The Manna deal is tone deaf to the market which is rewarding gold explorers who transition to Li exploration, not the other way. Keeping the lithium and ceasing the commentary about it not being a priority would have seen the BRB share price move higher from even modest Li exploration news flow. That would have enabled capital to be raised from a much higher valuation and this cash would have ensured ongoing success at the gold project.
Literally every gold explorer that has sold off a Li project has collapsed in price and every Li project acquirer has skyrocketed in price. It's not rocket science.
Now capital raises for the gold project will be highly dilutative. It's a poor outcome for shareholders and an opportunity wasted.
BRB Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held
