I think we are probably making the same point in a different way.
I was coming at it from my usual sarcastic approach when it comes to BNL.
Saying they have burnt a stack of cash in the last qtr and essentially gone backwards in terms of MC and project advancement (basically highlighting the incompetence of Trent and the BoD).
The comment about 18 months was saying, but at least they can still keep feeding from the trough for that long without raising again, assuming they do nothing else.
I know they need to drill again and they need to raise again asap to ensure the trough still has something in it if the next one is another duster.
All in all a totally dire situation…
The question is will they take a chance in drilling and getting a hit and therefore a pump which means they can raise at a much higher SP and protect you holders from more excessive dilution…or they will they play it safe raise before the next drill, feather their own bed and re fill the trough so they can still pay themselves if it’s a duster.
I reckon I know which one it will be…sub 0.5c raise anyone?
BNL Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not 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)