$30 million capital raising, page-25

Tibbs.
The 55 cents would be the (rough) issue price if current price of 70 cents is where it is at the time of the mooted raising. You say it is something of a worse case scenario, but, as I said this is minus any blue sky. And by my rough calcs is still better than the worst case scenario in the current arrangement of issueing the RCF second tranche at 45cents.

We both hope for that blue sky aka "investor relations" positive announcement outcome.

If the current price is used as the base it is still do-able however. I'm not argueing that its pretty just possible.

You have inked in the blue sky the anny pencils in that is all.
I am generally encouraged by your posts and applaud your enthusiasm and knowledge but I see BMN as a very early stage prospect that is a way off regaining the favour of the market, barring a fresh T/O in the sector that will give a fresher metric than the oft quoted Forsys valuation.(forgive me, as I fear that transaction was made in a different world, there are of course at least two versions of the current world 1.U308 constrained 2. GFC dominated, and just which it is will be answered by the next big deal....... enter Cameco) It has a pretty shallow war chest considering its ambitions and will need to be topping up regularly and quantitatively. This latest raising is, IMHO, encouraging as it is saying that RCF was too cheap and we can do better right now even at current market prices. That is why I contend they've got something up their sleeves. Vis comments re telegraphing punches.
It seems a wise team, LJ etal have cleared the impediments, Savanna, saved the co with the RCF deal (I beleive it was very close to the wire, cashwise at that time) Now they're shoring up the war chest to drill out the targets upon which all our fortunes ultimately depend. Bring on the BFS, then we will see the insto's take note, then it must be re-rated. It might be before..... we all hope that.. and if it is the market will be tapped ipso facto it will be muted.. but patience is what you preach ??