It just occurred to me Capt. Maybe RCF has gone soft on the $3M covenant because there is a major who's stepped up to take the $30M, thereby putting a rocket under the shares and giving RCF the potential of a quick and profitable exit (I emphasise potential) IF this is the case then the BMN boys, CJ methinks in particular, will have managed the OPES GFC Savanna, debacles relatively well. Didn't CJ say he was getting offers at a healthy rate "two or three a ?week/day?"
This is why she's all quiet and the retail market won't be tapped, why RCF appears to have quietly let the second tranche pass them by. It was too cheap so like good shoppers they just went elsewhere but that elsewhere wanted a substantial stake $30M at around 90C is 33M shares or 20 - 25 % of the issued capital. Nice scenario. just run that by LJ (or have it in mind when you ask who's stumping up $30M)
BMN Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
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