Have to agree that a short term hit to the share price is likely - maybe a SPP offer around 7cents per share likely given trading over past month [unless "sophisticated investors" being targeted, although would have thought unlikely given current shareholder base].
Question is, how much to raise? Hopefully enough to see the company through to it commercialising its proven reserves - once substantially increased.
Be interesting to see how ANZ, Stanwell, Kogas, ML Nominees react to the offer....??
The deed is done. Good luck to all who hold.
BUL Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held