I believe we are due an update before the Sept applications are approved, specifically how they will operate & fund Galactica and Pegasus and even Voyager. My view is that they should be looking at other commercial pathways given the current SP value, and avoid the need for too much funding by cap raise. With the opportunity of circa 50K rev per day or circa $1.5M p/month, there is room to move on funding sources. The amount of money required to be raised through a cap raise should be a small as possible.
We already know they will obtain $2M - $3M p/a from Sammons with a $1.3M investment generating circa $250K per month.
I don't think because mgt hasn't bought any shares lately is necessary a reflection on the company performance or future performance. You don't know their personal situation, and I wouldn't even begin to assume.
BNL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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