A good question that we are all pondering. If BNL follow their playbook from last year, the CR will be done off the back of a plan leading to production. By early September they will have their 4th OGDP in place for Galactica/Pegasus and the production carrot will be dangled.
I’m expecting a string of announcements; think offtakes, production plant and equipment, drills, CO2 development at Sammons, etc. so maybe the plan is to try to pump the SP to higher levels. At .005, the 500 million shares able to be issued raise $2.5 million… hardly company building stuff.
At .01c we get $5 mill, possibly enough to see us into production and into profits. These are challenging days. I wonder if the institutional who bought into the last CR at .02c have been continuously selling into this market and will reposition at the next CR, much like you are contemplating @HellerEcon
I roughly agree with @MAH1H2 back of the envelope calculations here, but any deviation or disappointment from what is expected will be as disastrous as Voyager has been to the SP.
Not to mention the impact Director sell offs and margin calls, a general lack of communication, misleading performance rights, and usual hiccups can have.
I’m bunkered down with a holding that will hopefully be in the black with a little bit of good news, and will flying if we reach production. I’ll reassess at the eofy. We are closer to production than many other He interests out there. Hopefully we hit production of He and CO2 early 2025 and things will go up from there.
DYOR
GC
BNL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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