I know your question was not directed at me but I will put my 2 cents in anyway
They have enough cash to do the initial 3-5 drilling efforts (estimated at $300k a hole) and I suspect we will get a CR after that - the SP will go up after permit(s) are received and first drilling results come through They have another 3 permit applications I believe and these should be bearing fruit by the end of the year/early next year.
I think that would be in BNL's interest to maximise returns from a CR. We may not see the CR until the new year anyway.
I do suspect an SP in the 10-12 cent range at the end of the year - and may even see that earlier once the permit comes through.
So, some exciting times over the next few months.
BNL Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
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