My word you're all so quick to stab someone in the neck!
You're working on the assumption that the market is going to keep going up, but if the market tanks again and takes BML down with it, then this will turn out to be a masterstroke.
If it doesn't, there will only be another $3.5m worth of stock on the market, not exactly a wipeout. Better than being 15c and broke.
Also, when it comes to whether this is a lie or not, you will be pleased to know that the funding is for works post-DFS, not the DFS - like the camp refurb, FID costs and EPC design - not the DFS, which was fully funded as stated.
They're still quoting the DFS coming in this quarter, the offtake agreements and drill results - but this is all for what comes next and its better to get it done now, in my opinion, than wait until they drop the DFS. If they drop the DFS without having any money to do any of the things that come after, what do you think the stock price will do, irregardless of the quality of the DFS?
Capisce?
BML Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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