Firstly, we won't know whether its a masterstroke until after we know what's coming. There's still a war, there's still inflation, this recent bounce in global markets could be another deadcat bounce and all these juniors could be fighting for their very existence. Better to have cash in the bank to ride it through.
I read the terms sheet. It says it. I'm an SI, so I get sent these things about 3 seconds after the announcement.
Why don't we just have finance for the rest of time? Because every time they raise money people start a picket line with burning crosses, like you are right now. They need the DFS first. Then they can settle the offtake agreements (can't promise offtake until you have the DFS), then you get the debt.
But...as I said, if they drop the DFS without money in the bank, the share price will go into freefall. Better to surprise the market with a small raise now than drop the single most important piece of news in the companies history and have the share price drop because people are pre-empting a capital raise by selling out. Its good management to make sure you remain solvent too, especially with all the uncertainty, knowing that you can't just pay for everything in mining on BNPL.
You're very flighty for a small-cap resources pre-producer investor. This is pretty much all in the handbook you should have read.
BML Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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