I think the upward trend was generated deliberately with the string of announcements to facilitate the CR at a better SP than otherwise would have been. Having followed a lot of small cap miners and drillers I am not surprised by the timing at all. It’s all part of selling the sizzle and not waiting for the whole steak to be dished up in case the steak is tough and chewy. If they let the capital run down until after the drilling or production and something didn’t go exactly to plan or expectation it is much harder to raise after that as they will be desperate for cash and the SP will have taken a hit by then as well. Raising now is a risk minimisation strategy.
Good luck to us all!
BNL Price at posting:
2.7¢ Sentiment: None Disclosure: Held
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