This by its omissions gives the false impression that the company needs to draw down a further 9.2 million before 22.10.21. It is 9.2 million less the proceeds of today’s draw down which will be about $4 million at today’s price.
It also fails to make the point that the 8.75 million shares USED TODAY are already held by LDA Capital and already incorporated in the shares on issue and so do not dilute.
Finally it fails to state that the 32 million is in effect like an overdraft that BRN do not have to draw down at anytime and can allow to lapse without penalty.
But apart from that it gets the copy and paste it did use correct
No wonder some do not understand why this is good news when this has is the way it’s reported.
My opinion only DYOR
FF
AKIDA BALLISTA
2021 BRN Discussion, page-19255
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