I went to the AGM to clarify just how low BMN was in cash.
I was right they had very little, I had mis understood, though it was poorly worded, the last cash position that included a section regarding further commitments. I had taken it to mean that BMN was required to spend circa $6 Mill AU in order to retain their licences in Namibia. It turns out that the commitment is in the order of Thousands $AU which has easily been achieved (this matter was clarified in an email from Clive Jones)Though the larger figure of 6mill was for the BFS. As I understand it the accountants/auditors were putting this section into the accounts to make clear that back in Sept/Oct the cash would be used up as per already commited expenditure.
Then RCF takes 30+ Million shares at around 0.6$AU giving 20Mill and a lifeline to BMN. I'd sold convinced that they had less than 6/12 cash left. I think it was actually closer than this but the Due diligence by RCF one hopes was started way before,,,,, in any case I'm back in and praying for just desserts for believers..
BTW whatever happened to LENG he was more neurotic than me
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Last
$3.25 |
Change
0.050(1.56%) |
Mkt cap ! $580.4M |
Open | High | Low | Value | Volume |
$3.22 | $3.29 | $3.15 | $1.446M | 446.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 620 | $3.24 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.29 | 9089 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 620 | 3.240 |
2 | 599 | 3.230 |
2 | 5726 | 3.150 |
1 | 3000 | 3.140 |
2 | 5500 | 3.120 |
Price($) | Vol. | No. |
---|---|---|
3.290 | 9089 | 3 |
3.300 | 2819 | 3 |
3.320 | 500 | 1 |
3.340 | 25500 | 2 |
3.350 | 4000 | 1 |
Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
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Ben Emery, Executive Director
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