It's 99.99% certain that it will be a direct placement to a large "entity" ... the identity which we all think could play a key role in BMN's future.
1] The worst scenario would be to offer shares to current holders/public ... BMN needs more retail dilution like a hole in the head!! Also more expensive, and takes more time. Could also see the SP thrashed.
2] BMN needs more institutions on board, so it could be placed to one of these. That would be a much better solution.
3] Far better, would be a placement to a potential off-take partner, or JV partner ... both of which would have a vested interest in aiding BMN through to development & production. An announcement of this type of placement would see BMN go ballistic.
Its wait & see time ... hence the SP trending sideways. Once this is out the way, these prices will be history!
BMN Price at posting:
$1.10 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)