If BMM was the seller at 9.5 then why buy at 15.0?
doesnt make sense.
If the SPAC is the buyer then BMM have to launch t/o due to related entity rules at over 20% & they are already in breach as they would know this as they read this out to AF in 2018 when he tried the 51% underwriting of the CR then & lodged a Takeovers Panel complaint against him, remember.
If AF was the seller then BMM have a marginally stronger hold but have been diluted by this $25M raising thats not to them.
The buyer must be a 3rd party
It must be MD.
PH implied this at the AGM he was looking for fresh blood, a 3rd party large holder who must have over 6% now & may declare soon.
The SPP is dead in the water, buy at 11.0 for shares you can get today at 10.5, I dont think so.
The INSTOs want our shares & dont want us small fry involved at all.
means a big deal is happening here.
PH now has a warchest of $30M cash at bank and NO DEBT.
He can almost fund BS startup cicrcuits 1 & 2 for $37M with no one else barely needed.
The scoping study showed BS plant can restart faster and cheaper than thought with a capex saving of $400M producing in 6 months.
Only a non BHP offtaker would require this, like Trafigura, Glencore, Jinchuan Tsingshan
If I were PH i would -
- start the BS plant refurb of circuits 1 & 2 now (takes 6 months but likely 4 months fast track)
- sign the offtake with Trafigura with $40M credit line, stuff monopolist BHP
- drill all around ST, hole 31, BS disseminated, Gosling & Upper SS
- issue the DFS for this mine plan now
- start up GS & SS mining & use the 1MT ROM pad ore first
Then the EBITDA would go to $66Mpa now and $240Mpa in 9 months & maybe $300Mpa in 18 months & SP would take off leaving the cappers in the dust.
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Last
0.4¢ |
Change
0.001(16.7%) |
Mkt cap ! $14.63M |
Open | High | Low | Value | Volume |
0.3¢ | 0.4¢ | 0.3¢ | $25.94K | 8.582M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
98 | 58101913 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 45816920 | 26 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
98 | 58101913 | 0.003 |
30 | 39162553 | 0.002 |
22 | 39292753 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 45316920 | 25 |
0.005 | 37731095 | 22 |
0.006 | 8998000 | 12 |
0.007 | 9718277 | 10 |
0.008 | 1800000 | 1 |
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