Looks like a 1 for 1 capital raising here, or close to it.
So this should put to rest bankruptcy that many in this forum have said before. However, existing holders will have to kiss goodbye the company going above 5c for some time. When the company does produce over 100koz p.a. and they reduce their AISC to below $1500/oz, then we will see it at above 5c.
Could be a long wait. I have been hopeful of them when I first bought in early last year. I am disappointed but not despondent. This company is indeed a take three steps back, and another two steps and another few more. But I think the company crashing in a screaming heap, that will be yet some time from today. Not the right time.
BLK Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
