For what it is worth, this is my rudimentary analysis of the BRB balance sheet as of today - on the assumption that GL1 becomes liable for the 2 x $10m milestone payments (I think we can become confident on the first after today's announcement and every indication from GL1 is that they are certainly moving forwards with a production focus on Manna which supports the likelihood for the second payment).
Obviously with further drilling since 30th June, my cash figure is out of date and we don't know for certain if they have sold any additional shares in GL1 since that first "Ceasing to be a major shareholder" announcement, but it provides a rudimentary view on the BRB balance sheet and how the market is (not) ascribing value to the Bombora and Ularring assets.
GLTA & DYOR
BRB Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
