Panic selling will trump logic @Jazzaborg. Given that we do have future drilling though probably February now and the JV will drill in March, anything under 6 cents is a bargain.
What we can say is that the recent decline in the SP is down to general negative sentiment in the markets in general and very little to do with any changed sentiments with BNL itself.
Against my judgement on drilling times, it would be great if we got some announcement that drilling has commenced this week. However, that is probably unlikely. It does appear that BNL will get the AGM out of the way first.
BNL Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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