Ann: $35m Placement to Expedite Expansion Plans, page-15

This is what I just emailed to a friend about the announcement.
There is always going to be something that I am not totally happy about but... they obviously learned from the last placement, extra cash cannot hurt. Its not like they don't have ways to turn that $$ into greater returns through resource conversion/expansion etc. I think BLK now is really looking like a mid tier. Production hoepfully almost to nameplate, cash position now very strong, huge drilling program underway and all the while, its peers cannot become a 250k+ p.a producer unless they merge with other stocks (note that in the announcement it clearly states the expansion plan aims to get the plant to 3.2mtpa. At a 2.5g/t, that is approx 240k ounces.

I am ok with it (the private share sale, not like they sold at highs or anything). If they are making money, then so am I? Better than unannounced sale on the market… as no-one ever believes what is said anyway?

Bit disappointed they could not get the price up to $0.70.
Also, is 5% fee normal? $1.75m in fees seems total bullshit.

Other than that. They are now very safe cash wise. Just under $45m in cash.

In the end, drilling and the expansion is going to make BLK a billion dollar stock as you mentioned.

Just a little patience know I guess.