Q Report. Believe or not? waitand see.
BLK’s past fundingarrangements are summarised as followings.
· 19 May 2015 OrionLoan $36m plus $2.5m placement @$0.13 · 14 Mar 2016 $20.2mplacement @$0.45 · 19 Aug 2016 $25mplacement @$1.00 · 10 Feb 2017 $35mplacement @0.68
The lesson can be learned is that BLK should raise moremoney to pay off Orion Loan earlier through share issues @$ higher. The Orion loan facility nearly brought downBLK in late 2017.
· Feb 2018 $36mentitlement issue @$0.04
Another unfortunate decision is to mine Matilda first and tomine Wiluna from Oct 2018. Based on the known drilling results today, if BLK decided tomine Wiluna at the beginning, the cash flows and financial outcomes may be different.
Comparing with thesituation one year ago, BLK should be in a better position today. How good? Time will tell.
BLK Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
